Written by: Wilbert Flores
We have been talking about the tendering process, and you might be thinking that it is hard and difficult to start with. Nevertheless, the key to a successful tender is to equip yourself with knowledge on how to keep up with the whole process.
Here is a guide on how you can win the tendering process:
Build your network
Building your own pool of network will keep you updated of the latest tenders you might be interested. Sure, you might keep yourself posted of the latest tenders but it is undeniable that you just might miss on one opportunity. A great pool of networks might just come in handy.
In addition, your great network can help you along the process. This is because a client not only looks into your company’s profile, achievements and proposal, but also listens on what your peers have to say. You might not realize it now, but a word from a fellow is strong enough to close that tender.
Create your own tender response strategy
Definitely, you cannot just start the tendering process without analyzing the tender request. The most important factor to consider is will you be capable of delivering the goods and services the client demands, without compromise. It is all about knowing your strengths and weaknesses in order to deliver well. In analyzing tender requests, you might want to consider asking yourself the following:
– What goods or services is the buyer seeking to purchase?
– What are the evaluation criteria?
– Is this tender a strategic fit for my business?
– What is my initial estimation cost?
– What is our potential profit from winning the tender?
– What resources do we require to bid and deliver a winning tender?
At the end of the day, the tendering process is all about what is beneficial to your client, and what is beneficial to your business in the long-term.
Conduct research and analyse the competition
It is also important to know more about your client. This is so you can run your presentation smoothly and avoid misunderstandings. As the process goes, you may find that your client does not adhere to government policies or even to your company’s vision. In addition, knowing your client will help you create a good proposal; so you will know what they really need and persuade them that you can provide just what they want.
Aside from knowing your potential buyer, it is also important to know your competitors. Doing a competitor’s scan is not easy, but it will surely help you especially in negotiating. Think of it as your key in flaunting your assets, and in telling what sets you apart from the rest of the bidders.
Maintain communication and raise your concerns
For government tenders, it is highly recommended to request for a debriefing especially if your proposal is unsuccessful. This is a great opportunity for you to generate ways in improving your next bid. Moreover, do not be afraid to raise your complaints and concerns regarding the process.
The tendering process can be tedious but it is always best to equip yourself with the right tools and sufficient knowledge and research.