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Small and medium enterprises don’t only need to create and sell products to end consumers. Even for retail-ready B2C (business-to-consumer) products, finding yourself a few institutional customers can bring you stability with a few large, regular customers apart from your individual customers. Other business might be purely B2B (business-to-business) or B2B2C (where your institutional customer is the one that sells to end customers).
There are four steps that can help you become a vendor to a Public or Private Organisation. The following are the steps illustrated individually.
Prepare for a successful Bidding process
- Plan ahead – Make sure you are not too late and that you’re on the right track by looking into the market.
- Your staff should be on the same page as you.
- Prepare all standard material that needs to be submitted along with proposals/offers.
- Train your staff on proposal writing.
- Explore potential collaborations with other companies and do extensive research on their needs and potential.
Know what you offer, preparation is key at all times
- This is very crucial because this is how you show your potential and stability to the industry.
- Hence, examine the bid document carefully and follow the instructions provided.
- The final objective of submitting an offer is to win the bid, but you should also remember that winning can be very subjective.
- You should always clearly mention your unique selling points.
- Understand your client well.
- Read, re-read and re-re-read your bidding documents till you are sure that everything is in order.
What happens after you win the bid
- Well, winning doesn’t mean you can give up on preparing for the bid. Now the job is yours and this is the most difficult phase.
- Luck doesn’t help the game in the long run, this is why you need to keep your clients satisfied and deliver work on time.
- Efficiency is mandatory.
- But sticking to the contract is way more important than good performance.
- Honesty? Yes, a must have between you and the client.
- Give your client a road map of where you’re heading and what the progress is time to time.
- Having a plan B is what most of the companies do, so be prepped with a plan B at all times.
- Be proactive.
- Contractual obligations involve delivering what you promised before accepting any mode of payment from your client.
- If the client is satisfied, that is when you finish the project!
Analyse, Improve, Prepare for Future Bids
- Do a performance analysis, know what and what not should be done and areas you need to develop.
- Do a reflection on the project you just finished with your team member. They need to know how they performed for further improvisations.
- Secure client feedback and use it to improve your future execution plans.
- A product efficacy test and a mechanism that can cater to all the identified problems is a must.
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