Government contract offers a huge pool of opportunities for both small and large enterprises. Each day federal, state and local agencies release several tenders across regions and sectors. Given its wide variety of reach and the lucrative business opportunities that come along with a government project the competition is certainly fierce and one needs to stand apart from the competition to come out successful.
Although, there isn’t any universal template or procedure that applies to every government bid. The weightage and scoring of each tender will be different in the ease case. Here we have listed out the top five ways that can help you bag the most sought after government project.
Do your Research
To compose the perfect tender response it is important to do primary research about the prerequisites of the clients that include an understanding of the offering of that government division, their policies & directive principles, and requirements from the tender.
Keep these things in mind before you carry on with the research process –
A thorough analysis of the tender document is a must for understanding the condition and requirements of the project. Also ensure that you will be able to meet the capacity requirements in terms of Manpower, Technology, and Experience.
It is critical to attend all briefings and meeting sessions and ask relevant questions to demonstrate your unique position to be able to provide the service.
Devote plenty of time in drafting the tender proposal and do not forget to attach every document. Keep the capability statement relevant to the scope of the government project and show how your services are different from the competitors. Considering a covering letter will be an advantageous choice.
Technology is Key
Over the few years Bid Managers, Suppliers and Contractors have made the shift from paper-based material to use bid management software that can keep track of the varied activities in the bidding process on a real-time basis. Automation of the bid management process gives the time to cut down mundane activities and focus on areas that can increase your chances of winning.
Keep yourself Mindful
While various government agencies put out thousands of tenders in the market one can understand the magnitude of the opportunities that are out there. Hence it is important to use the first mover’s advantage by bidding on the government opportunities before the competitors.
Stick to the timelines
Ensure your bid proposal is well prepared before the final submission deadline. Try not to stand by until the last moment to submit the proposal as that might miss you out on the chance of being able to submit the documents. Late responses set up a negative image of your business and such responses are not accepted by the government organizations unless furnished with conclusive evidence for the delay.
Subcontracting
It often gets difficult for smaller businesses to secure bid government contracts due to the inability to meet eligibility requirements or lack of experience. Going sub is a smart way for SMEs to bid into government contracts by tying up with seasoned contractors that can give you valuable insights about the business along with securing the benefits of participating in government projects.
Above all stay positive and do not get bowed down with the competitiveness in the market. Have faith in your organizational capabilities and teamwork. Seize the right opportunity and prosper!
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