While project approvals suggest growth in the mining industry, business development remains the key to success.
The mining and construction sectors have seen a lot of change over the past 10 years, with the post-mining boom economy creating difficult times for many businesses and related industries. Over the recent months, an increase in project approvals suggests growth in the industry. Several mines have received approvals over the past six months including:
- Meteor Downs South by U&D Mining
- Wandoan Mine by Glencore
- Byerwen Project by QCoal
In addition to this, there have been a number of reopened projects including:
- Blair Athol by Terracom
- Isaac Plains by Stanmore Coal
- Collinsville mine by Glencore
Coupled with these mining projects has been the commencement of the Cross River Rail project as well as early work with the new Brisbane Casino. After a period of bleakness, these projects are now creating project opportunities for consultants, subcontractors, suppliers and support staff in Queensland.
Client Audit: A Vital Tool For Business Development
These projects will mean good things for those that provide services in the construction, waste, engineering and mining industries. However, business development remains a challenge for many firms as securing an opportunity can be difficult. Organisations know that pursuing new business and holding onto existing clients is vital to their success. However, most companies are not winning enough new contracts to meet their business objectives. A vital tool for increasing your appeal to clients is conducting client audits.
A client audit is about getting genuine, useful feedback from your clients. Feedback can show you where you provide value to your clients, and where your service requires improvement. This information can help you plan corrective strategies to solve any problems while reinforcing strategies that are working well. Businesses might gain this information through online polls, surveys or even face-to-face discussion. But receiving honest evaluations from clients can be difficult to do. Clients often won’t tell the provider the truth as it may cause an argument but then simply not reappoint the contractor/consultant.
Harbak has found that clients are more willing to truthfully review a service to a third party. Providing full business development services, including client audits, the Harbak team can find out the real issue and ensure you secure your projects. With over twelve years in the engineering industry, Harbak delivers real value in client audits, in some cases discovering and managing hidden issues and opportunities for businesses that upper management was unable to identify. Revenue can be secured rather than it simply disappearing.
Keiran Travers is the Founder and Director of Harbak. The company provides Business Management, Business Matchmaking (Business Development) and Advisory Services. Harbak offers business matchmaking services for small to medium-sized businesses wanting to consolidate their existing clientele, and grow their business connections and opportunities. Harbak can facilitate low risk introductions with key industry stakeholders and find hidden revenue opportunities to drive business growth. Contact Harbak now to find out how you can expand your business opportunities.