We’ve helped many businesses prepare successful bids and to put the teams and processes in place to ensure continued success. Here are a few tendering tips we’ve learned along the way.
If you want to secure larger contracts in either the private or public sectors, you need to excel at formal tendering: it can be daunting. There can be stress and panic as the deadline looms and your organisation struggles to pull everything together. But it doesn’t have to be that way.
Submitting a formal bid that has a fighting chance of winning means a lot of hard work.
Ask yourself two questions:
• Do we have a realistic chance of winning?
• Will it be good for the business if we win?
Then decide – bid or no bid.
If you go ahead, make a list of everything that has to be provided in the bid. Create a plan. Clarify who is responsible for checking and providing every element, and by when. Put everything in a shared folder on your network so everyone can find it. Check, early on, that supporting documents and accreditations are up to date and comply with the client’s requirements.
Complying with the ITT requirements is just the start. Research your client’s important policy and strategy objectives and emphasize how your solution will contribute to them. Who will make the decision? Address the priorities of every decision maker. Paint a picture in words of the difference your solution will make. View your solution from the perspective of the person making the decision. Create interest and excitement, don’t just tick the boxes.
Show you want to win. Use active and positive language in your bid. Provide evidence of performance advantages that are meaningful for your client. Move the focus from price to the added and unique value you offer. Show confidence in your ability to deliver. A formal tender is likely to be for a substantial contract. Double check your assumptions, calculations and pricing to ensure you don’t end up being sorry you won.
The last hours before you submit your bid should be spent calmly reviewing your submission. It’s a final chance to refine and sharpen your key messages. Too often the opportunity is lost as the bid team scrambles around for figures, policies and supporting documents. Check that you have provided all of the specific information requested and fully answered every question. Don’t get ruled out on a technicality (it happens!).
Take the first step to putting your business in control of the tendering process…
Talk to Winning Tenders about a Tender Readiness Check >>>