RFPs 101
Lesson 1: What is an RFP?
RFP is the acronym for Request for Proposal. You might also see the acronyms RFI, RFQ, or RFB. The “I” stands for Information and is frequently a predecessor to an RFP. The “Q” stands for quote and the “B” stands for bid. Some organizations use the acronym ITB, or Invitation to Bid.
Lesson 2: What are RFPs for?
Requests for Proposals (RFPs) are a method of engaging multiple suppliers in a competitive bidding process to purchase products or services.
Lesson 3: Finding Public Sector RFPs to grow your business
Because of transparency and non-collusion regulations, organizations in the public sector generally post opportunities online.
Lesson 4: Connecting to Serve
Most Corporate Sector work comes from marketing, networking, and building relationships. Generally, companies will invite a select group of companies, typically those with which they’ve already worked.
Lesson 5: How to Read an RFP
RFPs can be long, uninteresting, and less than user-friendly documents. It is so easy just to skim the RFP, only looking at the deadline and RFP title and falling into a state of complete overwhelm.
Lesson 6: Bid or No Bid? Part 1 – Either Way, Confidence is Key
At any given time, there are thousands of both public and private sector RFPs available for your business to pursue. But how do you choose the best opportunity out of so many good opportunities?
Lesson 6: Bid or No Bid? Part 2 – The First Step is Always the Hardest
You can achieve confidence and confirm alignment surrounding a bid/no-bid decision by asking yourself why you’re responding to the RFP and whether you have the time and resources needed to respond.