If you’re a contractor or subcontractor who wants to build a solid, successful business, you need to start thinking about diversifying your projects. Focusing on one sector to make a name for yourself is fine, but what happens when the jobs dry up?
How do you get in on the building of that new school if all you have to show for yourself is a book full of residential builds? That’s where the Pre-Qualification Questionnaire (PQQ) comes in. Nail that and you open the door to more business.
What is a PQQ?
A PQQ is like your business CV. It shows potential clients why you’re worth hiring. Public sector contracts almost always require one, and private clients are starting to follow suit. So, a solid PQQ is non-negotiable whether you’re eyeing public works or want to pivot to the private sector when public jobs slow down.
But here’s the kicker: your PQQ isn’t just about ticking boxes. It’s about proving you’re the best for the job. Getting it right is crucial for building trust and growing your client base.
How to nail your PQQ.
1. Get your information in order.
Within the PQQ, you’ll be asked about your company turnover, management structure, health and safety and even your ESG. You want to make sure you have all that information to hand and it’s up to date. Because if you miss any details or provide outdated information, you could risk your chances of being shortlisted.
2. Show your relevant experience.
Like every tender bid, you need to tailor your submission to match the job. Going for a school refurbishment? Don’t include your work on social housing projects. It has to be similar, so think of all the jobs you’ve done over the past couple of years and write them down. What did you do? What type of windows did you put in, and what type of foundation? Have you worked on a flat roof construction or a pitched roof construction? The specifics make you stand out from the crowd.
3. Tell them how you’ll deliver.
If you’re asked in the PQQ how you’re going to deliver on the work, make sure to let them know every last detail. Explain how you’ll manage the project, from traffic flow to waste management to lean systems. Be as detailed as possible. Clients want to see that you’ve thought everything through.
4. Enlist a bid writer.
Bid writers are like copywriters—but for tenders. They’re pros at crafting PQQs and helping you stand out. If writing isn’t your strong suit or you’re strapped for time, hiring one could be a game-changer.
Why diversify your client base?
Focusing on just one sector is a risky strategy. Markets fluctuate, and what’s in demand today might not be tomorrow if public contracts dry up. Being able to move between different types of work is a huge advantage. It gives you the stability to weather industry changes and take advantage of opportunities when they come up.
Diversifying isn’t just about spreading your risk; it’s about opening up new opportunities and expanding your reach. It gives you more control over your business’s future and reduces the pressure to rely solely on one type of work.
Plus, a diverse portfolio makes your business more appealing to clients, showing them you’re not just a one-trick pony but a well-rounded business with long-term potential.
Final thoughts
Diversifying your business is a smart thing to do in this day and age. Nail your PQQ and you’re on the road to building a long-lasting, resilient business. Expanding into different sectors not only protects your company from the uncertainty of relying on one client type but also taps into more growth. Nailing your PQQ means you’re always prepared to tap into public and private contracts, keeping your pipeline full and your business more than ticking over.
Ready to diversify your business and set yourself up for longterm success? Talk to us at Carroll Estimating to find out how our expert team can help