In the wake of the recession, Gilbane ratcheted up training with a focus on best practices, lessons learned and case studies. The company also adopted a strict "go/no-go" approach. "Chasing work is expensive, and it is not smart to dilute your profits by chasing too many jobs. We are being extremely disciplined when looking at what projects to pursue," Cornick says. "We are focusing our resources and efforts only on the jobs where we have a clear path to the finish line.

"New client relationships must be built way in advance. You have to have the trust of the owner before the RFP comes out so they feel you can do the job and you are one of the select few they seriously consider," Cornick adds. "Rising to the top of that short list is about more than face-to-face sales calls with owners. You must also cultivate relationships with engineers, architects and project management firms because they play a part in the decision process as well."

Like many top GCs, Tempe, Ariz.-based Sundt Construction has remained profitable by focusing on its core customers and selectively choosing in which market sectors and geographic areas to compete. In recent years, more than 90% of the company's work has come from repeat business within existing markets, says Jeffrey Perelman, Sundt's chief growth strategist.

"To wander into a new sector or new geography is not a good return on investment right now because you'll end up joining the fray of too many competitors. We use our resources where we have a better advantage. With a repeat customer, we have the factual advantage. We know what their priorities are, the places where they are willing to shave costs and the places where they are not," Perelman says.

"The reality is that customers can't make a bad choice in this market when working with the top firms, so the key is differentiation and added value," he adds.

At the start of 2013, Balfour Beatty Construction, headquartered in Dallas, had $7.6 billion in backlog and 844 projects under way. Manny Katinas, BBC's customer service director, credits the company's post-recession success to its trademarked Mission Alignment Process, implemented in 2005. From Day 1 on a project, BBC creates a custom survey to address each client's needs and priorities and then meets regularly with all key stakeholders through the project to correct problems or misunderstandings along the way. The process, Katinas says, helps keep lines of communication open and establish trust with clients.

"Understanding what our clients like and do not like has never been more important than now and in recent years," Katinas says. "Before we even know that a new project is coming down the line, we are out there building relationships with clients, reminding them of our differentiators—our people, our service and our efficiencies. When a project does come along, our goal is to be the first firm they think of."

Since the recession, BBC has adopted a national model for business development. While there is still a lead business development executive within each BBC office across the country, the firm contracted an outside consultant to develop a formula for RFPs nationwide and to oversee business development activities.

Hard-Bid Bygones

The most successful firms are focusing on business development and opting out of the hard-bid game when 10 or more companies go head-to-head to undercut each other on price alone.

"It's a lose-lose for everyone, and it's ruining the market. Contractors lose money, or worse, cut corners to deliver the project on an unrealistic budget," Perelman says. "Then the owner loses in quality. The top contractors know that our reputations and time are far too valuable to play such games."

The cornerstone of Sundt's business development is "disrupting the supply chain" in an effort to deliver owners with the certainty they need in today's market.

"The contractor is still the one who knows the most about a project's constructibility cost and the implication of the design," Perelman says. "We are trying to circumvent the old way where the contractor came into the equation after the architect creates the design. We want to be at the front end of the decision chain, working with the owners even before they have secured financing. At the start, we can offer our clients the most value with constructibility assessments and true costing that takes the risk out of securing financing."

Cornick adds that business development is not enough and innovation is more important than ever. "Clients have become very demanding because they can be. They want to build more for less and maximize their return," he says. "If you don't come to the table with creativity and ideas, you're just one of the pack."