IYKEMAN Business tips!
Bidding for contracts is one of the most challenging adventure by most business owners especially the start ups. This is due to the fact that the systems seem to favour the long term players and so called industry owners and as such coming in just from no where seems a very doubting task to achieve.
However some start ups have been able to make in road and achieve tremendous results. Hence in this post, I will be taking you on the few basics you need to arm yourself while trying to compete in this unfamiliar environment. These tips cut across almost all niche and business models. So here are the few things you may need to know while trying to venture into the contract bidding terrain be it in form of government or private institutions and corporations.
- Research companies within your market area that may need or regularly offer the contract for the services you offer.
- Find contact(s) information for all the area such as building locations, the facility manger and all that. Example: contact the procurement manager for each of the companies you are qualified as potential contractor.
- Ask questions: Such questions as if they currently have or will have in future such contract services that you may bid for this way you prepare ahead of time your bidding proposals.
- Ask if they maintain a list of potential contractors that they would forward a request for a contract bid when the need to obtain services arises, this way you may also try to ensure your company is also includes.
- Request an information packet detailing the companies procurement process and Bid requirements.
- When bidding, ensure you tailor your business services to each company need for easier bid.
- Read thoroughly the request for Bid proposals or RFP that you receive from prospective businesses.
- Go through the RFP line by line to identify what work needs to be done and what time frame and within what limit and restrictions your company might have to work.
- Ask for a meeting with the procurement team after your have thoroughly reviewed the RFP.
- Finally begin your Bid submission with a summary of your companies qualification and why you should win the contract.
So you have it up. Just the last tip is trying your best to begin earnestly. Almost each time the early birds are usually the most successful bidders. So just take a walk and approach the bidding process with all seriously that it deserves.
If you have anything to add, just let me know in the comments section below. You may also share your experience in any bidding process you have won or currently engaged in.