22 May A Guide to Bid Auditing
There are always answers. We just have to be smart enough to ask the right questions.
In this Guide to Bid Auditing, we reveal 15 questions we should ask of ourselves. Your answers will determine the bid outcomes that you will experience.
Preparing for a successful bid or tender is a very significant undertaking, and it comes with potentially lucrative rewards. This blog is all about questions. Questions you will need to ask yourself – ideally before you create a strategy – and definitely before you consider bidding for a tender.
We highly recommend you conduct a bid ready audit on your business. By auditing your business with these key questions, you’ll make sure that you have everything in place to give you the best possible chance of winning tenders.
This list will also help to identify which areas you are performing well on, which you are yet to address, and which ones need improvement or require further understanding.
This Bid Audit should galvanise you to build a bid strategy that delivers results, utilises your time and resources effectively and will win contracts which not only grow your business but improve it along the way.
- Do we have an effective Bid Strategy that is routinely used in the business?
- Do we know where to look and how to find relevant Tender Opportunities?
- Have we the resources and time to bid for work?
- Do we have a clear criterion against which we look for and choose Tenders?
- Can we make informed bid-no-bid decisions quickly and effectively?
- Do we have a comprehensive and up to date Bid Library of information?
- Do we have defined roles and responsibilities in our organisation for Tenders?
- Do we have a thought-out process for each Bid we work on?
- Do we know how to price our Bids competitively?
- Do we have the skills and resources to write excellent Bid Responses?
- Do we always allow for time to Review the entire Bid before Submission?
- Do we know how to conduct an effective Bid Review?
- Do we always follow up on opportunities and ask for feedback on our submission?
- Are systems in place to measure feedback and make improvements on our approach?
- Do we consider our Win Rate to be high and do we know how to measure it?
You may be thinking there are way more questions than answers. That’s not always a bad thing. But you need to get satisfactory outcomes from all these questions before you embark on a sustainable, successful Bid strategy.
Answers to these questions and more are available in our library of free resources on our website under our Blogs
Or you could chat to us without obligation for advice. Give us a call on 01908 382414. Or reach out to us at [email protected]