Episode
238
Tue, 12 Mar 2024 08:00:00 +0000
A single commercial construction deal with a big company can be life-changing…
Not only can it blow your revenue goals out of the water…
It can give you a predictable stream of work for months (if not years) at a time…
So what the heck do these industry titans want when searching for a contractor?
I posed this question to Joanna Cooper, the General Manager at Daimler's Mount Holly facility.
She's the go-to person for keeping the entire operation running smoothly – from procurement to fixing things up.
In our chat with Joanna, we uncovered how big companies decide who to team up with, revealing insights that could mean significant sales for regular trade and construction crews.
The most important trait Joanna looks for in a provider?
Being a good listener!
You need to grasp the specific needs of a facility, so contractors who take the time to truly listen earn gold stars.
At the same time, a top-tier partner isn't just someone who does what they’re told.
Big companies seek innovators instead of order-takers.
That means you need to proactively look for ways to speed things up AND save money.
Specializing also goes a long way.
Being the go-to person for cracking a specific challenge can open doors to major opportunities.
And in the grand scheme, it's about being part of a network where good folks vouch for solid partners…
The initial point of contact is usually facility managers and maintenance crews.
So you need to nurture relationships at various levels within an organization.
Personal connections and recommendations often outshine online searches.
So networking is the name of the game.
But before you seek the connections make sure you got the goods.
Joanna shared the top three concerns that dominate the discussions at Daimler Truck's Mount Holly facility.
1. Safety First, Second, and Always
When new contractors step onto the scene, the primary concern is their commitment to safety.
And for a good reason.
While working with big companies and manufacturers accidents can disrupt production. That can mean a serious hit to their bottom line and workers well-being.
So having a partner who values and follows strict safety protocols is an absolute must.
2. Project Management Prowess And Speed
Time is money, and downtime is a costly affair for a manufacturing company.
With limited windows for completing projects, big companies look for contractors who understand the value of time.
The ability to deliver on time, every time, is non-negotiable.
3. The Total Value Package:
Joanna caps off the trio with how efficiently and cost-effectively the work can be executed.
They assess the complete package – from safety consciousness to on-time delivery and a strategic approach to cost efficiency.
If you’re sure you can meet all three - it’s time to get your name out there.
Winning over big companies might seem like a daunting task.
But if you’ve got the goods it’s only a matter of time until you’ll get your foot in the door.
Joanna stresses the significance of being appropriately positioned.
So, understanding where your business fits in the grand scheme of things is crucial.
It's not just about having a laundry list of impressive attributes.
You need to ensure you can meet the needs of potential buyers.
Don't force a fit – find the sweet spot where your business complements theirs without causing damage.
Evaluate your business objectively.
Ask yourself, "Where do our strengths align with the needs of big companies? How can we enhance rather than disrupt their operations?"
Build a Strategic Network
Cultivate relationships with mentors, trusted colleagues, and even competitors.
Join trade associations to connect with like-minded business owners and facility managers.
Not only can you find new potential partners or referrals - a network provides insights and offers a support system to navigate the challenges of dealing with big companies.
Learn From Failure
Seek feedback when a bid doesn't go your way.
Rejections happen, but they're not the end of the road.
Treat them as opportunities for growth.
Purchasers appreciate businesses committed to improvement.
Take the feedback, scrutinize your operations, and identify areas for leveling up.
Feedback is your ally, not your enemy. Use it as a tool for improvement.
If at first, you don't succeed, don't throw in the towel (or worse don’t throw a fit).
Stay cordial, maintain the relationship, and express your interest in future opportunities.
Keep yourself on their radar by positioning yourself as a candidate for the next Request for Quote (RFQ).
The persistence you display can turn today’s "no" into a future "yes."
As you embrace these tips, remember that the journey is as important as the destination – continuous improvement, persistent engagement, and strategic networking will be your keys to mastering big company sales.
For more insights on leadership and Lean methodology of project management listen in to the full Profit Toolbelt podcast episode with Joanna Cooper.
Show Notes:
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