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Seven ways to get organized and write your bids faster
TenderingClaris Zimbiti | Aug 11, 2021 | | | |
Table of Contents
- 1. Build a library of commonly requested information
- 2. Harvest knowledge from your previous responses
- 3. Build and populate a standard resume for your key personnel/ Experts
- 4. Build Standard Templates and Checklists
- 5. Create a network of partners for joint ventures
- 6. Build a standard repeatable process for responding to bids
- 7. Set time annually or biannually to update your information
- 8. Conclusion
Writing a winning bid can sometimes seem like a huge task. There is so much work to do. Time is very limited. Deadlines are tight.
You feel overwhelmed. You feel like you are stuck in the whole bid writing process. You are not able to move forward and get up to speed like you are supposed to do.
To help you deal with this problem, you have to find ways of working smarter and get more organized for you to win more opportunities.
That way you are able to bring harmony in your organization through smooth collaboration among your team members. You will also be able to write your bids faster and quicker.
And the following are 7 ways you can start applying in your business to get more organized and respond to bids faster.
1. Build a library of commonly requested information
A database of commonly requested information is a great way to get organized. This database is normally referred to as a bid library.
You need to build your bid library and make sure that it is easy to access. This will save you time by not having to search for documentation every time someone requests it.
As a result, you and your team will be able to keep track of the required documents. On top of that, you will be able to find the required information quickly.
To give some examples, bid library information includes information such as trade references, previous experience, organizational charts, case studies, testimonials, financial statements and so on.
So how do you do it? The first step is to organize the information into groups and then categorize it.
The next step could be as simple as creating a new folder for each category and putting the documents in there. Sometimes, it could be something more complex such as a searchable database that people can log into. Make sure to keep these in clearly named folders on Google Drive or any other cloud of your choice.
Once you have done that, the last step is to share the database with your team in an organized and accessible manner.
The big idea here is to be able to easily find what you are looking for without wasting much time. And on top of that, the documents should be easy to access.
2. Harvest knowledge from your previous responses
Tender information requirements are often phrased in a specific way and they are often repeated in different tenders. This is the case especially in Pre-qualifications and Invitations to Bid (ITBs).
Take some time to review prior submissions and create a database of some model answers.
By taking the time to review your previous responses, you can harvest and reuse that knowledge in your future projects. In fact, you do not just save time. But you also avoid starting from scratch and researching every time.
The more time you take to create some model answers, the less time it will take in future. This means you will have more time to focus on the areas that need revision or further exploration as well as more time to concentrate on pricing information.
The best way to use this database is to make sure that you do not just copy and paste the information. Doing so would diminish its importance and purpose. Instead, you should customize the information in response to the needs of that particular opportunity.
This way, you will be able to focus on your customer’s business needs whilst at the same time saving you time and mental energy for creativity during the preparation of your bid .
3. Build and populate a standard resume for your key personnel/ Experts
It's a good idea to create a consistent model for listing qualifications, education and experience of your key personnel. In this way you can make the resume more systematic .
You should identify what type of solutions your customers seek and match the skills to the solutions that they seek. In other words, there is no resume which can fit all the different opportunities.
When it comes to updating your resume and cvs, you need to do it every time a new project is completed.
3. Build Standard Templates and Checklists
Standard Templates are a useful tool for a variety of purposes. They help create a sense of uniformity and consistency throughout the company's branding.
If you have a team, standard templates help to make sure that each person is using the same template so there’s no confusion about which documents to use.
Standard Templates make it easy to find what you're looking for. And they also ensure that new employees have a reference.
Another simple, but powerful tool is a checklist. Checklists are important for bid management as they set expectations and make sure that all the necessary steps are taken.
Checklists are a great tool for task management. They help to avoid mistakes. They are used to make sure that you don't forget anything. That's why you often see them being used in hospital operation theaters a lot.
But what if you used them in your day-to-day activities? You would no longer have to remember what needs to be done or how to do it, saving both time and mental energy.
In fact checklists have been shown to improve performance levels by up to 44% - so it's time we start using them more often!
4. Create a network of partners for joint ventures
Joint ventures are becoming more popular these days. Why is it so?
It is because they allow businesses to share resources and create partnerships. You definitely need to create relationships and networks with other companies of similar interests.
A joint venture is when two firms work together on a project under an agreement to increase their chances of winning an opportunity. They agree to put their resources together thereby enhancing their capacity to perform the contract. These resources can be financial, personnel and or equipment.
Joint ventures are often used by small firms as it helps them to gain more visibility and promotion in the marketplace. JVs help small businesses secure new clients taking advantage of the combined experiences.
In addition to that, they help build trust with other businesses in order to make connections. JVs also give you access to new audiences and they are a great way to get more exposure.
Joint ventures are not only beneficial for small business owners but they are also beneficial for large businesses. Joint ventures help large companies expand their businesses as they are able to enter new markets or segments that they may not be familiar with.
One of the major benefits of a joint venture is increased revenue. By working together and sharing resources, two or more enterprises can generate more revenue than they would on their own.
Joint ventures also provide opportunities for diversifying products. This means that they offer other forms of income, not just from the joint venture itself but from other projects as well which reduces the risk of not making any income at all.
6. Build a standard repeatable process for responding to bids
When you are faced with a business opportunity, how do you qualify that opportunity? How do you make a decision to go for it or not? When the tender opportunity arrives, what do you do?
These are the questions you should think about in order to build a system for responding to tenders.
It is important for you to have a process that can be used to respond to tenders. This makes it easier for you and your team to know what is required for the bid. You do not have to waste time thinking about what to do next. You can easily get up to speed with the bid management processes.
Other benefits associated with developing a repeatable response process:
- Increased efficiency and organization
- Easier collaboration between team members
- Improved quality of the bid
7. Set time annually or biannually to update your information
Doesn't it make sense to have information which is up to date and that you can use it when required?
It takes time and effort to create and maintain up to date information. Instead of updating your information when you are writing a bid, create a specific set of times that you can follow throughout the year to update your bid library.
For example, once or two times per year that you set aside to update your bid library. Having these set times in place will help you concentrate on writing your bid and not waste time trying to update your library information at the same time.
Conclusion
The bottom line is that you need to get rid of all the things that waste your time such as unorganized data, duplication of work and haphazard processes.
These things distract you from actually concentrating on winning that particular bid. You need to save your time and preserve your mental energy for creativity and enhancing your proposed solution.
What are some of the ways that have helped you write bids faster?
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