Don’t you just hate it when you put a lot of effort into a bid, and fail? Whether it be a Request for Tender (RFT), Request for Quotation (RFQ) or Request for Proposal (RFP), all require time, effort, and resources, and can then be wasted by a mistake which causes you to lose out.
Yet most such mistakes can be overcome relatively simply by following a few rules. For the sake of simplicity in this article I refer to all types of bids as tenders. Although there are some differences in the intent of each, they all seek an offer from you. Always remember, it’s about them, and the outcome they want, and not you.
The mistakes and how to overcome or avoid them are common to all.
Why do you need to avoid those mistakes?
It’s simple really - money, income, revenue. Government, whether it be Federal, State and Local, procure largely through tenders. And they are big spenders.
Quite literally, many billions of dollars or work for goods and services are put out for tender each year. But don’t think this is only for the big boys. The majority of contracts by number, usually 65% or more, are let to SMEs (entities with 200 or fewer employees).
And frequently those contracts can run over a number of years, giving you a solid base to your cash flow.
In each jurisdiction the state or territory government is the largest single source of contracts.
It is not just government that procure through tenders. Businesses do also. The larger the business the more formal will be its procurement processes.
There are some differences of course. The bigger the government decision, the more likely it is to drag. The private sector is less averse to risk and typically makes their decision in a much shorter timeframe.
But the more formal the private sector’s procurement processes the more likely the same mistakes are likely to creep into respondent’s submissions. So learning how to avoid the tendering pitfalls will make a significant difference to your business.
Preparing tenders and quotations can help you to win big orders, but it can also be time-consuming, cost money and tie up valuable resources. If you don't get the contract the money and time spent is lost, so you need to weigh up whether a tender is worth bidding for.
So spend a little more time on preparing your next Tender, proposal or quotation.
Last year I ran a Pilot course online - “TenderWins – The Tender Winning Formula”.
I believe now is the time to run it again
If you are business which:
- Would like to crack the government market, but don't know how to do so.
- Continually tender for these contracts, but don't win many.
- Can't afford to lose a government contract which underpins your business
this course will help you to develop the skills you need.
TenderWins will help you develop the skills to submit well presented, compliant and compelling responses so that you win more tenders, without stress or feeling under pressure. You will learn how to prepare for, analyse and persuasively respond to tender requirements.
To develop compliant, persuasive responses we will look at Preparation, Planning, Pricing, Writing, Presentation, and Submission.
As you would know, we all learn best by “doing” – exercising the mind through activities to put into practice what we have been learning. But it has to be meaningful activity, not theoretical, if we are to transform your tendering. So that’s what you will be doing. I will be giving you practical, real life activities to reinforce what you have learnt each step of the way.
“TenderWins – The Winning Tender Formula”. will be delivered by online video, supported by regular live Q & A sessions. You will also have personal access by telephone and email once a week.
You will also have personal access by telephone and email once a week.
You can win more – and here is no reason why you shouldn’t do so. Follow the formula and turn frustration, stress and time into celebration and profits, as these clients have.
Good luck only happens to those that get in front of it.