- Do you lose tenders most of the time?
- Do you want to know how to win a tender?
In this, a tender is published in public domain like newspaper, tendering portal, in which anybody can come and participate.The biggest benefit of Open Tendering can be summarized as;’????? ?????? Choice, ?? ???? Negotiate ?? ???? ???’Advantages of open tendering:? Wide variety of applications? More choice and more chances of negotiating? No favoritism? Newcomers can also participateDisadvantages of open tendering:? Long Complicated Process? Time-consuming? Money consumingNegotiated/Selective Tendering
In this, only a few selective vendors are invited for negotiation who are experienced and industry experts.Advantages of negotiated/selective tendering:? Less time consuming? Less money and energy spent? Industry expertsDisadvantages of negotiated/selective tendering:? No opportunity for new entrants? High Favoritism? Less negotiation power
10 Tips to Win a TenderTip #1: NICE Analysis
It is one of the tips to win a tender.Before filling a tender, you need to analyze your strength and expertise that whether you are able to satisfy the Need, Interest, Concern, and Expectation (NICE) of a contractor.If you are unable to satisfy the need of contractor then it’s better to don’t fill the tender.?
Tip #2: Verify the Information
To know how to win a tender, after filling the tender form, cross-check it several times with others to ensure that there is no wrong information, which may lead to your disqualification.Make sure that it is written in clear language and writing, along with required documents. Send the tender through the proper channel in which it was invited.That is, you must adopt the below-given process;’Check ’ Re-check ’ Double Check ’ Cross Check’Tip #3: Client-Focused Compelling Story
While preparing your proposal, you must know how to win a tender that doesn’t miss leave even a single chance for your competitors. You have to try to include compelling exciting stories of your clients. Portray how you changed the business of your clients through your efforts to get a humanistic advantage over others.Don’t just tell how good you are. Tell them nerve touching stories of your clients to strike the right chord of people.Tip #4: Relationship Can Amplify Your Possibility of Success
No matter what business you are doing, a good relationship always helps in knowing more about your client.This creates a better understanding and helps in getting tender.A good relationship creates trust and makes decision making fast.It is also one of the tips to win a tender.Tip #5: Secure Your Gross Margin
Sometimes in the quest of getting a tender, you adopt under-cutting and end up making a very low priced bid.This creates problems in delivery and you adopt unethical practices that hurt your margin adversely. It is also one of the tips to win a tender.Tip #6: Don’t Be Afraid to Ask
To know how to win a tender, you need to understand the tender process effectively.If you are unable to understand the tender process properly don’t hesitate to ask questions from company representatives.Make calls or send emails given on tender information to make everything clear before filling a tender that will help you get better results.Tip #7: Collaborating for a Stronger Big
When you realize that you do not have the required expertise for a particular tender, then instead of losing the tender, you can hire a super-specialist as a sub-contractor.Though it will reduce your profit share, but something is always better than nothing.
Tip #8: Excellent PresentationComplicated information always reduces your chances of getting a tender. Therefore,
- Make your presentation as simple and attractive as you can.
- Use excellent graphical representation
- Use sequencing and coherent theme
- Use the simple and clear congruent message
- Use to convey a single signal, not mixed-signal
While making your tender proposal, try to understand the money-making model of your customer, that how can you add a distinct value proposition in his business.Mention how you are going to multiply their business as it helps you grab your customer’s attention.What will make you ’Standout’, Will also make you ’Outstanding’.Tip #10: Don’t’ Lose Faith
At last, even if you don’t get a tender after putting a lot of effort, don’t sit back, only step back, to bounce back.
- Even if you fail, don’t worry and start preparing for the next bid with your team.
- Try to get feedback from a lost tender and make it feedforward.