Government contracting is an excellent opportunity to grow your business.
How can you get in on this opportunity and best position yourself?
Don’t Bid On Everything
When it comes to winning a government contract, it’s certainly not a quantity-over-quality exercise. In fact, when you go for the quantity approach, you are making a mistake and putting yourself in a worse position. If you are not adequately qualified to be on a certain project, then it does not make sense to send a bid out in that direction. Bidding on government contracts is all about finding the match to your skillset and showing the type of quality work that you can do. This isn’t the place to stretch for an opportunity because you want to try something new.
Know The Competition
Just like any other profession, it is crucial that you know your competition as it can help you separate yourself from the pack. Conducting your research and opportunities through the Bidspeed platform gives you a leg-up on the competition and can better position you and your proposal. The government and contractors’ relationship is one that is based on reputation, and knowing your competition better means you know what kind of reputation they have in the space.
Pricing Your Bid
Pricing is everything in the government contracting world. You don’t want to incorrectly price yourself out of a bid. Bidding too high means that you are unlikely to get noticed at all. But if you bid too low, it is seen as a red flag and will make you appear to be cheap. Knowing how to price yourself for a bid comes back to using a resource like Bidspeed that can help you know where to price yourself. Do some market research and come up with a price that isn’t too high that you won’t get noticed, but not too low where you’d be deemed as risky.
Formatting Your Proposal
Making sure to format your proposal correctly from the guidelines on the RFP (Request For Proposal) is a simple task but one that many people neglect. If there is a formatting error in your proposal, it’s likely that you’ll be kicked to the curb immediately. When neglecting formatting guidelines, you are essentially saying that you ignored the RFP or that you neglected to follow the instructions on the RFP, both of which are grounds for rejection. Having a second person review the document to make sure it is correct is always a good idea before you do the actual submission.
How Bidspeed Can Help
The Bidspeed platform hosts tools such as Competitor Research, breakdown of requirements, and Proposal Support plus more to give you the resources you need to get a bid. Bidspeed helps you respond on time, to the right opportunities, and even reminds you when to follow up.
About Bidspeed
Bidspeed is the leader in government contracting software to help you put your best foot forward and win a government contract. The Bidspeed platform hosts tools such as Competitor Research, State & Local Data, and Proposal Support plus more to give you the resources you need to get a bid. With over a decade of experience, we are poised to give you the tools and support you need in the government contracting business. To learn more about Bidspeed, check us out on LinkedIn, Twitter, and Facebook.
