Dominant Aspects Of Preparing Bids

Winning tenders can lead to a major growth for your company. However, if you are starting and responding to your first offer or experienced in this process, there are some key aspects of the process to take into consideration while preparing the bids. If done right, your company is surely aiming for success.

Understanding that the process is a long-term goal

Before responding to bids, it is very important to understand that writing winning bids can be a long-term process. To be realistic, the chances of winning a tender bid is like one in three. You cannot expect to win every proposal you respond to. It’s not likely that you will be the first to respond, so you need to be realistic with your response. Approaching the offer with the mindset that it is a long-term process is one of the many strategies needed for growth and it will ensure that you are ready to face the competition along the way.

Evidence of capability to complete the job successfully

The successful preparation of the offer is based on evidence. How do you prove to the organization that you have the experience and that you are capable of efficiently and successfully completing the offer? You need to show that you can complete the job to the required standard. This can be demonstrated through examples of past works, experienced and qualified staff, internal systems and procedures or awards and recognition. Nothing shows that you are capable more than the works carried out successfully within specifications and budget. This is why it is important to keep records, photographs and contacts (referees) so you can have proof of your success.

Professional tender preparation

Your tender document must have a professional appearance, clear and well established. Large companies use graphic designers and writers of professional offers to prepare their material. It does not matter if you are preparing an expression of interest for a small subcontracting role or a major multi-million dollar project, the information you provide is the one that represents your company. How well you portray yourself, the text and the overall presentation is a direct reflection on your company. Your presentation should be clear, concise, relevant and easy to follow. Use the title pages, content lists, and separate attachments. This will make it easy to read and clear to follow.

Setting Prices

Everyone knows that pricing is important, but how important is it? If you are too low the organization will think you either do not understand the project or it will not be viable in the long run. If you are too expensive, you price yourself out of the market. Finding the right price is essential.

Conduct research and understand the culture of the organization

It is essential to know the organization to which you are applying. What are their priorities? What do they value in a provider? What is the company looking for on this specific occasion? Make contact with the organization if possible or attend any on-site inspection. This will provide valuable information about what they are looking for, along with pricing requirements.

The process of tendering is becoming more and more competitive. To win a new business you need professional tender preparation that captures the attention of the organization and clearly positions your company as the ideal provider. Keeping the above points in mind while preparing your tender will ensure that you are on the right path.