New Business

Simple, but loaded question. How do you get new business? Of better yet, how do you win bids?

If you say, “lowest bidder” then your business is set up for failure. If you win on price you’re getting beat on all other means and eventually (probably soon), you’ll get beat on price. If you can not win a job based on your reputation, experience, machinery, or even location then you have nothing to offer but price. Low prices in a B-to-B setting show two things: lack of knowledge and desperation. Think of the your last hire. Did you hire the best candidate or the cheapest candidate? If you hired the cheapest candidate, how is it working out? Probably not well.

If you say, “relationships” then you’re on the right track. Business should be done through relationships and reputation. It is great when a prospective client calls you on the phone based on their relationship with one of your clients and your reputation. Notice that I said that you’re on the right track and not that you’re doing things perfectly. You need more than relationships to build your business.

In today’s world, the web is a game changer. Even with an incredible testimonial and referral from your best client, that new prospect is most likely going to Google your business and find out more about you before contacting you. Also, many of the “big box” stores use the web to easily and quickly find their sub-contractors as they move across the country building new stores. How do they evaluate the best subcontractor for their project? The answer is simple, the professionalism of their website, past projects, capabilities, associations, and awards won by the company. All of these factors show how professional and credible your company is to someone who has no idea who you are. Relying on your relationships means you’re missing the boat with companies of of the area.

Don’t you want more business? How are you going to get it?