How to know if it's the right tender?

How to know if it's the right tender? Seven questions to ask first.

You’ve decided to enter into the tender business. But are you prepared for it? And how do you select the bids that are best for you?

If you are thinking of these questions, keep reading to find out the answers to them

Question 1: Is it relevant to your experience?

Usually, in every submission the buyer will examine, they will most likely want to see examples of relevant work experience from the past. This shows the buyer, how you will be most suitable for the tender work. Even if you don’t have the experience, you must have substantial evidence in your proposal that you are fit for the job.

Question 2: Do you meet the financial and technical requirements?

These are to ensure that you and your team have the capability to fulfil the tender work. As a common rule, you shouldn’t ideally bid for a contract that is more than 50% of your yearly turnover in value. Similarly, if you lack in certain technical aspects, you can easily form a joint venture/consortium to ensure you meet the requirements. Given a large database of suppliers across categories, Tender 247 can assist you in finding the right partner in just a few hours.?

Question 3: Do you need to subcontract?

Subcontracting is helpful mostly when there is another expert entity who can help you with what your organization needs. If you feel the need, you can easily find sub-contracting and joint venture opportunities with Tender 247.

Question 4: What is your USP?

Unique selling point (USP) is essential to differentiate your bid from the others. Offering a service your competitors aren’t can place you a step ahead. For this purpose, analysing your competition’s bid is important. Competitive analysis reports by Tender 247 can help you achieve that edge.

Question 5: Can you actually deliver the work?

Making sure that your team has the right experience, education and accreditations so that the buyer can have the confidence in your team in trusting your organization with the tender work. It adds up to the credibility and increases your chances of having the bid in your favour.

Question 6: Do you have the time to tender?

Selecting the tender and submitting the proposal may sound like a two-step easy process, but it isn’t. It’s always better to take the help of experts who can manage the bid and tender submission process on your behalf. It improves accuracy and reduces the chances of delays. Tender 247 can offer you an end-to-end bid management solution.

Question 7: Would you choose yourself for the job?

An important question. Would you choose yourself over your other competitors for the tender? If the answer is yes, you’re in the right place. If you lack in some aspects, it’s time for analysis and relook at your bid proposal. To help you decide better and improve your stakes, Tender 247 supports you with exclusive competition analysis reports to fill in the gaps.

We at Tender 247 are an experienced team in tendering with a high success rate. Whether you’re new to tendering or have been in the industry for long, we have a solution for you.

Get in touch to open up opportunities.?