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INSIGHTS BLOG

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Making Better Bid Proposals in 2017

January 24, 2017

Writing and responding to Request for Proposals is not always the most fun part of a business development job; however, it is often required to get more work for your business. We wanted to compile a couple of things that we like to do when creating bids to help you out.

 

1) Make an all inclusive template. This is essential to saving you time in the long run. Every bid is different; however, there is consistent sections in all of them. If you have pre-made content it helps you to save more and more time with every bid that you create.

 

2) Your Ratesheet or Rate schedule is one of the most important features of any bid. This seems like a no brainer; however, if you miss a rate, or if your ratesheet is formatted in a non-professional way (aka in email tables) then you will be losing to the competition. Make a professional ratesheet and make sure that everything is included.

 

3) Ask questions and use the question period. This will not only introduce your company as a bidder to the purchasing agent, but also allow you to ask any question that you have, to make sure that you do not miss anything in your proposal.

 

4) Your Project Plan. It is usually a good idea to stipulate your project execution plan on any bid, even if it is not required. This is a chance to show off how you will take care of the project and exemplify your company skill-sets and credentials. If you have asked the right questions and understand the project this should not take too much time to make for each bid.

 

5) Finish your bid early. Even though we all do it, it is not a good idea to procrastinate with bids. Leave enough time to get a second opinion or review on the bid, this way you can add or rectify any issues that are found and not scramble to rewrite and send out the bid with minutes to spare.

 

 

 

Magnolias works with our clients on Business Development and Sales activities from both training and services standpoints. If you are having trouble, we will help to develop company proposals in response to Requests for Proposal (RFP) / Request for Quotes (RFQ). Let us know if you require any help or pointers, we are always very happy to share insight.

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