The competition between construction companies to secure competitive building opportunities has increased dramatically, especially amid the pandemic. With the number of projects recently paused, on hold or canceled, construction businesses are having to find creative ways to leverage their expertise and experience in the field to attract clients.
It’s critical, more now than ever, that construction companies have their pitches perfected for clients before putting in a response. General “good practices” for achieving the perfect build opportunity are detailed below.
As your company enters a competitive opportunity, it’s important that you research all competition prior to submitting it. Understanding their strategy, history of performance, trends in the market, and reputation to the fullest extent will allow your company to be one step ahead and in the long run, will help you in the execution of winning a number of competitive build opportunities.
It’s extremely important to have industry connections and a history with a strong subcontractor base. To get to this point, companies must spend intentional time and energy with partners to build a deeper connection that goes beyond one or two business transactions. A contractor who has a number of strong, reliable connections will stand out from its competitors and will be more attractive to those looking to hire for a project.
Prior to being considered for a competitive opportunity, your firm must have a solid reputation, followed by strong execution. Your first goal should be to finish each project with a reference and action plan in hand so that when the opportunity arises, you are ready to go. When you gain a strong understanding of the timeline and the team needed through extensive experience, you hold the ultimate competitive advantage.
Selecting The Correct Opportunity
Selecting the correct opportunity is extremely vital for success. Focus your efforts on pursuing clients that fit within your mission and values first. If those align, consider timing, manpower, the current state of material pricing, and overall ability to service the project. When sticking to this process, the result is a win-win for the entire team!
In construction’s ever-changing landscape, it’s critical for leaders to acknowledge the necessary components needed to successfully capture a competitive opportunity. In addition, leaders should hire resume and experience for particular markets if those don’t exist in-house. Qualified team members will be able to create more profitable opportunities, as well as help to guarantee the success of their company down the road.
Tom Harrison is the vice president and managing partner of Johnson Carlier. He has more than 25 years of commercial construction expertise in Arizona. Aggressive and meticulous, Tom has managed more than $1.2 billion of projects within a variety of delivery methods, including Construction Manager at Risk (CMAR) and Design-Build.