A Carpentry Contractor, Looks to Change the Process They Have for Winning Work
We all know the feeling of getting a call from the Main Contractor who’s just been awarded a project and is keen to get quotes, normally very quickly, and your first thought is often we need to win more work.
The Subcontractor Hub is set up to help subcontractors run their business by providing them with relevant information about how to do so successfully. It also provides them with all of the tools needed such as Training, templates, process road maps. To find out more about who we are and what we do visit Who I Am and Why the Subcontractor Hub.
We offer advice to subcontractors on all items relating to your construction business and projects. We’ve previously touched on 10 Things to Ensure Your Construction Project is Successful and More Profitable in addition to 4 Mistakes to Avoid on Construction Projects, hopefully, you’ll find some useful information in them.
We all know the feeling of getting a call from the Main Contractor who’s just been awarded a project and is keen to get quotes, normally very quickly, but we’re not quite sure what they want. I’ve previously worked with a subcontractor with their pricing strategy, estimating projects, tendering for work and more – read on for some handy tips!
One of the most common questions that I’m asked by my clients is how do you estimate your projects? Estimating can be difficult because it requires an understanding of the many market factors needed for a particular sector, client and also location.
This particular client was a carpentry contractor and had been pricing several projects for mainly one client. He wasn’t satisfied with the type of work they were doing because it is not what they do best. They knew this was a short term solution to their current financial woes and wanted more long-term success in future projects.
They soon realised that the contract rates they were getting didn’t make sense considering how much time they spent on each project, the late payments, not getting paid in full, and the constant project delays. At this point, they realised they needed to change the process they have for winning work.
We met this particular client through social media and a mutual friend. We had previously discussed the problems that construction subcontractors have to deal with. After a few discussions over a couple of different topics, and sounding some ideas out with me, they approached me, explained their problems, and requested our assistance.
Firstly, we needed to understand their current situation and take it back to basics, what is the plan for their construction company? How much turnover is forecast? What’s the ideal client look like? how many projects? and many more technical items.
We went through the process of highlighting these areas that need to be considered and then take a calculated approach to win work at the right rates, for the right types of work, for the right clients.
Previously they found themselves stuck in the weeds and fighting through each project at a time. We helped them to understand the metrics of what type of work they want, how many projects, how to price these projects, the risks to manage and how to manage them. All of this has been provided to them via pieces of training, through tools and templates to give them the knowledge and confidence to progress.
Our client went from frustrated with their current projects, clients and prices to feeling in control of the future work they target, how they will target it and have confidence in the rates they are using.
You can’t do the same thing and expect different results. If you’re a small business owner, it’s time to stop accepting less than what your company is worth. Like this carpentry subcontractor client, I mentioned earlier, if you want long-term success in future projects with higher rates from satisfied clients who appreciate your work for its quality – then change the process that got you here today!
If you’re looking for Tips for a Successful Pre-Start Meeting
For more like articles like this, please sign up to our newsletter.