Lots of business owners have to bid for contracts to ensure they can secure work for the future. That tends to happen mostly in the trades industries, but other entrepreneurs might have to deal with this process too. Your goal is to make your offer the most appealing one on the table. That usually means beating the competition in many different areas to ensure you make the selection. As this could mean the difference between your company making a fortune or disappearing into obscurity this year, it’s sensible to read some of the advice below before you begin placing bids. Hopefully, it will assist you in covering all the bases.
Know the opportunity inside out
There is no point randomly bidding on contracts that are not suitable for yourself or your organization. With that in mind, it is vital that you take the time to research each opportunity in-depth before you push ahead and make investments. You need to know the deal inside out if you want to identify the best way to approach the company concerned. There is no harm in calling the firm or visiting their offices and asking to speak to someone if you require some clarification. When all’s said and done, that should show the business managers how dedicated you are to winning their contract. It will also show them you are not afraid of hard work or going to extra mile to achieve your goals.
Tell your backstory
Be sure not to overlook your experience and backstory when it comes to placing bids and attempting to win contracts. You might discover you run the most experienced company in the country for the job at hand, and that will help to tip the scales of balance in your favor. Try to personalize your story so that people can connect with it. Omit any facts that might work against you, and highlight the ones that are going to make you seem perfect for the job. If you don’t have any decent writers in-house, employ someone new or use a freelancer. While the contract you want to win is purely a business deal, that doesn’t mean you can’t promote your personality and let the company know a little more about your human side.
Use technology to your advantage
Technology can increase the chances of placing a winning bid on your next contract. For instance, you can use spreadsheets and other tools to create charts and visuals that help to explain your points during a pitch. It’s also possible to take some of the hard work out of the bidding process by adopting the use of a pricing software system. Don’t forget that most of your competitors will have an online presence. You may be able to gain the upper-hand by researching those firms and working out the likely level of their bids. You can then undercut them and ensure your brand offers the most attractive deal.
Present yourself in the best light
Sometimes you will place bids online and never meet the people you’re dealing with face to face. However, there are instances in which you might have to make presentations and pitches in person. If you encounter a situation like that, it’s vital you do everything possible to present yourself in the best light. Be sure to show up professional dressed. That advice might sound silly, but humans tend to create their first impression of someone within around five seconds. If you make the wrong first impression, it’s often difficult to turn things around.
Securing contracts does not happen overnight. For many entrepreneurs, it takes years of planning, negotiating training, and practice. Begin by scouring your industry for the best opportunities to consider. Never expect to succeed every time, however, you should always give yourself a fighting chance against the competition.
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