Bid managers should receive training in bid management to improve the success of the company they represent. Construction industries and other technical industries that engage in product development and procurement will require expertise in writing tenders for bids on projects. Every win by a company increases the company's revenue. It is essential to have adequate training to keep a constant stream of incoming revenue.
Similarities with Sales People
Bid management is similar to sales. Companies must sell products or profitability will decrease. Construction and technical companies must win bids to keep the business profitable. The proper training teaches vendors how to effectively write tenders and promote their services to companies submitting RFPs.
Those who win bids are effectively good sales people on paper. They know how to convince a company to choose their product or service over a competitor. They are aware of the issues and concerns of companies soliciting their products and services. They address every concern a company could have in a tender proposal and submit the document as the first stage of the process.
With the appropriate training, you can learn to refine your skills and learn to write effective proposals with charts, graphs, timelines and any other pertinent information necessary to convince companies to purchase a product or service. The training is necessary because most novices do not know what tender reviewers want.
For instance, most reviewers require that the applicant follow the instructions exactly. Vendors that venture from the instructions risk their bid not being reviewed at all. Many novices lose out for this reason alone. If it's never reviewed, it goes without saying the company will never have a chance to profit from it.
Pricing is also a major issue. Bid managers must anticipate what other competitors may offer and try to make their offer cost-effective while maintaining quality products or services. Writing a bid requires the ability to achieve a fine balance between price and quality. If this balance can be achieved, companies will win more. As they gain more experience, they will develop their own formula for success.
A Wise Investment
Courses in this area are affordable for most companies. If the principles are applied, the return on investment (ROI) is fairly fast. Companies should provide funding for the appropriate staff to attend bid management training to improve the chances of winning business. Most companies are pleased with the results of the training they receive in this area.
Courses teach about effective and competitive pricing strategies, milestones, timelines and product selection. You may also learn SMART objectives and other essential knowledge to make the process easier.
Consider Professional Training
Consider a course in this area to improve the company's profitability. Most people improve their strategy once they have received the appropriate training. Behind every successful construction company or technical company is a successful and accomplished bid manager. These people are necessary to ensure businesses maintain a steady stream of revenue and business opportunities. Train them well, and your company will become more profitable.
Writing tenders against deadlines is stressful and not always successful. The Bid Manager offers experienced tender writing consultancy and bid management training. Contact us at http://www.TenderWriting.com or http://www.BidTraining.com The book "FastTrack Bid Management" is available on these sites for those that wish to learn bid management for themselves.
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