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Winning Business in a Losing Economy

Twitter: @KellyRiggswww.VMaxPG.com

Tuesday, April 16, 13

Booming building industry

Abundant opportunities

Open-minded clients

Positive changes in customer priorities

Increased emphasis on “customer experience”

Collaboration; teamwork

Contracting building industry

Limited opportunities

Budget-minded clients

Negative changes in customer priorities

Less interest in “customer experience”

Fierce competition

Pre-2009 Economy 2009 to Present

Tuesday, April 16, 13

Past Determinants of Success

Booming building industry

Good People

Good product or service

Willpower(Git ‘r Done Mentality)

Bid/Take Just About Everything

Do Good Work

Strong Leadership

Mission Clarity

Defined Strategic Plan

Engaged Workforce

Differentiated product or service

Business Development Focus

Do GREAT Work

Future Determinants of Success

Tuesday, April 16, 13

W i n n i n g B u s i n e s s i n a Losing Economy

© 2011- 2013Vmax Performance Group

www.VMaxPG.com

3. Develop a “selling” mentality

1. Create a plan

2. Fiercely exploit your competitive advantages

Tuesday, April 16, 13

1Tuesday, April 16, 13

W i n n i n g B u s i n e s s i n a Losing Economy

© 2011- 2013Vmax Performance Group

www.VMaxPG.com

“Strategy without tactics is the slowest route to victory...”

Tactics without strategy is the noise before DEFEAT.”

Sun Tzu , The Art of War

Tuesday, April 16, 13

W i n n i n g B u s i n e s s i n a Losing Economy

© 2011- 2013Vmax Performance Group

www.VMaxPG.com

“We pursued strategies that were either poorly conceived or poorly timed...

Bill Ford

We strayed from what got us to the top of the mountain, and it

COST US GREATLY.”

Tuesday, April 16, 13

2

Tuesday, April 16, 13

© 2011- 2013Vmax Performance Group

www.VMaxPG.com

“If all you're trying to do is essentially the

Michael Porter

be very successful.”

SAME THING

...then it's that you'll

as your rivals...

UNLIKELY

Tuesday, April 16, 13

W i n n i n g B u s i n e s s i n a Losing Economy

© 2011- 2013Vmax Performance Group

www.VMaxPG.com

Because we have confidence in your workBecause we perceive less risk with youBecause you understand my business and what is important to meBecause your people are helpful, cooperative, and easy to work withBecause you take responsibility for your work, regardlessBecause you solve problems others can'tBecause you have more resources available than your competitorsBecause you are responsive and address issues very quicklyBecause we TRUST you

Why you?

Tuesday, April 16, 13

What are we known for?

What do we do better than

everyone else?

What do we do that is unique?

What do our customers want?

Tuesday, April 16, 13

W i n n i n g B u s i n e s s i n a Losing Economy

© 2011- 2013Vmax Performance Group

www.VMaxPG.com

Does LOWEST PRICE mean lowest “cost?”Does LOWEST PRICE mean best final result?Does LOWEST PRICE mean innovative solutions?Does LOWEST PRICE ensure attention to detail?Does LOWEST PRICE ensure common sense will be applied to issues?Does LOWEST PRICE ensure cooperation between parties?Does LOWEST PRICE create understanding of customer’s intent?Does LOWEST PRICE guarantee expertise?Does LOWEST PRICE provide opportunity to adapt to new technology? Does LOWEST PRICE allow for best practices?Does LOWEST PRICE create the best customer experience?Does LOWEST PRICE mean timely support and follow-up?Does LOWEST PRICE mean on-time?

Does LOWEST PRICE create a standard that ensures clients get what they want?

Tuesday, April 16, 13

W i n n i n g B u s i n e s s i n a Losing Economy

© 2011- 2013Vmax Performance Group

www.VMaxPG.com

DependableOUTRAGEOUSLY

Tuesday, April 16, 13

W i n n i n g B u s i n e s s i n a Losing Economy

© 2011- 2013Vmax Performance Group

www.VMaxPG.com

Relationships

Strategic Partnering

Client Experience

Design Innovation

Technical Innovation

Unique capabilities

Competitive Advantages

Unique resources

Niche Expertise

Total Cost of Construction

Supply Chain Management

Logistics Management

Agility & Responsiveness

Tuesday, April 16, 13

3

Tuesday, April 16, 13

Business development...is the strategic integration of marketing,

FMI, 2012 Business Development Survey

SALES, and customer service efforts.

Tuesday, April 16, 13

W i n n i n g B u s i n e s s i n a Losing Economy

© 2011- 2013Vmax Performance Group

www.VMaxPG.com

Source: HR Chally 2007 World-Class Sales Excellence Research Report

Factors That Impact a Sale

•Price

•Quality

•Offering TotalSolution

•Effectiveness of the Salesperson

18%

21%

22%

39%

Tuesday, April 16, 13

© 2011- 2013Vmax Performance Group

www.VMaxPG.com

Failure to differentiate from competitorsPursue the wrong opportunities (bad fit)Fail to identify all decision makersFail to understand the client’s needs Make too many assumptionsFail to identify critical issuesIneffective presentationLack of credibilityFailure to build trust

WhyO!o"unities Are Lost

Tuesday, April 16, 13

“If you can't describe what you are doing as a PROCESS,

W. Edwards Deming

you don't know what you're doing.”

© 2011- 2013Vmax Performance Group

www.VMaxPG.com

Tuesday, April 16, 13

3. Develop a “selling” mentality

1. Create a plan

2. Fiercely exploit your competitive advantages

Tuesday, April 16, 13

W i n n i n g B u s i n e s s i n a Losing Economy

© 2011- 2013Vmax Performance Group

www.VMaxPG.com

$anks!

Twitter: @KellyRiggswww.VMaxPG.com

Tuesday, April 16, 13