A winning tender bid is not an easy task to achieve, but a challenge that when overcome, can generate great benefits. It is considered to be a boon for small business owners as it is a stepping-stone towards their aspirations and can level the playing field. Nobody is sure of the winning recipe to a tender but there are few things that you put you ahead when you plan to bid for a tender. By doing the following, you can better your chances of winning the tender.
Before you bid for a tender, you should have done your research on your company and your competitors, the basic thought process behind competing for the tender. Understanding these details form the basic foundation of a tender proposal. In addition you should read the RFP closely and understand what your potential client is seeking to achieve from the project, what they are seeking from you and their potential budget levels. This leaves a good impression on the tendering company and allows you to produce a winning bid.
As per the requirements of the tender, your bid should be a true picture of your business and nothing should be exaggerated. If you plan to increase your chances of winning, then it would be advisable to look within your own business and encapsulate the scope of improvements required from your internal areas. There is no point in acquiring the tender and then not being able to undertake the project at a profit, or worse still, not at all. As you bid for a tender, it gives you a chance to improve your business and reap the successes. In your bid be precise about what is and is not included and the geographical area that you are able to work within. Include details on the planning and approach of the project for which the tender is placed so that your innovativeness and creativity can speak for your workmanship and hopefully make you stand out from your competitors.
Many a times, we have seen small business manufacturers doing extremely well in smaller local markets but if through a tender you get a chance to expand then they hit problems. Careful planning means you should be able to develop your expertise on a bigger scale and the business will grow tremendously. Your business size can also be a factor, which can gauge whether or not you would win tenders. For example, big companies acquiring big contracts will eventually choose a big business owner to do the job whereas small businesses have immense tender opportunities with smaller projects and companies. There are companies looking for cost effective and small suppliers who can work closely with them and produce the desired results.
Despite all this, its essential to know that the company offering tenders would never give a contract to a business owner whom they are unaware of. So even though you are a small business owner, it is advisable to attach a simple, crisp and concise summary of your company with your tender bid. Furthermore, your previous credentials, accounts and references will be a value addition. Try everything to make your tender positively stand out from the crowd and your new project will soon follow.
© Copyright 2015 Biz Guru Ltd
Lee Lister writes as The Biz Guru, for a number of web sites where she provides assistance for the business entrepreneur. She is known as the Bid Manager and is a recognized bid management expert.
If you would like assistance in writing your tender or PQQ, visit: http://www.TenderWriting.com or read Proposal Writing For Smaller Businesses which can be found on Amazon.
This article may be freely distributed if this resource box stays attached.