10 Things To Keep In Mind If You’re New To Tendering

Author : Eada hudes
Publish Date : 2021-09-24 17:46:28
10 Things To Keep In Mind If You’re New To Tendering

Government tenders offer an excellent opportunity to sell your goods and services to the public sector. Whether you are a small or medium business, open tenders level the playing field as the government is obliged to test the market for suppliers offering the best value. 

While the tendering process can vary from buyer to buyer, there are several common elements. Is this your first time competing for tenders? Take a look at some important things that require your attention.

  • Don’t Skip Tender Information Session

If the buyer is conducting any tender information sessions, make sure you attend them and ask questions. This is a great chance to get in touch with the agency and make useful business contacts. Attending such sessions will give you a better understanding of the buyer’s requirements, which is crucial for drafting a relevant tender response. In case you have registered through a tender website, remember to regularly check for any updates.

  • Plan Meticulously

The success of your bid heavily depends on the planning. Carefully go through the requirements to gather all the information and resources you need to put together a convincing bid. You should also take this opportunity to identify your competition to determine your chances of winning.

  • Know Your Buyer

Many bidders make the mistake of putting the limelight on their capabilities. That’s not the right approach. Instead, your focus should be on addressing the buyer’s needs. Set aside time to research the buyer. This can help you discover the type of bids that have won in the past and accordingly enhance your tender response.  

  • Get Clarification

Are you confused by any tender guidelines or policies? Rather than making assumptions and risking misunderstanding the requirements, it would be better to ask tender coordinators for clarification. Submitting a bid that doesn’t follow the guidelines is a waste of everyone’s time.

  • Review Previously Successful Bids

The tendering process can be overwhelming if you have never competed before. If you need some inspiration, take a look at previously successful bids. This will give you an idea of what is expected out of your tender response. 

  • Draft a Persuasive Response

This is perhaps the most important part of the tender process. You must write the tender response according to the buyer’s specifications. This includes answering all the questions, following a tender format or template, adhering to the word limit, and so on. If writing is not your forte, you should consider involving a professional tender writer.

  • Make a Checklist

Mistakes in your tender response will impact its credibility. That’s why you should take your time to thoroughly review the response before submitting it. From following the evaluation criterion to maintaining a clear structure, make sure your response checks all the boxes. 

  • Find Referees

You need to find referees that will back up your capabilities. You should discuss the key points referees should highlight in their reference. 

  • Prepare for Presentation

If you are competing for a high-value contact, you may be expected to formally present your bid in front of a panel. Rather than giving a presentation off the top of your head, prepare and practice. If you are not good at public speaking, let someone else on your team take care of it.

  • Ask for Feedback

Was your bid rejected? Instead of getting discouraged, make an effort to learn from unsuccessful bids. Always request a debriefing after the process. Asking the evaluation panel for feedback can help you understand what went wrong and use this information to improve your future tenders. 

Tenders offer your business valuable opportunities to procure new contracts. Therefore, it’s imperative that you put the time and effort into presenting a compelling bid to buyers. 

Category : business

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