Posts
It is a fantastic opportunity for a business to be able to supply another business or government, as it will potentially improve the success of your business. It is important you bid for contracts because winning and keeping them can be the crucial way of helping your business to grow and expand if you are not a retail-focused business.
A lot of money is spent on goods and services each year, in the public sector. Most of this goes to the larger businesses, who will then, hire subcontractors. You may prefer to team up with other businesses and bid directly for work by forming a consortium. Public- sector work is such a larger market and you may be able to find work with government departments and agencies. However, it is a lot more complex that this and that is why some companies prefer to get involved with the private-sector as it may be more profitable in the long-term.
Many people may find it hard to get in with the public sector, but there are a lot of opportunities for repeat business for example that of framework agreements and approved supplier lists. To efficiently compete for contracts you should understand what is out there, be able to make a decision on which contracts are worth tendering for and have the ability and experience to prepare a successful tender. To be able to do this effectively, you should have a clear understanding of what the contracting organisation is looking for, therefore your documents should emphasise why your business is the best option for answering the needs that are in question.
Deciding on how many contracts to aim for can be a difficult process, firstly, you should decide on a strategy for taking on contract work whether it be a small number of big contracts or a larger portfolio of smaller ones. Having a few large contracts is often easier for your business to be managed; however this could potentially leave you vulnerable to losing a lot of revenue when the contract eventually expires. On the other hand, smaller margins could spread the risk but may offer smaller margins and involve more administration and account management.
Contracts that you bid for can be easy or difficult to find, you just have to ensure you have a large network and good resources, so that the best contracts for our business can be identified. Contract work can come from existing customers, which could offer you a better chance of success and also it could come from new customers, which would offer you more growth potential, both of which are equally important factors. If you want to reach private-sector contracts then you should look out for advertisements and tender notices. Ensure that you are treating your existing customers well, so they will want to give you more contracts and carry on building on your networks. A smart idea would be too approach businesses who have just won contracts, because you can learn what they did in order to win it and you could build customers from them. You should ensure that you are doing extra reading and research into the business sector so you are aware of any opportunities that may arise.
Tendering normally works extremely well for companies who are big enough to handle a new contract but at the same time are still ambitious enough to want to be able to grow and develop. In this field you have to continuously look for opportunities to grow, a way to do this is by setting realistic goals and targets. Tendering is also ideal for companies who sell products and services which can be judged on the price for example printing, graphic design etc. You will learn that tendering for business can be a lengthy process, as it a medium term way of generating business and could potentially take up to 6 months and after this the contract may not start for another 6 months, so it is important you remain patient as everything will work out in the long run.
A lot of money is spent on goods and services each year, in the public sector. Most of this goes to the larger businesses, who will then, hire subcontractors. You may prefer to team up with other businesses and bid directly for work by forming a consortium. Public- sector work is such a larger market and you may be able to find work with government departments and agencies. However, it is a lot more complex that this and that is why some companies prefer to get involved with the private-sector as it may be more profitable in the long-term.
Many people may find it hard to get in with the public sector, but there are a lot of opportunities for repeat business for example that of framework agreements and approved supplier lists. To efficiently compete for contracts you should understand what is out there, be able to make a decision on which contracts are worth tendering for and have the ability and experience to prepare a successful tender. To be able to do this effectively, you should have a clear understanding of what the contracting organisation is looking for, therefore your documents should emphasise why your business is the best option for answering the needs that are in question.
Deciding on how many contracts to aim for can be a difficult process, firstly, you should decide on a strategy for taking on contract work whether it be a small number of big contracts or a larger portfolio of smaller ones. Having a few large contracts is often easier for your business to be managed; however this could potentially leave you vulnerable to losing a lot of revenue when the contract eventually expires. On the other hand, smaller margins could spread the risk but may offer smaller margins and involve more administration and account management.
Contracts that you bid for can be easy or difficult to find, you just have to ensure you have a large network and good resources, so that the best contracts for our business can be identified. Contract work can come from existing customers, which could offer you a better chance of success and also it could come from new customers, which would offer you more growth potential, both of which are equally important factors. If you want to reach private-sector contracts then you should look out for advertisements and tender notices. Ensure that you are treating your existing customers well, so they will want to give you more contracts and carry on building on your networks. A smart idea would be too approach businesses who have just won contracts, because you can learn what they did in order to win it and you could build customers from them. You should ensure that you are doing extra reading and research into the business sector so you are aware of any opportunities that may arise.
Tendering normally works extremely well for companies who are big enough to handle a new contract but at the same time are still ambitious enough to want to be able to grow and develop. In this field you have to continuously look for opportunities to grow, a way to do this is by setting realistic goals and targets. Tendering is also ideal for companies who sell products and services which can be judged on the price for example printing, graphic design etc. You will learn that tendering for business can be a lengthy process, as it a medium term way of generating business and could potentially take up to 6 months and after this the contract may not start for another 6 months, so it is important you remain patient as everything will work out in the long run.
No comments:
Post a Comment