It’s tempting to respond to every request for tender. Especially toward the beginning of your business, you may feel that you should try to get work everywhere. After all, you never know which tenders will result in contracts and which won’t.
However, this approach isn’t always a good use of resources. Your firm is more qualified for some projects than for others, and when you use precious time and resources responding to tenders you’re underqualified for, you miss out on other opportunities.
When an organisation tenders, it issues a request document. This document explains the organisation’s needs and any selection criteria it deems important. Instead of viewing every request document as an invitation, look at them as helpful guides. The criteria contained in a request for tender will help you to know whether or not the tender is worth your time.
In deciding whether or not to respond to the request for tender, consider the following questions:
These questions can help you to decide if you should respond to the request. If you have problems with several of these areas, think twice before investing time into formulating a tender response.
In addition to evaluating your own qualifications, you’ll also want to research the buyer. Detailed information about the buyer can be very enlightening and help you to determine whether the tender is worth your time.
If the buyer holds any briefing sessions, try to attend them. You may be able to talk with the person in charge of tenders, and if you have any questions, you can get answers before you make a final decision about whether to submit your tender.
Careful research of the buyer can also be helpful in the event you proceed with the tender. For example, if you learn that they’re particularly time-sensitive, you can adjust your schedule accordingly.
Being selective with your applications can save you a lot of time and money. Not every tender request is a good match for your business. By spending your resources on the tenders that are the best fits, you become more efficient and competitive.
For more tender tips to improve your responses, visit our Building a Better Trade Business eCourse today:
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