The Business Development Best Practices are an ongoing effort by the AGC Business Development Forum Steering Committee to bring more BD resources and best practices to the AGC membership. Written and developed by industry experts in Business Development, these best practices cover a wide range of topics, from relationship building and sales to marketing and proposals.
Christie DeLuca, AECOM Grow, increase, expand. These concepts form the foundation of a company’s strategic goals. Although not all strategies require entering new markets, at some point, firms must expand beyond existing clients or geographies to achieve significant growth. Whether you’re on the executive team or serve in the business development space, answering these questions honestly can help your team determine where your company should focus its resources to achieve realistic and meaningful growth.
Matthew Lee, Young Contracting Have you ever had to sit through a presentation where you spend the entire time checking you phone for emails and messages even though you know you haven’t received any new ones? At some point in your career, whether you are in business development, sales, marketing, management, or otherwise, most of us will have to get up in front of a group of people and make a presentation. Here are FIVE tips that may help you give a meaningful presentation.
Marcia Kellogg There are just some clients that your business cannot afford to have - you know who they are: the ones who are highly commodity-based and have limited experience, whose projects result in little or no profit, and who are a drain on your firm and its resources. Instead of trying to find projects that suit the firm, client-based firms identify clients with whom they can develop and nurture a partnership over time. It’s a philosophy that is primarily interested in owning the client, not the project. Most importantly, the focus of a client-based business is maintaining the relationship at all costs. Firms that align their cultures with the business goals and objectives of their clients realize a vast improvement in performance, because they have a true belief and purpose in the project and the client with whom they are working, and this spirit resonates throughout everything they do.
Julie Huval, Beck Technology The acronym “BIM” is showing up more and more in our industry. Owners are requiring it on projects, countries are setting standards for it, and firms are touting expertise in it. But what is Building Information Modeling (BIM) and, as marketers and business developers, why should we care?
Mike Clancy, Cynthia Paul, FMI Corporation Contractors’ get work departments can be like a car with a bad alignment. While everyone is working hard to get where they want to go, some of the effort is being pulled toward the “ditch” of low hit rates, missed opportunities and undeveloped client relationships. All that is needed are a few key adjustments to win your fair share of work.
Today, AGC sent a comprehensive comment letter to the IRS in advance of the July 14 public hearing. The letter offered recommendations that would curtail the proposed regulation’s effects on domestic construction companies. The letter is in addition to the comments sent last week asking for a withdrawal of the rules and, at a minimum, an extension of the public comment period and study of the regulations on industries. Visit AGC’s Action Center and urge your members of Congress to oppose the 385 regulations in their current form.
On Tuesday, the Senate Finance Committee held a hearing on ways Congress could reform the business tax code to make it more globally competitive and to consider the findings of the Committee’s bipartisan business income tax working group. Members also discussed anticipated discussion drafts on corporate integration and cost recovery reform from leaders of the committee. AGC has been actively involved in vetting the discussion drafts with both the committee’s majority and minority staff. AGC will continue to monitor these legislative proposals that have the aim to provide clarity, simplicity and certainty for construction firms.
On Wednesday, the House Ways and Means Subcommittee on Tax Policy held its second hearing on reform America’s tax code. At the hearing, Congressmen Bob Goodlatte (R-Va.) and Roger Williams (R-Texas) presented legislative proposals to reform the income-tax system so that it is fairer and simpler for taxpayers. AGC will continue to monitor these legislative proposals and promote reforms that provide clarity, simplicity and certainty for construction firms.
President Obama pushed for tax reform today, urging Congress to close corporate loopholes that allow firms to legally avoid paying taxes. The president’s plan, however, would not lower the individual tax rate, which a majority of AGC members use to file their taxes as pass-through entities. AGC continues to meet with key congressional decision-makers and staff to advocate for comprehensive changes to the tax code that lowers the rates for all business types, reduces the effective tax rate on construction companies, simplifies the tax code and uses reform as an opportunity to shore up infrastructure trust funds and expand infrastructure incentives.