To Bid or Not to Bid...?

Qualifying, preparing and submitting tenders can help secure large long-term contracts, but also are very time consuming and can cost a company heavily in terms of money and resources. So, it is imperative that you take the time to analyse whether or not a tender is worth bidding for, and to qualify each potential bid.

Contrary to popular belief, winning a tender is NOT a numbers game. BE SELECTIVE.

Key points to Consider when qualifying a bid;

Is your company big enough to deliver the contract? Is your turnover enough to bid for it and if so, can you provide accounts to support this?

Is this the right contract for your company? Are they your target client and do you fit their criteria as a supplier? Does the work fit in with your strategy?

Analyse the bid documents. Make sure you can match the technical, skill and experience requirements;

• Do you have the required policies, insurances, accreditation's, and certifications in place as dictated on the documents?
• Can you offer customer references that match the contract spec in terms of size, value and experience?
• Look at the scope of the project. Can you deliver on each point in the specification? (never over promise and under deliver)
• KPI Spec – is it realistic and achievable? What are the potential cost implications?
• Have you checked the T&C’s? Does anything stand out that is ominous?

What will the bid submission cost you to deliver in terms of time money and resources?

Do you have the resources available to submit the bid? Do you have the right team ready to action and deliver? (Gathering information / research / site visits /coordinate material / writing drafts / checking / submission)

Can you compete? Do you have good chance of winning if you do decide to make a submission / enter the bid process?

If you win can you deliver the specification? How will the work affect the fulfilment of your other contracts if you are awarded?

Will it be profitable if you are awarded the contract? Will you make enough money to justify the fulfilment if you are successful?

If you can’t actively tick all of the above points with total confidence, then my advice is this;

REJECT the bid in question and move on to the next one which could be a better fit for your company. There will be a tender out there that is perfect and that’s the bid that you want to throw everything into winning.   

Work hard (of course) but more importantly work smart.

If you need advice on any aspect of the tender bid process, just send me a message.  I am always happy to have a chat; [email protected]