Why Low Bidding is Not the Best Approach for Contractors?

Specific to private projects, Well Built Construction Consulting firm’s CEO Chad Prinkey declares that being the lowest qualified bidder does not guarantee successful results. Prinkey highlights that this strategy will cause contractors to lose money as they are missing out on potential business opportunities and profit. Instead, Chad believes that your sales team should shift their approach so that it integrates the following guidelines:

• Evaluate which projects are ideal for your business and have the highest potential of converting to a sale.

• Engage in conversations with buyers so you are not just a number to them.

• Highlight key differentiators in your proposal aside from price, such as leveraging the types of technology your team uses. 

• Set up a time to present your exclusive approach that showcases your team's ability to produce optimal results that will allow you to close the deal.

This advice does not pertain to DOT projects.