5 Questions to ask before responding to an RFP/RFT
1. Did we know about this tender before it was issued?
The team at Bid Wizard are involved in over 200 tenders a year and we can say with certainty that if you are only hearing about this tender when it lands on your desk, or when it is published on a website, you won’t win and should stay well away from responding!
2. Do we know this client?
At Bid Wizard we have seen clients respond to Requests for Proposals (RFPs) and Requests for Tenders (RFTs) when they don’t know the prospect and haven’t even bothered to look at their website!
If, at minimum, you haven’t even looked at the prospect's website and latest annual report - don’t bother spending any time responding to the RFP/RFT!
3. Do we have the expertise?
In an economic climate like the one we have been going through post-COVID, ask anyone if they have experience in a particular area and they will tell you that they do. We just don’t want to say “no” to a great RFP/RFT opportunity.
At Bid Wizard we get this. But; the truth is if you don’t know the area of expertise being sought, don’t waste your time responding!
And, keep in mind that if you say you are an expert in an area and are not, then you are devaluing your credibility in the area(s) where you really are an expert!
4. Do we have a team/depth of experience?
A common fault in most tender responses is to detail the expertise and experience of a lead person only.
Aside from highlighting a potential flight/replacement risk should your lead expert leave you, it calls into question the need for the other members of the team in your submission.
So, in the unlikely event that your lead person is the only person who has the expertise and experience being sought, and no one else can be found who has the relevant experience, then you need to seriously question whether you should be responding to this tender at all.
Otherwise, you need to ensure that you include the experience of your more junior team members in the response (a tip here: if your lead person and junior team members have advised on a matter together, you might want to make sure the junior team members' includes assisting the lead person in their CV).
In any event, depth of experience is a critical component of any successful tender these days; so, within the parameters of the response, try to include this.
5. Can we price/cost this profitably?
Lastly: can we make money from this engagement? If not, why are we bothering to respond!
Lastly
If you are having any issues with the above, feel free to reach out to the team ay Bid Wizard. We’re more than happy to talk through how we can help you achieve your tender win goals!
