Whether you run a construction company wanting to get into the next Dubai Frame, or hope to become a preferred supplier to Al Tawam Hospital, you’ll have to create a tender with the clout to beat your competitors.
But before you begin what is a lengthy and costly exercise, the very first thing you should be asking yourself and your bid team is:
Is it worth it?
Going through a bid process can be expensive. Depending on how big the project, you have to budget for the actual creation on your tender. You may have to divert talented individuals from their day-to-day tasks to work on it. Experts may be brought in to help write, create graphics or make a video for the bid. Prototypes could be needed.
At every single stage in the process you and your team have to ask yourself if the bid is still valid. A brilliantly written bid or tender is one part of the equation here. You may discover through researching the tender that your company can’t completely fulfil the criteria: there are certain legal constraints that will cripple you how effective you can be, or you may come to the conclusion you simply don’t have the manpower needed to provide the service or products.
Far better to pull out when you see a major hurdle that can’t be overcome, than to blindly continue, swallowing your entire marketing and sale budget as you go.
Once you’ve decided that you are ready to push on with creating a tender, here’s some simple tips to help you on your way to successfully winning the contract.
It’s not about you
A big mistake made by many companies is to spend too much time in the document talking about themselves. But just like a salesman who doesn’t let the customer get a word in, a tender that doesn’t talk about how your company is going to help solve the customer’s problem, is a huge waste of everyone’s time.
How, why, what, where, when, who
Every writer follows these simple words to create a more compelling story. And a tender is exactly that: a story. You are telling the customer a tale about how your business is going to help their business be more successful in their enterprise. Tell them how you’ll do it, why your company is better, what you will do, where you’ll do it, when (timescales are very important as they show you have considered how their project will fit into your business), and who (are you going to build a new engine with the world’s top engineer? Then shout about it).
If you are a small company bidding for a big contract, you can’t fudge the figures to look bigger. Not only will the government, big corporation, or institution find out, they’ll never accept a tender from you in the future. Better to be honest and highlight the benefits you bring as a smaller company.
Know your competition
Whether you know exactly who else is bidding or not, you should be aware of the general competition in your industry. Consider their strengths and weaknesses. You don’t reference them directly in your document, but you can show how your abilities outstrip others in your field.
Cost it properly
Don’t be fooled into thinking that the cheapest bid will win the work. They’ll be suspicious and wonder how you are going to deliver on such low margins. If you do win, you may well find you put yourself out of business fulfilling a contract that brings you no profit at best, and consumes all your capital at worst.
By costing it properly you will be showing you know the worth of your business expertise.
Successful tender writing can be daunting for the first timer. Here at ISM Dubai our expert instructors can train your team in the art of writing tenders and business proposals. Click on this link to find out more: http://www.ismdubai.com/courses/writing-business-proposals/index.php