With research showing many firms are concerned about the current business climate, government contracts can provide stability in an uncertain future. Make sure you avoid common tendering pitfalls with expert advice from TenderScout.
When you do tender, don’t repeat any of these common sins:
Sounding stale and stodgy
Tender applicants who fail to get their unique personality across are setting themselves up for failure. To stand out from your competitors, show your creative side and make yourself memorable.
Blind to your market
At any one time, more than 45,000 tenders can be open for application, which can make it hard to focus. Make sure a tender is right for you before you invest precious time, energy and resources.
Scrimping on your research
If you fail to scrutinise an opportunity properly, you’re on a losing trajectory. Always thoroughly research the buyer, opportunity and competitor information and figure out your chances of winning.
Not building a bid template
Devising a standard bid template will help SMEs avoid needless duplication in the long run. Qualified experts can support you through the journey, pushing up your win rate in the process.
Being stubborn to change
The world of tender applications never stands still, so SMEs must follow the latest industry recommendations and update their methods. Schedule bi-yearly audits of your bid templates to ensure they properly reflect your changing business.
Not making a margin
An invitation to tender is a quotation, not an estimate – you need to carefully crunch the numbers and know your margin. Failure to make this clear might not only cost you the tender, it could have even worse implications down the line.
Using the wrong language
Tender applications need to feature professional and precise, yet lively and engaging, language to be effective. Be greedy about finding the right words and the right tone, so you tell the right story about your business.
With TenderScout, you can not only get expert advice from those in the know, you can get matched with the procurement offers that best suit your business.
You can also gain access to an unparalleled knowledge centre and machine learning tools that will simplify the over complicated tendering process and truly ‘change the way you win’.