Future proof through business development
As turbulent as the marketplace is at present, the focus on rebuilding economy through infrastructure development is creating a wealth of opportunities for the construction industry. The question is; how can companies best capitalise on these opportunities?
Now may be the ideal time to bring in senior expertise to focus on securing a pipeline of work.
Often business development is seen an extension of an operations director role. Overseeing current projects extends to identifying future opportunities at the same time. However, the opportunities now being presented come in the form of new technologies, offsite manufacturing and making use of renewable resources or circular economy strategies.
Operations directors already have their hands full overseeing projects and adapting to marketplace challenges. If a business really wants to focus on growth then having a director dedicated to securing contracts can well be the key to business growth.
Benefits of having a dedicated business development director:
FUTURE VISION AND SECURITY: Right now there is still a great deal of uncertainty in the economy. But having a business development director whose role is to capitalise on industry opportunities can help define the future vision and direction for the business. Winning the contracts will ensure sustainability of the business and boost the confidence in the business to shareholders and employees.
DRIVE OPERATIONAL CHANGE: Future operations are likely to be dictated by where the opportunities exist. If this resides in new technologies or strategies it can drive change in an organisation that can make it more efficient and a market leader with specific expertise.
ENCOURAGE INNOVATION: Being able to capitalise on business opportunities, may require business units to adapt their knowledge and skills. “This is the opportunity, how can we use what we have, and adapt the expertise and resources we have to win the contract?”
IMPROVE COLLABORATION: The need to win new projects can be the driving force behind improving collaboration between business units and having a director reinforcing this can help strengthen the organisation as a whole.
MANAGE COMPLEXITY: With tenders being complex and lengthy procedures, they require the input of various departments. A business development director with the ability to identify which business units would be able to deliver on the contracts, and coordinate with various department heads to ensure that there is sufficient expertise and capacity to do so will be a huge asset to the business.