Deciding how much profit margin to add to your price can be difficult, especially when you are in a competitive situation.
When writing a proposal or tender, you have the opportunity to justify the amount you charge by describing the value of your service.
Once you are confident that you have captured the value, you can increase the price accordingly.
Successful bid and tender writers display many of the same qualities as good project managers.
They plan their time and resources carefully whilst also balancing client and company pressures.
While not every bid will win the work, they can all be successful in terms of delivering a strong document in a cost effective and timely manner.
It may be tempting to start the New Year afresh however good practice involves learning from what has gone before.
A quick analysis of your previous year’s bids and proposals will probably provide some useful insights.
Having taken time to consider the findings, you should then decide how to focus your activities in the year ahead.
Traditional written responses are still essential in many areas of bidding however there are times when a more innovative approach will be welcomed.
You could give a dynamic team presentation, invite the client to evaluate you ‘at work’ or submit video footage as part of the tender.
Think about the client and their working environment, then decide what format(s) to use.
Good bid managers have many of the same traits as effective project managers.
They know how to set deadlines and adequately resource their project but they are also aware of other business demands.
While tendering does have a high strategic importance, it is sometimes necessary to juggle priorities and be flexible.
You will help the reader retain concentration if you use plenty of section headings and sub-headings in your document.
These titles can be used as little snippets of content to help the reader see what is coming next.
By encouraging them to keep reading and not just skimming, you are more likely to get your message across.
Your bid and tender documents should be designed to win and not just to be compliant otherwise the client’s selection will be made on price.
To structure a winning bid, you need to agree a win theme at the outset and then ensure all contributors weave it into their parts of the response.
A win theme is the compelling reason the client will award the work to you and not to your competitors.
It can be very tempting to produce standard proposal templates and give staff rigid guidance about what to insert in each section.
While this can help with consistency, it does tend to lead to very generic proposals.
It is better for staff to understand what needs to be written so they can produce tailored material, all-be-it within a standard structure.
Increasingly, clients are evaluating potential suppliers during a presentation interview, rather than just by their written submission.
To prepare for interview you should think about the areas which are likely to concern the client and decide how to address them.
This will ensure you are ready to answer any difficult questions and can have relevant evidence to hand.
Producing a bid or tender can be very stressful and it usually involves significant effort from those involved.
A good time to reflect on this is immediately after the document has been submitted.
This timing allows you to recognise the successes rather than wait for a final outcome, which may be influenced by factors which are out of your control.
It is not usual to add figure or table numbers to graphics which are included in proposals.
Your graphics should be introduced in the text and simply given a strong title which describes its key features and benefits.
Figure and table numbering is normal in technical reports, where they are also shown alongside the table of contents.
Bid and tender software can be very valuable when compiling large documents with multiple contributors.
Most packages allow you to build a library of reusable material and will automate the notifications going to reviewers.
However the quality of the response still relies on individuals thinking about what to include and tailoring it to individual clients.