I’ve mentioned financial
modelling in a previous tip, but this one focuses on how you price your bid
competitively. It is probably the single
most important decision you can make on a bid so make sure you spend time on it
and do everything possible to get it right for your organisation.
Unfortunately many
organisation price simply to win a contract; this is not a recommended
approach! You need to look at what price
is right for your organisation as opposed to what will simply win the contract. There is no point in winning a contract if it
will financially cripple you, particularly if you are an SME.
The only reason it may be worth
pricing to win is if you can break even and it stops a competitor getting in to
an area you want to protect or even potentially a re-tender. This is still risky as it only takes
something small to go wrong and you are losing money.
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