Lesson 6: Bid or No Bid
Part 3: Let’s Get Technical
Okay, so the bid aligns with your business goals, mission and core capabilities, and you’re confident you have the resources needed. What’s next?
Evaluating the bid’s unique client, solution, and risk is just as important. Ask yourself…
… about the client
You are more likely to win a bid if you have an existing relationship with the client. In fact, that existing relationship may be the reason you received the RFP in the first place. If you do not have an existing relationship with the client, find a way to build one. Reach out to your own network to find a mutual connection or reach out to the decision-maker directly.
Relationship management is a critical part of any business development lifecycle, and you must consider the impact of your bid decisions on these relationships.
… about the solution
A thorough understanding of the client’s explicit (stated) and implicit (implied) needs is essential to a winning proposal. The right solution is one that addresses each of the client’s concerns, focuses on client satisfaction and provides added value.
Don’t merely explain the features of your solution; demonstrate how your solution will positively impact their business. Leave no doubt as to your commitment to exceeding their expectations and identify what differentiates you from the competition.
… about the risk
Deadlines, billable hours, additional responsibilities, and overtime can cause strain on the company and its team members. Assessing the risk of winning or losing an RFP is paramount to success.
Consider whether the time needed to respond to an RFP might jeopardize other endeavors. And always review RFP terms and conditions in order to evaluate the acceptable level of risk for your company.
As with any task, creating a thorough, repeatable process for making a bid or no-bid decision will make life easier.