NETWORK YOUR WAY TO SUCCESS

5 Strategies for Successful Networking

FOR CONTRACTORS AND SERVICE PROVIDERS

NETWORK YOUR WAY TO SUCCESS

Referrals, word-of-mouth and networking are critical to any business. In fact, according to a New York Times survey, 65% of new business comes from peer-to-peer referrals. Yet surprisingly, many contractors lack a networking strategy that helps them nd key players who will lead to new business, actively build their network and stay top-of-mind with their current contacts. In todays ercely competitive construction climate, getting awarded a job can often come down to who you know rather than what you know. Networking, the process of connecting with people, sharing information and building relationships, is a very powerful and cost-eective approach to generating new business. Here are ve strategies to become a successful networker and grow your business in the process.

networking website, makes it easy to locate people you are connected to that might be able to introduce you to people you want to meet. However, determining who you should connect with can sometimes be a bigger challenge. To narrow your focus and determine who to approach, here are three approaches to consider: - Build relationships with past clients. There is no easier way to get a leg up on the competition than having a strong relationship with someone you have already worked with. Many GCs are building their success with existing clients through networking. Helping clients incorporate new trends and mandates, identify nancing opportunities and locate other professionals such as a new real estate agent or tax attorney are ways GCs are extending their relationships with clients. - Research regional projects. Using a business intelligence tool such as the Dodge Global Network can help you identify projects in your region in the preplanning phase and gather contact information for the projects owner, design professional and/or engineer. Visit their websites to learn about them, what associations they may be involved with and how to connect with them through social media, e.g., LinkedIn, Twitter and Facebook. - Connect with local owners, architects, engineers and contractors. Sometimes we forget that the best contacts can often be found right in our own backyard. While local owners and A/Es are a great source for future business, dont discredit your fellow contractors. Believe it or not, contractors often generate a considerable amount of business by networking with other contractors. Research your existing network to see if there are opportunities to get introducede.g., your kids both play soccer, you have the same accountant, or you have a connection through a friend or relative. If not, seek out ways to be introduced through your subs or to interact at a local event.

D E T E R MINE W H O T O C O NNE C T W I T H Today, technology makes it easier than ever to make connections. LinkedIn, the leading online business

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WHAT IS NETWORKING?
Its sharing ideas, leads and expertise with others. Its an ongoing process of give and take. Its a planned and organized way of sharing your expertise and values. Its making links from people we know to people they know. Its done with a specic purpose, without necessarily expecting anything in return. Its pursued persistently yet graciously. Its the power to achieve your goals while synergistically helping others achieve theirs.

NETWORKING IS NOT
A one-time transaction A sales or marketing e ort Intrusive or pushy About creating an obligation upon the other person

NUR T UR E Y OUR C UR R E N T NE T W ORK

Many of you already have a rich network, ripe with possibilities. You have a personal network of friends,

family and neighbors; people from clubs, community programs, religious aliations, alumni groups, etc. Your professional network includes architects, contractors, designers, engineers, product manufacturers, owners, real estate developers, as well as accountants, lawyers, marketing execs, sales professionals, etc. Some contacts you already have a relationship with; some youve just met at a trade show or conference. Still others you know second-hand, through an introduction or activity, such as working on a project of interest to you. Since networking is a give-and-take process, you need to nurture these relationships. - Provide value. Be a good listener, and whenever possible give ideas, suggestions and insights to members of your network so they are empowered to maximize their networking capability. Share updated information of interest you acquire from projects youre working on, conferences you attend, etc. - Assist others. Focus on how you can help others make connections. When you meet someone, ask Who are you looking to meet? or With what kinds of businesses are you looking to connect? - Get personal. Look for opportunities to reach out to a connection. If he or she has won an award, received an honor, authored an article, had a child or has a child who has accomplished something, these are opportunities to make contact. A simple handwritten note, email, or quick phone call about the event or honor can sometimes open a door to further conversation or scheduling a personal call. - Be gracious. Always thank members of your network for keeping you in mind and sharing information about you with others. What goes around, truly comes around! Acknowledge other peoples contributions. If someone provides you with information, a business referral, a testimonial, etc., make sure you say thank you. - Stay visible. Keep people updated on your situation and needs. If youve just nished an important project, let people know. If a client provides a testimonial that demonstrates another area of your expertise, share it with your network, so they can better communicate your value to others.
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NETWORK YOUR WAY TO SUCCESS

TECHNOLOGY GIVES YOUR NETWORKING STRATEGY A COMPETITIVE EDGE

Using a business intelligence tool such as the Dodge Global Network provides you with up-to-date information and intelligence about people, projects and products within the construction industry. The data can be searched and analyzed to help you identify: Construction projects you should be paying attention to and the relevant players on the projectowners, architects, contractors, etc.you want to make contact with. Whether these players are members of your network, or you have to reach into their networks to make a connection. What other projects have these people worked on, which you may already have contacts. What projects are your customers and colleagues involved with, so you can acknowledge them, seek new business opportunities, or help them. Which people are involved with projects that might interest others within your social and professional networks. Who in your extended network is involved with new growth opportunities.

E X PA ND Y OUR NE T W OR K T HE OL D-FA S HIONE D WAY

Thanks to technology, contracts have easier access to contact information and project details. But dont

let this cause you to forgo investing the time and money to attend good, old-fashioned networking events. Meeting a design professional or building owner over drinks at an association event or sitting next to one at a seminar is a far more eective way to network than making cold calls. You can: - Attend national and local construction industry trade shows and meetings, where you can meet people and obtain new information to share with others. - Participate in professional groups. Join boards, special committees, interest groups, etc. where you can volunteer and demonstrate your expertise. The easiest way to develop relationships is in the informal, social or educational settings that are available at industry association meetings, such as the Association of General Contractors. - Join owner associations such as BOMA (Building Owners and Managers Association) or IFMA (International Facility Managers Association) for opportunities to network with owners. - Create visibility by writing and speaking on topics of interest at professional group workshops or monthly chapter meetings.

ARE YOU USING PROFESSIONAL ORGANIZATIONS EFFECTIVELY?

Are your targeted client groups active in the organization? Does the same person from your rm regularly attend the meetings? Is that person involved on a committee or in a leadership position? Does your rm get recognition in other waysas a sponsor, exhibitor or speaker? Have you put the membership on your mailing list? If you answered yes to all of above questions, youre using professional organizations to their best advantage.

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F OL L O W UP W I T H E V E R Y NE W C ON TA C T
Giving your business card away isnt nearly as important as getting the other persons business card. If

you hand someone your card, and then expect them to call you, youre going to be sitting by the phone for a long, long time. The single reason most people arent eective networkers is lack of a good follow-up system. Follow up with an email or handwritten note expressing gratitude for his/her time. It will make you memorable. Humility and gratitude are traits of every successful sales professional. Dont just add the person to your email database so they begin getting your unsolicited emails. Instead, in your follow-up email or note say that you will include them in your newsletters and hope they nd them valuable, but that they shouldnt hesitate to unsubscribe if they dont. Ask for feedback and advice about your informationthats a sign that you respect the other persons opinion. And at the next networking event, seek out that person just to say hello and express appreciation for making a connection.

DEVELOP AN EFFECTIVE CONTACT STRATEGY

Creating and building a network is a tremendous amount of work. Many times, to our frustration, we

get the Dont call me, Ill call you scenario. While there are no hard and fast rules for contacting design and construction professionals, there are certain strategies that can make the dierence between an eective call and a wasted one. - Be timely. Contacts should, whenever possible, be timely. That is to say, endeavor to contact design and construction professionals at times when they may need your help or information. There is nothing worse than contacting a professional with the right information at the wrong time. Access to up-to-date construction project information, such as through the Dodge Global Network, can help you be timely and informed. - Be consistent. When you call on a professional, do it the same way every time. Whether by phone, email or mail, make certain you present the same image and contact person every time. There is nothing worse than having multiple people from your company calling on the same person. - Provide value. When youve nally made contact, no matter how you did it, you must assume it is your rst, last and only chance to make something happen. Make each contact count by providing up-to-date, useful information that can be readily applied to a project at hand. - Ask questions. Fight the urge to talk, and instead concentrate on asking questions that get an owner or design professional to talk about their upcoming projects. You will be amazed by the knowledge and insights you can discover about what is needed, which you can leverage in your bid. - Listen for clues. Pay attention to the tone of the persons voice or observe to see what is going on in the oce. Calls are wastedor worse, resentedbecause clues are ignored. A polite It sounds like today might not be a great day to talk, is there a better time this week I could call? can go a long way.

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CONCLUSION
Youve likely heard the adage, Its not just what you know, but whom you know. For BPMs, this saying is especially true. Networking is a sales strategy that should not be overlooked. If done well, it can help you generate new sales leads, deepen connections with existing contactsleading to more businessand learn useful information about your markets, resulting in more relevant services. By knowing who you want to connect with, having a plan in place to nurture and expand your network, using technology to boost your networking potential and having an eective follow-up and contact strategy, you are on your way to achieving networking success.

Further Help and Resources

There are a number of ways we can help you be more successfulfrom helping you size market opportunities and prioritize prospects through to strengthening your market position and improving your win/loss ratio. To discover the full details, simply visit our website. In particular, you may want to take a look at: The Dodge Lead Center: where you can nd local projects to bid dodgeprojects.construction.com Dodge BidPro: the bidding alert dashboard where qualied leads nd you dodgebidpro.construction.com

About McGraw Hill Construction

McGraw Hill Constructions data, analytics, and media businessesDodge, Sweets, Architectural Record, and Engineering News-Recordcreate opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics, including Dodge MarketShare, Dodge BuildShare, and Dodge SpecShare.

Additional Resources
To learn more about how we can help you increase your spec rate and grow your business, visit www.construction.com or contact us at: 877.903.1912 or info@cs_construction.com