Description of the bidding process

Type of tender

There are basically two main types of bids, which can be divided into the following categories:

• Public sector tenders-these are usually highly standardized and include the selection process and tender invitations. Your company will even need to make a shortlist before submitting a bid, which may include completing many template response documents.

• Private tendering-in contrast, private tendering is not subject to the same degree of restrictions. Looking forward to a more flexible bidding process and a space to showcase business talent and personality.

Although private companies still have an obligation to treat bidders fairly, they can use any evaluation criteria that suits their requirements.

How to find bids for your business

Through private sector contracts, your business will usually be invited to participate in the bidding process, or you may get business opportunities through business clubs and networks. These can usually be considered in the same way as sales opportunities. Or, you can contact a commercial company to bid for the industry of your choice.

Local authorities have portals where you can register to be invited to bid on smaller contracts. Some public sector organizations have a Preferred Supplier List (PSL), and you need to be on this list to be invited to bid.

Decide to apply for bid

Putting bids together can take up a lot of your time and resources. Therefore, it is very important that you only bid for the business that you can provide that matches your existing customer profile.

It is easy to speculate on winning contracts over a million pounds, but if your average arrangement is only about 5 to the low 6 digits, then you need to question whether your operation has enough equipment to meet the tender terms. Evaluate your suitability and potential for success by considering the following factors:

• Regulatory and mandatory requirements

• Demonstrate appropriate experience in related industries

• Sufficient resources for operations staff and cash flow

• Potential profits and risks of the arrangement

In short, only for bids where you have a real chance of winning and you are sure that you complete with 100% customer satisfaction.

Your bid writing team

Before you start writing a bid, you should form a team that can express your commercial offer in a concise, accurate and attractive way. Choosing the right people with a wide range of skills may increase your chances of success because they will ensure that all appropriate areas are covered. Your team should have the following skills:

• Bid Manager-This person is responsible for overseeing the preparation of bids. Their task is to make all key decisions and meet the timetable required to advance the project.

• Copywriter-This person presents data, processes, and technical details in a structured and precise manner to meet the requirements of the bidding process, and lists relevant details and supporting information when necessary.

• Contributors-these will be team members or managers of the relevant departments of the company, who need to provide comments on the bid. They provide facts and data about operations and capabilities, which are then collated by the author to support the bidding.

• Proofreading-Finally, when the bid is completed, another person should be responsible for ensuring that the work is grammatically consistent and free of typos and errors. Authors are not suitable for this task because they are too close to the work to find all errors accurately.

Write bid

After you have found the right tender for your business and formed a team, the next requirement is to write the tender. You must clearly state why your company is best for this job, which is very important. Consider the following factors:

• Relevance-Use case studies and verified data from your successfully completed projects to show that you have experience in the appropriate field. The more consistent the previous experience is with the current project, the greater the probability of success.

• Engagement-When writing a bid, put the buyer in your mind. What specific information do they want to know? How do you concisely understand their unique dilemmas and challenges, and propose your company's specific functions as solutions?

• Simple-make sure your bid is written in simple language. Communication is the primary goal, avoid sounding too formal or using industry jargon to make prose too much. Always choose easy-to-understand and use precise and clear development formats throughout the process.

• Completeness-carefully check all facts and data, and verify whether the data provided meets the requirements of the purchaser. View all dates and certifications, and if you need additional clarification or add more support information, please use the added value section.

Writing a successful bid is difficult. Remember that even the most powerful company can only convert about 33% of bids into successful contracts. Of course, you must simplify the process with accurate feedback. If you win the bid, what aspects of your company have left a deep impression on your customers? Or, if you lose, it is not uncommon to seek feedback to further improve your offer in the future.

Finally, let us turn to the British business giant Richard Branson, who said: "Business opportunities are like buses. They always appear around the corner."

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