{"id":28941,"date":"2025-02-07T00:12:12","date_gmt":"2025-02-07T08:12:12","guid":{"rendered":"https:\/\/essential.construction\/news\/why-not-to-be-the-lowest-bidder\/"},"modified":"2025-02-07T00:12:12","modified_gmt":"2025-02-07T08:12:12","slug":"why-not-to-be-the-lowest-bidder","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/why-not-to-be-the-lowest-bidder\/","title":{"rendered":"Why not to be the lowest bidder"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"text-to-speech\">\n    <button class=\"text-to-speech__button button\"><\/p>\n<p>            <img decoding=\"async\" class=\"text-to-speech__button__icon\" src=\"https:\/\/www.constructiondive.com\/static\/images\/audio_icon.svg?482016190122\" alt=\"-\"><\/p>\n<p>        Listen to the article<br \/>\n        <span class=\"text-to-speech__button__audio-length\">3 min<\/span><br \/>\n    <\/button><\/p>\n<div class=\"text-to-speech__controls\">\n        <audio controls=\"\" class=\"js-text-to-speech\" preload=\"none\"><source src=\"http:\/\/res.cloudinary.com\/dmgi9movl\/video\/upload\/q_1\/v1738854377\/news\/text_to_speech\/lowest-bidder-bids-construction_vmisyn.wav\" type=\"audio\/mp3\"><\/source><\/audio><\/p>\n<div class=\"text-to-speech__controls__text\">\n            This audio is auto-generated. Please let us know if you have <a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/contact\/\" target=\"_blank\">feedback<\/a>.\n        <\/div>\n<\/p><\/div>\n<\/div>\n<p><span><span><span><span><em><span>Chad Prinkey is CEO of Well Built Construction Consulting, a Baltimore-based firm that delivers strategic consulting, facilitation services and peer roundtables for construction executives. Opinions are the author\u2019s own.<\/span><\/em><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>How does your construction business win work today? If you\u2019re like the hundreds of typical contractors, you\u2019re probably getting on bid lists, bidding work, following up (maybe!) and being awarded projects as the \u201clowest qualified bidder.\u201d It works, right? <\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Your ability to secure competitive pricing from vendors and subs, and your confidence in operations to efficiently run work absolutely matters. As a growing company, you\u2019re never going to win work consistently if hiring your firm is cost prohibitive.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>I\u2019ll shoot you straight, though: If your sales approach boils down to \u201cbe the lowest qualified bidder,\u201d you might as well add \u201cfingers crossed\u201d as an official step in your sales process.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The low bidder won\u2019t always win the day, and if you\u2019re only winning when you\u2019re low, you are leaving a ton of business and<\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><strong><em><span> <\/span><\/em><\/strong><\/span><\/span><\/span><span><span><span><span><span><span>profit on the table. Let\u2019s run through what separates top construction sales teams from the norm.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<figure class=\"image-right inside_story\">\n<div class=\"figure_content\">\n<div><img decoding=\"async\" alt=\"headshot of Chad Prinkey\" data-imagemodel=\"156672\" src=\"https:\/\/imgproxy.divecdn.com\/WGjYgIUtNW7W3b2pL-RjADG6qYDCD-ywXK2yfWc_Vtk\/g:nowe:532:4\/c:1076:1346\/rs:fit:0:860\/Z3M6Ly9kaXZlc2l0ZS1zdG9yYWdlL2RpdmVpbWFnZS9DaGFkX0hlYWRzaG90LmpwZw==.webp\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Chad Prinkey<\/p>\n<p>Permission granted by Well Built Construction Consulting<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>The power of process<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><span><span>When an opportunity comes in the door, top teams have a documented and methodical approach to put themselves in the best position to win. They have a sales process designed to give them an advantage over their competition.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Your sales process should be uniquely designed to meet the realities of your business, the market(s) you serve and your competitive environment. As a rule, your sales process should:<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><strong>Quickly evaluate and separate the wheat from the chaff.<\/strong>\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>You probably don\u2019t have unlimited sales and estimating resources to effectively chase every project so focus on the ones that fit your business and have a high potential of converting to a sale.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><strong>Create interactive conversations with your buyers.<\/strong>\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>In most cases, humans are making buying decisions, and without talking to them you\u2019re just another number.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><strong><span><span><span><span><span><span>Provide you with essential information about the project, buyers and competitors.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/strong><span><span><span><span><span><span>A little key information goes a long way to help your team highlight key differentiators beyond price in your proposal.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span><strong>Put you in a position to close the deal.<\/strong> Y<\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>ou need an opportunity to present your unique approach to the project and your team\u2019s ability to deliver optimal results. You should also plan to field questions from the customer to put their mind at ease. Without this opportunity, your bid is all the information available to your buyer to make a decision.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Depending on your business, you may have multiple sales processes adjusted to fit various scopes and customer types. Well-designed sales processes can double your win rates or even better. Don\u2019t skip this step, it\u2019s well worth the effort.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Take note: Having a sales process is different from following one, so your team must deeply understand it and buy into the process to glean the benefits. They\u2019ll also need to be competent enough to execute the process.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.constructiondive.com\/news\/lowest-bidder-bids-construction\/739393\/\" rel=\"nofollow noopener\" target=\"_blank\">This article was originally posted at Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. Chad &#8230; <a title=\"Why not to be the lowest bidder\" class=\"read-more\" href=\"https:\/\/essential.construction\/news\/why-not-to-be-the-lowest-bidder\/\" aria-label=\"Read more about Why not to be the lowest bidder\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[457],"tags":[],"class_list":["post-28941","post","type-post","status-publish","format-standard","hentry","category-construction-dive","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/28941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/comments?post=28941"}],"version-history":[{"count":0,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/28941\/revisions"}],"wp:attachment":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/media?parent=28941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/categories?post=28941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/tags?post=28941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}