Be the Best or Be the Cheapest. You decide.
Many have heard as a consumer, you can pick two of the three – quality, speed, or price. You will never get all three. Anyone that is cheap and quality, is busy so speed is out. Many times, speed costs money, so price is out on that one. Finally, we all know that you get what you pay for so with quality should come more expensive prices.
So in the life of Lowest Bidder, how can this effect you? When working in the private sector ask the general contractor if they would pay 10% more if you guaranteed your work, did it all time, and was not a hassle. You can prove this with your track record. Many GCs would gladly pay 10% more for less hassles because they can get another job if all of their subcontractors just do what they say they will do.
If you have a niche or a specialty that pertains to the project at hand, you can also charge more. Who gets paid the most – the consultant that specializes in the industry or the jack-of-all, master-of-none?
Finally, my last comment on this one. Who do you think can focus more on each of their clients, improve their company and enjoy life more – the GC with 20 $5 million projects or the GC with 10 $10 million projects? The first GC is always trying to keep up and is running around like a chicken with his head cut off. The second GC can focus on their clients, hire the best employees, make more money and go home early.
Even on public bid, you can costs more and still win more projects without the need for a attorney to review each project. Check back, we’ll be discussing that again.