Proposals: "The One That Got Away"

Crafting a proposal requires a careful amalgamation of time, effort, and emotional investment. You find yourself pouring over each word, searching for the element that might set you apart or identifying a critical missing component. For a business owner, where every minute is a precious commodity, an unsuccessful proposal hits like a punch to the gut. Sometimes it even feels personal.

Here are a few of my thoughts on navigating proposals:

It’s Not Personal, It’s Business

Understanding that a declined proposal isn't a rejection of you or your team's capabilities is crucial. Business decisions are multifaceted and often hinge on a myriad of factors - budget constraints, internal politics, pre-existing relationships, or even something as simple as the mood of the decision-maker on a given day. Remember, a "no" now might pave the way for a "yes" later.

Investment of Time Capital for Small Businesses

Time is an invaluable currency for small businesses. The hours spent researching, drafting, revising, and perfecting a proposal represent a significant investment. This makes the sting of an unsuccessful bid even sharper. The, "time capital," spent should be viewed as an investment in refining your process, understanding your market better, and building a repository of content that can be repurposed in future proposals.

It’s Only a Total Loss if You Don’t Learn Anything

Every proposal, whether successful or not, provides an invaluable learning opportunity. I recently compared a proposal from last year (which was awarded) against the most recent one (which was declined) and I'm much more proud of the latter. The formatting is tight, messaging clear and the cost defendable. It's a much better reflection on our team's capabilities. Seek feedback from the client. Understand where your proposal fell short or what resonated well. This feedback loop will ensure that with every proposal, you get better, sharper, and more aligned with your client's needs. For me, this is the most difficult part. Remember to check your personal biases and accept criticism with grace.

Celebrate the Process, Not Just the Outcome

The process of proposal writing refines your business approach, hones your team's collaborative skills, and deepens your understanding of the market. Celebrate these achievements. Recognizing the hard work and dedication your team puts into every proposal will boost morale and ensure that enthusiasm doesn't wane.

Final Thoughts

One thing I've learned from diving into the RFP and proposal arena, is that you win some and lose some, but each experience is invaluable. As a business owner, every declined proposal feels like a missed opportunity. Over time, I've realized each "no" has shaped my next approach, refined business strategies, and made me more resilient. Continuing after a rejection is a testament to our dedication and an affirmation that we're putting ourselves out there, competing and striving. Each "no" is a lesson. I have to remember it's these very lessons that set the stage for our next "yes."