Online Training 2016 - Strategies to Compete on Value, even in a Low-Bid Environment, to Increase Profitability - By Compliance Global Inc

Overview
This webinar is for you, if you are:
Struggling to maintain reasonable profit margins
Finding it difficult to get repeat business from past customers despite doing a good job
Frustrated because it seems all the customers care about is price
Daniel Pink wrote in A Whole New Mind, “For business, it’s no longer enough to create a product that’s reasonably priced and adequately functional.” The best way to address this importance of market place is for electrical contractors to compete based on value. This is true whether a contractor negotiates work or competes in the low-bid arena. To compete on value the contractor must not only be able to demonstrate the value of the services it provides, but it must be able to present dominant proof of its superior value compared to its competition. The best way for contractors to add value is to participate in the design and construction process at the earliest possibility. The reason is that contractors can provide the greatest value before construction begins. However, even when contractors are forced to compete on plans and specifications, they must compete on value. One of Ted’s clients consistently makes higher profit margins bidding on low-bid projects, because of the value he brings to the project. Every marketing, business development, and company executive must understand the principles behind competing on value because that is the only way to create a sustainable competitive advantage that allows greater profitability. The construction industry has one of the worst ROIs, because of the myth that you must compete on price. This webinar explains how to escape that myth.
Why Should You Attend
Too many contractors believe they must bid on projects based on price, which is false. However, that mentality has forced contractors to focus on finding cheaper ways to do things. The consequences have been the eroding of value for customers. As the value has dropped so has profit margins. Worse, too many contractors don’t want to lower prices because they think they are paid a percentage of cost ? again; nothing could be further from the truth. Of course, we multiple cost times a percentage to determine our fee. This approach is convenient because it’s easy to agree on the cost and it is assumed the cost is related to the value. However, profit margins have declined over the last several decades because of the declining value delivered to customers. The good news is when contractors start focusing on delivering superior value they begin to see their profit margins increase. The fact, is you are paid a percentage of value you deliver and therefore, the greater the value you deliver, the greater your profit. The value proposition holds true whether you negotiate work or are forced to compete in a low-bid environment. The evidence is overwhelming that the construction industry’s profitability is in serious jeopardy. Even in the middle of the construction boom, the construction industry had one of the lowest ROI’s of all industries. This ROI fact is especially disturbing considering the risk involved which should provide higher returns. In fact, in 2008 in the middle the largest construction boom ever, the ROI for the construction industry was just over half of the ROI of all the other industries combined. In that same year 40 percent of contractors didn’t make a profit, which has certainly contributed to the fact that the construction industry has the second highest failure rate of all businesses ? the only one worse is restaurants. Competing on value is something contractors must do even if they are in a low-bid environment, and ROI training is crucial or they will continue to see their profit margins shrink until they can no longer survive.
Areas Covered in this Webinar
Obviously, competing on value is difficult. But certainly easier than being forced to compete based on price where often the low-bid is below your costs. The webinar starts with the dangers of competing on price. The good news is that danger creates opportunities for those that know what to do. Sun Tzu wrote in The Art of War, “Those skilled in war subdue the enemy’s army without fighting, their aim must be to take all under heaven and intact through strategic superiority.” While most contractors are not confronted by a shooting war, when they compete on price they in a “price war” that can be just as deadly to their business. In other words, competing on value begins with the right strategy. Therefore, this webinar explains how you can develop the right value strategy for your company.
Selling value is certainly different than competing on price. Contractors must understand the value proposition they are offering and be able to explain it to their customers. It’s true, about 27 percent of consumer buy totally by price. That’s okay because they aren’t our customers since we can’t make any money off them anyway. On the other end of the spectrum are the 17 percent that only buy based on value. These are the ideal client because they understand the value and make our lives easier. However, the key is the 56 percent in the middle that buy based on price or value. What’s important to understand is that they buy on price when they don’t understand the value. When contractors look the same, customers believe the price is the only differentiator. Therefore, it’s the contractor’s role to explain the value proposition to enable the client to buy based on value. The total of consumers that will buy based on value is 73 percent, so forget the idea that people only care about price. This webinar explains what you must do to clarify the value proposition and get people off the low price.
One important concept that contractors must address is defining the project from the client’s perspective. What this means is that you must understand what brings value to the client ? in other words, what is important to the client. Why is this important? Because clients will pay more for things that are important to them.
Finally, the webinar discusses how the contractor bidding can compete on value even when it is forced to be the low bidder.
Learning Objectives
Develop strategies to change you from a contractor to a partner
How to avoid being a peddler and become a solution provider
How build credibility and trust with clients
Develop strategies that focus on value, not price
Who Will Benefit
Senior Management
Business Development Managers
Project Managers
Superintendents
Sales and Marketing
Speaker Profile
Ted Garrison, CSP, has 25 years management experience constructing 10 million square feet of commercial buildings. Since 1996, Ted has served the construction industry as a consultant, author & speaker on construction management topics.
In addition to his Bachelor of Science in Civil Engineering and Bachelor of Arts degrees from Rutgers University, he has practical experience working in framing, trim, and survey crews. However, most of his experience has been working with general contractors and developers in project man¬agement or senior executive positions in the development and construction of hotels, office buildings and parks, storage facilities, and public buildings. During his last construction project, he was the Director of Construction on the Pennsylvania Convention Cen¬ter in Philadelphia, Pennsylvania’s largest non-highway public works project in history.
He is a recognized expert on in the area of business strategy within the construction industry. In fact his book Strategies for Contractors from Sun Tzu is a required text for the graduate course on Strategic Management for Construction at Drexel University. In addition to his book Strategies for Contractors from Sun Tzu: 20 Strategies to Improve Your business from the Art of War, he has also authored Strategic Planning for Contractors ? the First Building Block to Your Business Success.
He has also completed two research grants sponsored by industry educational foundations. These two grants have resulted in two additional books:
Strategic Thinking
The Impact of Integrated Project Delivery on Specialty Contractors ? Benefits, Risks and Opportunities
He is also the co-author of five books on sales and marketing, customer service and leadership. They include:
Celebrate Selling ? the Consultative Relationship Way
Celebrated Marketing ? the Secrets of Success
Celebrate Customer Service ? Insider Secrets
Marketing for People Not In Marketing
Mission Impossible
He has also written the e-book:
Buyers of Construction Services Are Their Own Worst Enemy
He has also written over a hundred magazine articles and columns for numerous construction industry publications in several countries.
As the former host of the Internet radio program, New Construction Strategies he has conducted hundreds of interviews on current industry issues with leading industry experts, academics, business leaders and political figures which have given him fresh insights into the industry’s challenges.
As a consultant, he has worked with contractors to develop their company’s strategic plan as well as worked with others to improve the operational efficiency and market focus. The benefit of his research grants and his consulting efforts is that it keeps him in touch with what is happening in the industry ? in essence, what’s working and what’s not working. This information translates into sound and practical advice for other clients and his presentation attendees.
In addition to his consulting, since 1996 he has averaged over 50 presentations/year to international audiences, including AIA, ABC, AGC, MCAA, CFMA, CMAA, DBIA, IEC, NECA, SMACNA, NFSA, World of Concrete, & others. He has conducted seminars in Dubai, Abu Dhabi, Saudi Arabia, Russia, Canada, Bahamas & Australia. He has been a member of ABC, AGC, and DBIA. He has earned the National Speakers Association and the Global Speaker Federations highest earned designation, that of Certified Speaking Professional (CSP). This designation is earned by about 7 percent of the world’s professional speakers.
Level
Intermediate
For more detail please click on this below link
https://complianceglobal.us/product/700283/TedGarr...
Email: referrals-AT-complianceglobal.us
Toll Free: +1-844-746-4244
Tel: +1-516-900-5515