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How do Companies Create Winning Bids Every Time?

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Baskar Sundaram

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            A winning bid is the result of following inbound concepts along with outbound strategies. It is necessary to identify the gaps and fill them by increasing internal capacity as well as by partnering with external service providers. Meeting the customers personally and interacting with them while giving away bits and pieces of information about the product will help you to enter the business with a greater impact. In addition to this, a proper utilisation of all the social media platforms will ensure that your presence is felt in the market.

Towards a Winning Bid

Winning a bid is important but this doesn’t mean that losing one is a failure. The first lesson to be learnt while working on a bid is that every loss is an experience. Be creative and come up with ideas and proposals that ascertain your strengths and weaknesses. Do the necessary homework and prepare well before jumping in. Comparing your strategies, strengths and weaknesses with those of the competitors is a way of acquiring a better understanding of the market and the customer. Balance your train of thoughts and think through both the positive and negative thoughts that cross your mind. It is better to write down the thoughts and ideas in a paper and then evaluate it.

The four things that need to be thoroughly evaluated are yourself, the customers, the competitors and the potentials risks involved in the process. Given below are some questions that you need to ask yourself in order to move forward with the bid;

  • How can I bid?
  • What is the content of my bid?
  • How can I fill the gaps?
  • Do I need a Bid Consultant?
  • What are my mistakes?

The Strategy to Win

The most common reason for the failure of bids is the lack of a proper plan or a strategy. Preparing and documenting a winning strategy is a basic step that should never be skipped while bidding. A strategy ensures the following practices;

  • Collecting the key documents.
  • Sticking to the core strengths
  • Knowing what Proactive Bidding means
  • Understanding the risks involved in the process
  • Understanding the customer and interacting with them personally
  • Being aware of the competitors as well as the partners

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