Profitable contractors attend networking events not because they have nothing better to do; they do it because it pays off. You can either spend hours doing office tasks like bookkeeping or getting face to face with someone who may need your services. Meeting people gives you the chance to build and develop relationships, hire you, or refer you to someone who might.
Most of our contractor clients work alone or with a small team, making connections vital and refreshing to meet other professionals doing similar work.
Although not every networking event is going to yield a harvest. You might end up learning about all kinds of needs and opportunities about everything under the sun except what you came for - qualified construction leads to support your business. However, this is another path to cultivate and harvest repeatedly.
As an example:
- A home builder learns about a commercial tenant improvement contractor who needs bookkeeping services, and he refers us.
- While working with the commercial tenant improvement contractor, we find out they need a concrete contractor, so we refer one of our clients.
- While the concrete contractor is installing a backyard patio for a new client, they happen to mention needing a builder. The concrete contractor asks the commercial tenant improvement contractor to pass the lead on to the home builder, and the circle is complete.
How Do You Get Started?
Join local trade organizations like Master Builders Association, ABC Contractors, National Association of Home Builders (NAHB) and other organizations that represent your particular target market. We favor Master Builders Association because they cater to our target market.
Before joining, develop your strategic objectives, for example:
- Clearly define your target market - demographics and psychographics.
- Prepare your elevator pitch - a brief introduction on who you are and what you do or specialize in.
- Contact information - carry your brand by handing out company cards to potential business contacts.
When you join, find ways to serve the organization and the members, participate by:
- Attending meetings
- Joining committees
- Becoming a team-player
- Getting involve in activities
Identify Power Connectors and Referral Partners:
Power Connectors are the people who know everybody or at least it seems like it because their name comes up in conversations everywhere. Those are the people that you need to get to know, and when they attend an event if at all possible, you need to be there. It will take time to capture their attention and gain their trust. When they know you, like you and trust you, they can have a massive positive influence on your construction business.
There is a synergy that develops where everyone knows it is a safe place to share your dreams and ambitions. Sharing ways to expand your construction company, gain more customers, get sound advice about financial management, support for writing articles, or a book or perhaps developing a speaking career. It is excellent because you are among people you admire and respect who will offer a hand-up without forethought of personal gain.
To develop a valuable network is simple but not easy. With internet connectivity comes your online connections, as well. You must become highly skilled at identifying and adding the right people to your network and find ways to make more deposits than withdrawals. When someone invites you to join their social media group, check and see if it fits with your core values before accepting.
There is a popular phrase - "It is who you know that counts," which I disagree with because we all know a great number of people on varying levels from casual encounters to deep intimate personal relationships.
Here Is My Version For Construction Business Owners:
It is not what you know
It is not who you know
It is who knows you - that is what counts.
When Power Connectors know you, it's more valuable than silver and gold; they are the core of your network. They are the people who know, like, and trust you. Nurture and build your relationships with them by adding to each other's emotional bank account. They are the people who know you well enough to answer your phone call at three o'clock in the morning. That is what counts.
About The Author:
Randal DeHart, PMP, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington. He is the leading expert in outsourced construction bookkeeping and accounting services for small construction companies across the USA. He is experienced as a Contractor, Project Management Professional, Construction Accountant, Intuit ProAdvisor, and QuickBooks For Contractors Expert. This combination of experience and skill sets provides a unique perspective which allows him to see the world through the eyes of a contractor, Project Manager, Accountant and Construction Accountant. This quadruple understanding is what sets him apart from other Intuit ProAdvisors and accountants to the benefit of all of the construction contractors he serves across the USA. Visit http://www.fasteasyaccounting.com/randal-dehart/ to learn more.
Our Co-Founder Randal DeHart - Is a Certified PMP (Project Management Professional) with several years of construction project management experience. His expertise is construction accounting systems engineering and process development. His exhaustive study of several leading experts including the work of Dr. W. Edward Deming, Michael Gerber, Walter A. Shewhart, James Lewis and dozens of others was the foundation upon which our Construction Bookkeeping System is based and continues to evolve and improve. Check out our Contractor Success Map Podcast on iTunes.
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