Lindsey Krenke
Lindsey Krenke holds a comprehensive professional background in business development and commercial real estate. She has demonstrated expertise across the construction and interior solutions sectors, serving in strategic roles at companies such as Schuchart and DIRTT Environmental Solutions.
A Strategic Approach to Business Development
I have been a sales professional in business development and various leadership roles for the past 23 years. Understanding the industry, identifying key players and mapping out a strategy to build relationships have been among the most important things throughout my career. I have developed relationships with mentors, business leaders, influencers and connectors for more than 10 years, and every relationship is valuable.
I always ask how I can bring value to my customers and network. My role is very strategic, balancing what is best for the customer and the company. I spend much of my time understanding the market, staying close to customers and determining which relationships or connections can help move a project forward. I also focus on mentoring my team and helping them achieve goals that ultimately advance the organization.
Creating Value for Every Customer
I have been primarily in the built environment throughout my career, working with Fortune 100 companies including Microsoft, Amazon, the London Stock Exchange and Starbucks. I started my career in Denver, moved to Seattle over 10 years ago as the Pacific Northwest was becoming a tech hub and now I am in Nashville with Henriksen. Being on different sides of the table in different markets has given me a unique viewpoint on how customers work and how trends from the East and West Coasts influence growing markets.
At Henriksen, I work with architects and design firms, large general contractors, developers and end users. Each has different goals. My job is to understand what is happening in the market, what matters to those particular individuals and developing a strategy around that.
We do a lot of prefabricated interior construction, which is a niche sale focused on speed to market and flexibility. With our glass fronts and demountable prefabricated walls, we work hand in hand with architects to understand the aesthetics, functionality and workplace needs of their customers.
The value proposition changes depending on who is involved. Architects are interested in how a product achieves the desired aesthetic and supports the workplace. Commercial real estate firms are interested in flexibility, speed to market and shorter lease terms as the workplace environment changes.
My job is understanding the players, what matters to them and drafting a response that wins business, increases market share and margin.
General contractors have a different set of priorities. Their job is to manage risk, budget and schedule, so we have to respond to those key concerns. Understanding those differences allows us to communicate the value of our products in a way that is relevant to each audience.
We stay hands-on from design inception through integration and installation. The value proposition can change at each stage, so my role is to understand the players, what matters to them and how we can respond. Ultimately, the goal is to win the business while increasing market share and margin.
Technology Changes the Business Development Equation
Construction has been one of the last industries to adopt technology, but I have seen it increasingly shape design and prefabricated interior construction. We are utilizing technology to eliminate human error. We take base building drawings and manufacture within millimeters of the exact building dimensions. That can improve the speed to market, reduce construction problems and lower financial risk for clients.
In business development, AI has been a huge game changer. It has accelerated the time in which I am able to prospect, qualify and get in touch with the appropriate people. In the past, the sourcing business depended much more heavily on relationships and networking.
Today, I can use AI and various platforms to identify permits being pulled, leases that are coming up and businesses that may be moving, expanding or shrinking. That gives us much more visibility into the market and helps us get in front of potential opportunities much sooner.
AI has made sourcing business easier, but it has not eliminated the importance of relationships. Trust, communication and networks still matter when projects need to come to fruition, when companies are being selected and when pricing decisions are being made. Technology helps us identify opportunities faster, while relationships remain essential to turning those opportunities into business.
Building Better Processes
Understanding the market and competitive landscape is critical. One needs to know what competitors are doing and how they are winning business in order to respond strategically, not simply replicate their approach. Technology can create opportunities to bring value to customers more quickly and move beyond traditional approaches.
I have coached teams, including 20 salespeople, helping them develop strategies and identify gaps in processes. For anyone entering the industry, my advice is to understand the market, competitive landscape and the company’s mission statement. Once those goals are clear, build a business plan around them and develop a strategy for the customers and opportunities you need to pursue.
Reading the Road Ahead
Everyone’s time and capital are limited. It is important to understand what you bring to the table and to be able to explain clearly how you can help a customer. Before doing that, however, you have to ask questions and understand what the customer needs so you can respond appropriately.
Technology has expedited access to information, and people have become accustomed to that speed. Customers expect you to be prepared. They do not want their time wasted, so you need to understand what you are reaching out about, identify the value you can bring and communicate it concisely.
The more information people have access to, the more prepared we need to be. Asking the right questions, understanding the customer's needs and responding quickly are becoming increasingly important. Technology may help us get information faster, but the responsibility remains with us to know what to do with that information and bring meaningful value to the conversation.
