Are you Bid ready

Developing your business and venturing into the world of tender writing is a fantastic way of kick-starting growth and ensuring longer term success. Much of the battle lies in securing that first contract and fulfilling it satisfactorily. This transforms how your business is viewed by potential buyers in future and does give you a competitive edge over companies with no contract experience. But gaining that first contract can be easier said than done when vying against other competitors with more experience in both writing tenders for contracts and fulfilling them.

One of the keys to success in successful tender writing is being bid ready before you start. Attempting to gain work through a scattergun approach to tendering without having solid foundations in place costs time and money that you are unlikely to recoup. So what basics should you consider in order to get your organisation ready to tender?

Professional Advice – Professional bid writers have seen it all. Never underestimate the value of that experience. Most professional bid writers can work with you to get you bid-ready quickly and efficiently, as well as providing invaluable guidance on the process itself. You can hire a professional bid writer on a consultancy basis, for training your team or to write your bid. They will look at all of your systems, documentation, accreditations and expertise and guide you through the process as much or as little as you require. Taking advice at the earliest stages should save you considerable sums over the long-term. It guarantees that mistakes are avoided and your organisation is fully equipped for successful tendering from the start.

Insurances – Holding relevant and adequate insurance in a must if you are to pass the PQQ stage. Whilst you can show that you will be insured correctly should you win the tender, purchasers feel more confident in dealing with businesses that already have these in place and it is good practice anyway, even if you struggle to justify the cost.

Finances – There is little you can do if you don’t meet the financial criteria of the PQQ and you could find yourself disqualified on this basis alone. Despite this, having full financial information ready and available for submission is essential. You will require three years of full accounts. If you cannot provide this then provide as much information as possible, including bank references, your own management accounts, projections etc.

Policies – Having the right policies in place shows that you take your obligations as an employer and business seriously. Many small businesses wonder why they have to invest in writing policies that they would rarely use or refer to but to a potential purchaser, your policies add structure to your business and reveal insights about your quality management systems, health and safety and responsibilities as an employer. Policies are about credibility and are a must in successfully tendering.

Being bid ready is also ensuring your mind is ready. Make sure you have set the time aside and are completely committed to submitting the best bid you possibly can. Do not underestimate the time required and expect to work some evenings and weekends.