More Questions Answered: Strategies for Small, Emerging and Minority-Owned Firms

The challenges of small and emerging growth firms are unique. Here are great questions about business development strategies for small, emerging and minority-owned firms.

It seems that most of the work that gets “won” is garnered by firms that do a lot of networking and getting an “in” with the potential client (in this case I am talking mostly about municipal and institutional clients). As a small, woman-owned firm, my comfort level in doing this is very low and I have pegged my hopes of succeeding on past experience/good work. Am I doomed if I can't do the kind of schmoozing that's needed these days?

"Doomed" is being a little hard on yourself. You didn’t tell me what kind of work you do or where, so grant me some leeway. You have some options:

• Option A. Target clients who have smaller projects with whom you’d be comfortable in developing a relationship. If you are an architect, by definition, you have what I call “rejection issues.” You hear “NO,” when really the client is saying “not now.”
• Option B. This isn’t my favorite and it assumes that you could carve out a role, but you might be more comfortable as a sub consultant. As a sub, direct client marketing isn’t required. Instead, develop relationships with prime firms for smaller work scopes where they might derive credit for your WBE certification (assuming you have this).
• Option C. Focus on small projects that are “set-asides” for WBEs or underutilized business enterprises and then develop relationships with people you’d like to support you. That way you’re in a more comfortable position.

The economy has caused me to strike out on my own to keep working. What advice can you offer a 1-person start up practice with a focused market for consulting services, not so much design?

Network. Your first line of business is going to come from and through people who know you. Remember my breakfast, lunch and coffee rules! Have coffee with anyone, whether you see a fit or not. Save lunch for potential clients, and only have dinner if you have a signed contract. Aside from managing your waist, this manages your marketing budget, too!

Got more questions? Send them along to me at kcompton@a3kconsulting.com. And for more information, see the AIA PMKC webinar Wisdom of the Ages: Best Practices in Business Development Part 2. This popular series and other resources are available on A3K Consulting's "Inform" webpage.

Karen Compton, CPSM. Karen Compton is principal of A3K Consulting (Glendale, CA), a business development and strategic planning firm specializing in the architecture, engineering and construction industries. Ms. Compton is also the founder of Industry Speaks™, a web-based business-to-business portal that connects AEC firms with experienced consultants, provides peer reviews of consultants, reports on key industry trends, and publishes expert reviews of professional courses and books. Contact her at kcompton@a3kconsulting.com.