Filter Your Opportunities – Government Contracts
June 16, 2022
Are you fed up with chasing after a federal government tender and tendering for a public market job only to obtain declined? If so you will certainly understand that even when estimating for little agreements valued under ₤ 50,000/$ 75,000 the time and effort included are really substantial. If you are bidding on a two-stage procedure with a Pre Certification Questionnaire (PQQ) as well as an Invite To Tender (ITT) which is standard across the EU for larger contracts, the procedure can be a lot more demanding.
Possibly you have actually gotten rejected after rejection, or you have a low success price so you are starting to obtain very disillusioned. If so I recommend you don’t give up right now due to the fact that if you have been bidding it is since that service is necessary to you. There are 3 primary reasons that you may not be prospering.
1. the top quality of your quotes is poor
2. you are bidding for calls that are not a good fit for your service
3. you have not worked on structure connections with the customer
The most convenient of these to fix is checking whether you are bidding for federal government agreements with a good fit to your business profile and also abilities. These are what I call your filter standards. I recommend that all prospective buyers develop filter standards to guarantee you only tender for possibilities that are actually winnable. This will certainly aid to stay clear of excessive waste of your and your team’s time and energy.
Right here are four pointers on exactly how to filter your opportunities:
1. Value of chance versus your yearly turnover
Is the agreement worth annually more than 25% of your annual turnover? If your response is yes that is a warning, or no-bid signal, due to the fact that for the most part you will be eliminated as a possible distributor by the financial risk evaluation. Look for possibilities where the agreement value is no more than 25 percent of your yearly turnover.
2. Proper record
Can you indicate a minimum of 2 as well as ideally three previous clients/projects over the past 3 years where you supplied a comparable solution of the exact same or a bigger scale, to that hurting? If you can not respond yes to this question then the fit is possibly unsatisfactory and also one more prospective buyer will greater than most likely pip you to the winning article. Search for opportunities where the requirement resembles jobs and agreements you are currently dealing with or have actually recently completed.
3. Degree of sub-contracting needed
Are you able to deliver a minimum of 80 percent of the customer’s needs in-house without needing to subcontract the job? If you can not address yes to this concern, depending upon the type of solution and market you remain in, this may be a no-quote signal. A high degree of below agreements is seen as a greater risk by the customer and also might indicate that you are not tendering to supply something within your core capacities. Try to find agreements where you can provide at least 80 percent of the demand.
4. Previous partnership with the buyer
Does the customer currently recognize your business as well as your service? If you are not exactly sure or the solution is no, although they can not use this as an option criterion, it does have a bearing on your possibilities of success. It might be that you do the tender anyhow and utilize that as a partnership-building chance. You require to have a relationship structure strategy in position if you seriously want to win public sector and also federal government tenders.
I have actually seen way too many smaller-sized organizations making use of scarce resources to chase government tenders that they actually have no chance of winning. If you don’t intend to be one of them put some filters in the area to ensure you target your efforts.
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