Win More Bids
Putting together a winning bid proposal, or even a competitive one, takes knowledge and skill. It’s a bit more complicated than just putting some numbers together and hoping for the best.
Good bid preparation requires a lot of time and effort and involves everything from reading and fully understanding the plans and specifications to accurately estimating costs for labor, materials and equipment.
Making even the smallest mistake can mean the difference between submitting a winning bid and missing out on a coveted and profitable project. We’ve put together our top 10 tips for submitting better bids.
You don’t have to bid on every job you come across. Winning jobs your company can’t adequately perform can be just as costly as not winning them. Remember, it is never too late to abandon a bid you are working on. For example, let’s say you have purchased plans, attended the pre-bid meeting, done your takeoffs and started taking subcontractor pricing.
Once you start crunching the numbers you realize that your company won’t make a reasonable profit if you were to win the contract. The best thing to do is dump it and move on to the next project.
If at any time during your bid preparation you realize that your company cannot adequately handle the scope and requirements of the project, you need to make the smart business decision to walk away from the bid. Finding the right balance between bidding and winning enough jobs can be difficult.