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for DBEs
Planning & Promoting
Your Business to Win Contracts
Speaker: Mark
Vaughn, CPA
for DBEs Marketing 101 Who owns the company?
– Nobody will “sell” your company better than you will.
– Nobody has a passion for your company like you do.
– Nobody knows your company better than you.
– YOU ARE THE MARKETING DEPARTMENT!
for DBEs Marketing 101 (cont’d)
What do I say?– Tell about past accomplishments,
projects, successes.– Don’t exaggerate or overstate your
qualifications.– Explain the benefit the contractor
will realize by adding you to his team.
for DBEs Marketing 101 (cont’d)
When do I market my company?– Social gatherings– Conventions– Marketing meetings– Trade shows– Civic organizations (Rotary, Lions,
Chamber of Commerce)– Constantly
for DBEs Marketing 101 (cont’d)
Where do I market my company?– Set geographic ranges – 25 miles,
50 miles, etc.– Where can you travel and still make
a profit?– Are there locations with minimal
competition?– Are there locations with an
abundance of work?
for DBEs Marketing 101 (cont’d)
Why do I market my company?– Contractors need to know your
company exists.– Contactors need to know what
services you can provide.– Name recognition is key.– The bottom line – you want to grow,
make a profit, and eat.
for DBEs Marketing 101 (cont’d)
How do I market my company?– Strategy will vary and tools will
differ.– Joint ventures / strategic
partnerships– Mentor/Protégé Program– Building relationships
for DBEs Joint Ventures / Strategic Partnerships
Roles need to be clearly defined. What is the purpose of the venture /
partnership?– One job?– Series of jobs?– Ongoing relationship?
Who has control? Seek legal counsel to avoid pitfalls. Can be a DBE or Non-DBE firm.
for DBEs Mentor/Protégé Select a Prime contractor to
mentor you. Mentor and Protégé must be
approved by IDOT. Mentor must have at least five (5)
years experience. Protégé must have at least three
(3) years experience.
for DBEs
Mentor will provide guidance and advice to protégé.
A DBE protégé will naturally receive a benefit when bidding with the Prime.
The Prime receives a 5% goal credit for using the protégé.
Mentor/Protégé (cont’d)
for DBEs
Create marketing materials.– Website– Brochures– “Cut-sheets”– Business cards
Look for grants to help.– Southern Illinois Entrepreneurship
Center– Other
Building Relationships
for DBEs
Contact Prime contractors.– Review IDOT bulletins to see who is
winning the work.– Set up meetings to talk one-on-one
about the services you can offer.– Take letters of reference.– Don’t be shy, but don’t lie either.– Process may take several months.
Building Relationships (cont’d)
for DBEs Building Relationships (cont’d)
Be proactive.– Submit bids even when you’re not
asked.– Follow up on your bid. See how it
compared.– Don’t wait for Prime contractors to
find you.
for DBEs Building Relationships (cont’d)
Your work is your reputation.– Provide a quality service.– Don’t cut corners just because
you’re a DBE.– Ask for feedback from the Prime
throughout the job.– Once the job is over, the marketing
continues based on your work.
for DBEs
Mark E. Vaughn, CPA
Hutson & Associates, Inc.
3555 College Avenue
Alton, IL 62002
618-433-9229
Contact Info
for DBEs
Mark E. Vaughn, CPA
Hutson & Associates, Inc.
3555 College Avenue
Alton, IL 62002
618-433-9229
Contact Info
