Win More Projects Matching Your Firm’s Engineering Skills with our Marketing Process
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Now that you have identified your firm’s key strengths in Beyond the ‘Fluff’ Step 1: Pinpoint Your Firm’s Core Competencies, the next step is defining the types of projects that best utilize those competencies and also fit your firm’s needs in terms of profitability, risk, and other relevant factors.
Why Focus on Projects Requiring Your Core Competencies?
Because core competencies are almost impossible for competitors to duplicate, firms gain the greatest competitive advantage when bidding on projects which require their core competencies as an essential component for project success. For example if a project is extremely complicated and thus requires strong project management skills, an engineering firm with a core competence in project management will have a distinct advantage. In addition to the deeply ingrained skills and knowledge your firm has on projects related to your core competencies, your firm will yield better results on those projects because people perform best and most consistently when doing activities that leverage their strengths.
Excellent results produce satisfied clients and repeat business, and by proving your worth also make it easier to command your desired price. In this fashion, increasing the percentage of “ideal projects” your firm wins can have a substantial impact on your business volume and profitability.
Develop an Ideal Project Profile
The first step in increasing your firm’s “ideal project volume” is to develop an Ideal Project Profile as a common target. To create the profile, first use the exercises below to zero in on projects that best utilize your core competencies, and then refine the profile in the next section using the additional project and client characteristics.
From our fishing analogy in Beyond the ‘Fluff’ Getting Started – Marketing in a Nutshell: The goal of this step is to identify the types of fish that thrive on what you have to offer them (your firm’s core competencies). So you’ll list the types of projects that require one or more of your firm’s core competencies as essential elements. In other words, the things your firm does best are critical factors in ensuring these types of projects succeed.