Wednesday, October 5, 2011

Another Idea for Sourcing New Work

By Rachel Rico, Partner, SingerLewak

According to the most recent ENR’s Top 400 Contractors list, the Top 400 generated $259.4 billion in contracting revenue in 2010, down 10.8% from 2009’s figure of $290.9 billion. Domestic revenue for the Top 400 fell 11.5% in 2010 to $208.2 billion from $235.3 billion in 2009, while international project revenue fell 7.8% to $51.24 billion.  Taking a different view, there is somewhere in the neighborhood of 90% of the work available.  It is, as you know too well, more challenging to win in this competitive environment.

I have spoken with many contractors throughout Southern California, both clients and non-clients, and the consistent theme I hear is concern for sources of new work as we head into 2012.  It would be easy to say there’s a silver bullet that will cure this ill, but there simply isn’t.   For so long, the work simply showed up and most had more than enough to support the Company.  I’ve taken note that during this time, relationships were not driving new business, the economy was.  Many of the construction owners have become accustomed to this easier business climate and getting back to working hard for profitable new business has proven challenging.  Having to get back to doing this type of activity doesn’t appeal to many who thought they’d be thinking of their exit strategy in 2011, but now find themselves having to delay such.  The reality is that no one has more to lose than the owner and the time to focus on business development is now if you haven’t already started.  Sure, your employees may be motivated to keep their position and steady paycheck, but you also have a paycheck, if you’re still able to draw one, and beyond simply getting a paycheck you have a significant investment in your business to protect.

The list I’ve included in the below links contains the Top ENR 25 contractors regardless of where they are headquartered as many have a presence reaching into southern California.  I’ve also included all of the California and Arizona contractors as well.  The website links will take you to their general website or a section in their website which includes a link to get your Company pre-qualified.  I would encourage you to reach out to these Companies’ key personnel and establish new relationships and/or restart the relationships you haven’t maintained.

Click this link if you are using Internet Explorer for the Top ENR 25 List

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