Bidding for opportunities is an expensive and often unrewarding process. Low success rates coupled with the cost of bidding bring challenges to growth and profit margins.
In order to make the best out of any bid opportunity it is important to have an early robust appraisal that provides an informed decision as to the validity in bidding.
Regardless of the outcome of this appraisal it is vitally important to recognise the following in order to maximize the chance of winning:
Market Intelligence - if the first thing you know about the opportunity is when the tender is issued you are most likely to be too late. Early positioning is critical to winning bids. As early as possible try and understand and influence the client’s underlying business needs.
Relationships - good relationships with potential clients are vital, as they could be the key to winning the bid, understand the client, research their business, inform your approach.
Service Solution & Value - make sure the proposal includes a Management Summary, Case Studies and addresses the client’s needs and doesn’t just cover your organization. Creativity & Innovation - it is critical to be different. Apply creativity and innovation to the bid, the solution, proposal and presentation. Whilst complying, also consider supplementing with an alternative non-compliant innovative solution.
Planning & Process – success requires structured planning and processes. Applying the same degree of planning and process will save time and money, and create a better working environment.
Finally......Review & Learn - regardless of the result, establish what was done well and what could have done better. Communicate and record the findings and use them to improve to future opportunities, applying the lessons learnt to drive continual improvement..