About 75% of all construction businesses survive through their first year. This percentage drops to 65% by the second year, and by the 5th year, only about 35% of all the construction companies remain in the business. However, if you consider the COVID-19 pandemic factor, you’ll notice that there are more failures than these percentages suggest.
If you own a construction company or constantly submit bids for construction jobs, you must adapt to new trends and strategies.
Winning a construction bid is difficult, and you must develop a well-thought-out and accurate bidding proposal. Once you start making more bidding proposals, expanding your construction company into a big powerhouse operation becomes easier.
Here’s how you can find the best construction projects to bid on.
Why is it necessary to learn how to find construction jobs?
You need to learn how to find construction jobs to diversify and expand your work portfolio and advance in your career. This will especially be helpful if you’re a new independent contractor or project manager and would like to begin with better opportunities.
Learning how to look for high-quality construction job opportunities will help you succeed in your career.
Here’s are some construction bid sources:
- Construction bidding websites: Various websites offer free or paid construction bidding opportunities.
- Online search: You can search for new developers and bidding websites on various search engines.
- Networking: Interact with various people by visiting events and conferences to expand your professional circle.
- Cold communication: Get in touch with project decision-makers through cold emails or cold calling and try to secure a face-to-face interview with them.
- Word of mouth: This kind of publicity is usually done by satisfied clients. Therefore, if you can deliver your projects on time and keep your customers happy, they will spread the word about you.
The best ways to find construction jobs to bid on
Here, we’ll be discussing seven important steps that you can follow.
1. Form business goals
It’s your goals that drive action, and the same goes for construction companies. You’ll need to first determine what you want to achieve at the end of the year and the ROI you wish to achieve. After that, you must decide upon the number of projects you’re willing to undertake to achieve your set target.
Make sure that your ROI per project matches the ultimate ROI target you’ve set for yourself. If you find that a project of a particular geographical location offers more return, it makes sense to deploy your resources in securing projects from that particular location.
This is something you’ll likely learn with experience. However, make sure your actions are always driven by the goals you’ve set for yourself.
2. Create a proposal when you get offers
Proposals form a core part of the construction business venue and help you with selling your services. You’re bound to get multiple enquiries about your quotations and proposals. Ensure that you have a couple of sample proposals ready to pitch to prospective clients.
This proposal can include the basic cost of material and labor, as well as other overhead expenses that are common to every construction project. You can add specific costs according to the client’s requirements.
3. Always be ready to present your qualifications
Another important step is preparing to showcase your qualifications for each project. You can either update your resume with your qualifications or your previous project descriptions. Make sure that you have all the permits required to undertake a construction project.
4. Sign up for job bid lists
Sourcing construction projects can be a difficult job for those new in the business. However, there are various third party platforms that offer you an opportunity to connect with prospective clients and bid for projects. While some are available free of cost, others might charge a fee for their services. Some popular sources of construction opportunities include:
- Construction Bid Source
While the first three options are free sources, you may have to shell out a subscription fee for other options on the list.
5. Arrange appointments with clients
You’ll need to develop a strong relationship with your clients to get various construction job opportunity leads. If there are many applicants, a strong and healthy relationship with the client will be beneficial, and your bid will stand out.
So to improve relationships, schedule in-person visits with your clients to discuss their requirements and abilities.
You can also design a regular schedule to meet with as many clients as possible to make the process simple. First, you’ll have to determine how much time and resources you’ll be spending on these visits. When visiting your clients, always remember to bring your business cards, previous project reports, and any other material to showcase your professionalism.
6. Finalize the potential list of clients
Once you’ve completed the above steps and have visited the clients, you’ll be able to create a list of potential clients. This is where you can leverage your professional networking to gain knowledge about more prospective clients in your geographical target location.
You can also add some clients you believe are a strong fit and who you may want to work with in the future for business expansion.
7. Look for referrals
You may also ask previous clients to help you find quality construction jobs. If you’ve successfully completed construction jobs for previous clients, you can ask them to put in a good word for your business and share their positive experiences with other clients in the construction industry.
Once you’ve completed projects, you can discuss your business goals with previous clients to see whether they can offer any new opportunities. As your list of satisfied and happy clients expands, your frequency of contact with clients from different parts of the construction industry also improves.
Persistence is key
If you’re using lead generation services, remember to check back for daily updates. If you’re speaking to potential clients, make a schedule to interact with them regularly until the project starts. This will showcase your dedication towards your work and also help prioritize your job search while you take on new projects.