One of the most important decision steps in the bid process… the bid or no bid decision. It’s so important yet very often not handled as it should be.
One of our most popular videos in our series is The Bid / No bid Decision: this talks you through the essential considerations and will help you and your team to decide what your chances of success are and hence whether it’s worth investing the time/money necessary.
Businesses that approach us for help with tenders have usually been disappointed by their low (if at all) win rate. We very often find the reason for this is that they have been letting their ego rule the process and not considered their realistic chance of winning a bid.
If the tender says you need a particular accreditation then if you haven’t got it, you will be eliminated from the process straight away. Likewise if you don’t meet the financial stipulations: the contract may simply be too big for you.
Winning Tenders have a methodology, which if applied will ensure you are only tendering for the bids you have a fair chance of winning… this is why we have a success rate of 75% of the tenders we submit.
Do you have a robust and objective process for making the bid/no bid decision?
• Do you have shared access to a bid library on your network so that everyone who needs to access bid documents can do so?
• Is it someone’s responsibility to manage that bid library so that it is up to date and version control issues are avoided?
• Do you have a nominated bid manager and clearly assigned responsibilities?
• Are you confident that you can write the bid submission clearly and succinctly?
• Are Health & Safety, Quality, HR and other policies up-to-date and compliant with the needs of your prospective clients?
Take a look at proposals your business has submitted in the past. How close are these to the levels of professionalism expected in a formal tendering process? Are your proposals really focused on the specific needs of each client and project, or are they generic with a few details changed?
These are just some of the issues you need to address. If the answers aren’t immediately clear and obvious your business isn’t ready to compete to win formal tenders – but you can fix that!
Take the first step to putting your business in control of the tendering process.
Complete the form below and we’ll be in touch to talk you through the steps…