Engineering Inc. - March/April 2010 - 11

who stuck with them when in North Carolina, which times were tough.” eventually netted the firm But not every potential $5 million for a two-year client rates star treatment. study. “In some cases, we In an era of heightened are getting paid for this; in competition, some firms are some cases, we do it as a also now more selective part of a business developabout the clients they work ment strategy,” says Ewing. with. Firms have to weigh the costs invested in pursu- “If you are New Opportunities ing a contract against a job’s waiting for Similar to Wall Street wizard long-term profit potential. Warren Buffett, who buys things to come There also are liability and when everyone is selling, legal issues to consider. “We back to some many in the industry have actually are trying to cut dependable adopted a contrarian view of down our number of clients workload on a 2010’s grim economic foreso we can focus on those you day-in-and-day- cast. “If that believe all the that are truly meaningful to pundits the economy out basis, you us,” Siegel explains. is going to get worse, you’ll To stay competitive in are going to be put yourself in a cautionary this environment, firms also waiting a long mindset that will cause you must become much more to sit on your hands durtime.” proactive—for instance, ing times like these,” S&H’s Bill Siegel helping customers find Hoffman says. “There are Kleinfelder funding to pay for projects. huge opportunities to take Industry consultant Kyle market share if you don’t Davy recommends that firms establish maintain a wait-and-see attitude.” collaborative relationships with project Though projects might be slow in comowners and builders. The goal: to become ing during 2010, the next several months more skillful at financing, so they can could represent a real boom for firms in bring their own capital to the bargaining search of new talent, young and old. table. “There are professionals today who “Why should firms be stuck in a tra- have never been available in the market, ditional business model of selling techni- including those thirtysomething engineers cal services by the hour when they can who are very good project managers,” move to a position that allows them to Hoffman says. “One or two of these types be rewarded more as entrepreneurs?” he of people in a midsize organization can asks. make a huge difference.” Recent retirees It often comes down to whose depleted retirement pooling resources. That’s accounts have forced them what Virginia-based Dewback into the workforce are berry did when members of another potential source of its GPS mapping staff detertalent. mined that a local agency On the other hand, firms and several federal agencies should be diligent about would benefit from updated keeping the employees they GPS mapping in one of its have. “We’re locking the market areas. door and not letting any“By themselves, each of “The last thing body out,” jokes Dewberry’s these organizations was Ewing. you want to unable to fund the projOther industry watchers ect. But we knew that do is acquire see the potential for growth if we could pool their somebody and fueled by acquisitions in the money, we could get the then start to months ahead. job done,” explains CEO “We are going to be pretty trim staff.” Ronald Ewing. Dewberry active in that area,” says TeD RiCHARDS took a similar approach to Kleinfelder’s Siegel; his firm Strand aSSociateS a climate change project recently finalized one acqui- sition and reached preliminary terms on another. Siegel considers three criteria when scouting an acquisition candidate: A firm must increase Kleinfelder’s share of a target market, expand its service capabilities and extend its geographic presence. Strand, meanwhile, is on the lookout for attractive domestic acquisitions, although Richards says he’s cautious about moving too quickly. “Everyone is wondering when we are going to come out of the recession. The last thing you want to do is acquire somebody and then start to trim staff.” Healthy Balance Though an upbeat attitude is an asset during tough economic times, there is such a thing as a healthy balance, says Ewing. Figure 2 U.S. Private Commercial Construction Projects ($ millons) $800,000 $766,170 $621,788 600,000 400,000 200,000

Engineering Inc. - March/April 2010

Table of Contents for the Digital Edition of Engineering Inc. - March/April 2010

Engineering Inc. - March/April 2010
Table of Contents
From ACEC to You
News and Notes
Market Watch
Legislative Action
How to Survive the Down Economy
Annual Convention Preview
Putting Transportation Design in Context
Sustainable BIM
The Case for QBS
AASHTO Uniform Audit & Accounting Guide
Insights from ACEC's Institute for Business Management
Members in the News
Engineering Inc. - March/April 2010 - Engineering Inc. - March/April 2010
Engineering Inc. - March/April 2010 - Cover2
Engineering Inc. - March/April 2010 - Table of Contents
Engineering Inc. - March/April 2010 - From ACEC to You
Engineering Inc. - March/April 2010 - 3
Engineering Inc. - March/April 2010 - News and Notes
Engineering Inc. - March/April 2010 - Market Watch
Engineering Inc. - March/April 2010 - Legislative Action
Engineering Inc. - March/April 2010 - 7
Engineering Inc. - March/April 2010 - How to Survive the Down Economy
Engineering Inc. - March/April 2010 - 9
Engineering Inc. - March/April 2010 - 10
Engineering Inc. - March/April 2010 - 11
Engineering Inc. - March/April 2010 - Annual Convention Preview
Engineering Inc. - March/April 2010 - 13
Engineering Inc. - March/April 2010 - 14
Engineering Inc. - March/April 2010 - Putting Transportation Design in Context
Engineering Inc. - March/April 2010 - 16
Engineering Inc. - March/April 2010 - 17
Engineering Inc. - March/April 2010 - 18
Engineering Inc. - March/April 2010 - Sustainable BIM
Engineering Inc. - March/April 2010 - 20
Engineering Inc. - March/April 2010 - 21
Engineering Inc. - March/April 2010 - 22
Engineering Inc. - March/April 2010 - The Case for QBS
Engineering Inc. - March/April 2010 - 24
Engineering Inc. - March/April 2010 - 25
Engineering Inc. - March/April 2010 - AASHTO Uniform Audit & Accounting Guide
Engineering Inc. - March/April 2010 - 27
Engineering Inc. - March/April 2010 - Insights from ACEC's Institute for Business Management
Engineering Inc. - March/April 2010 - 29
Engineering Inc. - March/April 2010 - Members in the News
Engineering Inc. - March/April 2010 - 31
Engineering Inc. - March/April 2010 - 32
Engineering Inc. - March/April 2010 - Cover3
Engineering Inc. - March/April 2010 - Cover4
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