It's easier to keep them than to win them anew

Dinner with Baroness Thatcher: I had dinner with Baroness Thatcher the other evening - well, me and about 150 other people. She was of course on fine form accompanied and supported as ever by Dennis. Yes, she still has the power to command and control a room full of people simply by her presence and no, they were not necessarily the converted. She spoke of the greatness of Britain, reminding us that we stand in history as the best nation on earth, built on a tripod of liberty, rule of law and social structure and whilst we must continue to do business with the Continent, we must always remember that we are a block of land well away from the rest of Europe.

Strong leadership, diverted: There has always been strong leadership in the construction industry but so much of it is diverted to finding weaknesses in teams and faults in designs - technically clever people using their skills in the wrong direction. Some builders can't seem to break the habit of profiting by people's mistakes. I regret to say that even on some of our projects where teamwork is the foundation of our success, we still find old attitudes from contractors festering like a carbuncle.

Five-year plan: At our annual staff get-together this week, we reported on our results and discussed the current five-year rolling plan. I shared my best kept secret. I whispered: "If you do a very good job for someone, no matter what it is, I can promise you that when the next one comes along, you will get it - not the competition." Staggeringly simple, isn't it.

Win a new client: British Telecom in its current advertising campaign confirmed that it is six times more expensive to win a new client than retain an old one. Even in the restaurant business where there is an abundance of choice, they have their own scams, adding service not only once on the bill but again on the plastic. One I saw last week said: "A suggested gratuity of 12.5 per cent will be added to your bill."

Very large player: We have recently entered into a long-term project management contract with a very large player, where we are to receive a similar percentage gratuity if we succeed in delivering the project to our client's entire satisfaction. There are no contract conditions to achieving this, merely a simple exchange of letters confirming that fact. If we do it, we get it, if we don't we won't. Lots of clients are waking up to the fact that people making between 0 and 5 per cent profit margins are not going to grow their businesses to provide satisfactory business solutions to their client's needs. Competition should be based not on how cheaply companies can deliver the project but what value they bring to the party. Not survival of the fattest, but the fittest.

Grace: And finally, when grace was said prior to the Lady's pre-dinner speech, it was the following: "Please God enjoy this fare and keep us safe from Tony Blair." I think however we have got him for some time to come.