How to Get to a Potential Project First
Words: Larry AlamilloA key question for business development is how to find out about a potential project
early enough to negotiate with limited or no competition. There are five primary
categories to consider to find out about a project early and to cut off the
competition.
Land ? From the ground up, construction obviously requires some parcel
to build. Nothing happens without a suitable site. It makes sense to get a lay of the
land in your region. Do you have all of the available land mapped out with owner's
information at your fingertips? Many contractors consult with prospective building
owners regarding the land acquisition.
Lead Reporting Services ? There are many avenues to buy reports about
upcoming projects (Dodge, CMD, Peck, Clark, CBD, Clipping Services, etc.), both hard
copy and online. Obviously these reports reveal the fact that the project is out on
the street and is common knowledge. Even preplanning reports will have competition,
though the project may not be designed yet. The thing I like about this approach is
that it causes you to reach out to new prospects and allows you the possibility of
getting short-listed.
Networking ? Relationships are the best way to secure new work. A good
referral given by a previous client is a sure-fire way to cut off the competition.
Through community involvement, association investment and numerous organizations, your
employees and their families rub shoulders with people from every walk of life. Word
of mouth should never be discounted as a primary business development tool.
Marketing ? Consistent promotional activities such as advertising,
public relations, literature development, and direct mail are an excellent way to
position your firm as a reputable contractor. We have seen the positive impact that
marketing has over several years of effort. It is hard to predict when you may reap
from all that you sow, but it does make a big difference in the owner's perception.
Industry-Related Firms ? There are many players in our industry and in
your targeted industries. Make reaching out to your targets (health care, schools,
retail, etc.) and other allies a regular part of the sales effort. Allies would
include design firms, developers, insurance companies and subcontractors, to name a
few. Set up a regular program to communicate and develop rapport with both your
targeted prospects and these influential allies.