2 Flashcards
Simply everything and every step done in order to make the
architecture firm more successful.
Architecture firms of all sizes need a plan to develop new business so that they can sustain growth and stay competitive in the market.
Consistent business development efforts help maintain ansteady pipeline of projs, ensuring a continous flow of revenue
BUSINESS DEVELOPMENT
KEY ASPECTSINBUSINESS DEVELOPMENT
MARKET RESEARCH AND ANALYSIS
CLIENT RESEARCH MANAGEMENT
BRANDING AND MARKETING
PROPOSAL AND BID MANAGEMENT
PARTNERSHIPS AND COLLABORATIONS
Understanding the sectors, geographical areas and
client types that offer the most potential while keeping
up with industry trends and technological
advancements.
MARKET RESEARCH AND ANALYSIS
Building and maintaining strong relationships with
clients through regular communications and excellent
service
CLIENT RESEARCH MANAGEMENT
Creating a strong brand identity that communicates the
firm’s value proposition and using various tactics such
as social media to increase visibility and attract new
clients.
BRANDING ANDMARKETING
Responding to requests for proposals (RFPs)
and participating in bidding processes to
secure projects
PROPOSAL AND BID MANAGEMENT
Building relationships with other professionals such as
contractors, engineers and developers to
create collaborative opportunities
PARTNERSHIPS AND COLLABORATIONS
BUSINESS DEVELOPMENT COMPONENT
EXECUTIVE SUMMARY
BUSINESS DESCRIPTION
MARKET ANALYSIS ANDSTRATEGY
MARKETING AND SALES PLAN
MANAGEMENT AND ORGANIZATION DESCRIPTION
PRODUCTS AND SERVICES DESCRIPTION
COMPETITIVE ANALYSIS
OPERATING PLAN
FINANCIAL OPERATION AND NEEDS
EXHIBITS AND APPENDICES
Overview of the business plan as a whole and
highlights the products and services offered
EXECUTIVE SUMMARY
Description of the business, its goals, products,
services and target customer base.
BUSINESS DESCRIPTION
● Location of target market
● Needsof target market
● Demographics of target market
● Where your target market spends most of their
time.
MARKETANALYSIS ANDSTRATEGY
Includes how you plan to market your products and
services
● Marketing promotion strategies
● Pricing plans for your products and services
● Yourunique selling proposal
MARKETING ANDSALESPLAN
The company’s leader and human resources indicate
their qualifications and responsibilities.
MANAGEMENT AND
ORGANIZATION
DESCRIPTION
Further details the description of products and services
company offers written in the executive summary
PRODUCTSANDSERVICESDESCRIPTION
Detailed comparison with competitors which includes
strengths or weaknesses on the competition in the
marketplace.
COMPETITIVE ANALYSIS
Describes how the company will operate such as
shipping, logistics and patent for intellectual property.
OPERATING PLAN
Describes the sources and amount of funding.
Includes financial statements, analysis and cash flow
projection.
FINANCIAL OPERATION AND NEEDS
Extra information such as permits, legal documentation
and pictures of the final product.
EXHIBITS AND APPENDICES
BUSINESS DEVELOPMENT MISTAKES
NOT FOCUSING ON YOUR CLIENTS
FAILING TO IDENTIFY YOUR MOST PROFITABLE
CLIENTS
TALKING TOO MUCHLISTENING TOOLITTLE
CONFUSING BUSYNESS ANDPRODUCTIVITY
CONFUSING SALES WITH
BUSINESS DEVELOPMENT
FAILING TO PREPARE
Getting caught up in the day-to-day operations
and failing to keep your focus on clients and
customers
NOT FOCUSING ON YOUR CLIENTS
The 80/20 rule says that 80% of your business will
come from 20% of your clients.
FAILING TO IDENTIFY YOUR MOST PROFITABLE
CLIENTS
it’s important to remember that communication is a
two-way street, take the time to understand their needs
and wants.
TALKING TOO MUCHLISTENING TOOLITTLE
Just because you’re busy doesn’t mean that you’re
being productive. To be truly productive, you need to
focus on activities that will create
value for your company.
CONFUSING BUSYNESS ANDPRODUCTIVITY
Sales is about generating revenue and
Business Development is about creating long-term
value for the company
CONFUSING SALES WITH
BUSINESS DEVELOPMENT
Business development is all about creating
opportunities and then capitalizing on them. But
if you’re not prepared,you won’t be able to take
advantage of those opportunities
FAILING TO PREPARE
BUSINESS DEVELOPMENT STRATEGIES
MARKETPENETRATION
MARKETDEVELOPMENT
PRODUCTDEVELOPMENT
Strategy of increasing your market
size either by selling current products to new
customers or selling new products to current
customers
MARKETPENETRATION
Entering new market with existing products
MARKETDEVELOPMENT
Creating new products or services to current or new
customers
PRODUCTDEVELOPMENT
Adding new products or services that are different from
the existing products in your portfolio.
DIVERSIFICATION
forming cooperative relationships with other
businesses that share common goals, interests,
values, or customers
STRATEGIC ALLIANCES
Granting or obtaining the right to use your intellectual
property such as patents, trademarks designs or
know-how to or from another business for a fee or
royalty.
LICENSING
Combining your business with
MERGER AND ACQUISITIONS
ARCHITECTURE FIRM BUSINESS MODELS
EFFICIENCY BASED
EXPERTISE BASED
EXPERIENCED BASED
● This model is for architecture offices that can
deliver projects faster
● frequently fo less
complex projects or take on similar projects to
those they have already completed.
● typically provide a
limited range of services or a standard scope
of work that is familiar and reproducible
● The goal is to adhere to standards while
delivering projects quickly and efficiently in a
highly predictable manner
EFFICIENCY BASED
● This business model is for architects with
extensive knowledge of a specific project type.
● One example is the office of Frank Gehry, he
is sought after for his eye-catching design. He
also takes on cultural projects that require a
high level of expertise
EXPERTISE BASED
● It is the most common model used by
architects who want their firms.
● practices strive to provide
clients with design services while solving
unique problems
● This type of firm can take on more complex
project types
EXPERIENCED BASED
The business model of an architecture firm guides its
operations, marketing, and design approach. Choosing
the right model early on helps align the firm’s goals
with its long- term vision, attracting clients and
fostering sustainable growth
IMPORTANCE OF BUSINESS MODEL IN
ARCHITECTURE FIRM
● Thecoreof your architect practice
● Whatsets your services apart
HOWTOCREATEABUSINESSMODEL
VALUE PROPOSITION
● Whoareyourclients?
● Understanding your target clients will inform
many of your strategic choices
CUSTOMERSEGMENTS
● Howwill you connect with your clients?
● Think about leveraging professional
networking sites.
CHANNELS
● It is about how you engage with your clients
and ensure their satisfaction and loyalty.
● Personalized service, regular project updates,
and responsiveness to client needs are crucial
CUSTOMERRELATIONSHIPS
● You’ll reflect on how your architect practice will
generate income.
● Beinnovative and think about what aligns with
your expertise and client interests
REVENUE STREAMS
● These are critical tasks required to run your
practice
● Identify the activities that are essential to
delivering your value proposition
KEY ACTIVITIES
● These are the assets vital to support your
value proposition
KEY RESOURCES
● This might involve collaborations with
construction companies.
KEY PARTNERSHIPS
● It is crucial to distinguish between fixed costs
● Running an architecture firm entails various
expenses
COST STRUCTURE
● Howwill you connect with your clients?
● Think about leveraging professional
networking sites
CHANNELS
The _____of an architecture firm defines its core
business, outlining its objectives and the strategies it
will use to achieve them.
MISSION
The __________ is to highlight a
company’s core values and serve as a clear
declaration of its purpose. It helps both customers and
employees immediately understand what the business
is about and what makes it unique.
purpose of a mission statement
The __ of an architecture firm outlines its long-term
aspirations and where it aims to be in the future. It
describes the firm’s broader goals, such as becoming
a leader in sustainable design, expanding into new
markets, or achieving
industry recognition for
innovation and excellence.
vision
is a market assessment tool used
by businesses and entrepreneurs to understand how
their company compares to others in the same
industry or niche.
industry analysis
COMPETITIVE FORCES MODEL
- Threat of New Entrants
- Bargaining Power of Buyers
- Bargaining Power of Suppliers
- Threat of Substitutes
- Rivalry among Existing Competitors
IDENTIFYING THE FORCES
- Buyers
- Suppliers
- Substitutes
- NewEntrants
- Competition
