Growing your business can be an exciting, but nail biting time. There are, of course, different ways to grow your business and yet many choose tendering for contracts as their method.
Having a clear and thorough understanding of your market is the first step. How well do you know your competitors and what they can offer? It's not that you should try to copy what they can offer...you should use the information to be creative in developing your own offer. The bringing together all your strengths, weaknesses, opportunities and threats from all your external market analysis can help you structure your product or service.
How you price your offer needs careful consideration. If you are entering a new market or location you may want to submit a low price in order to gain the work. However, if you are a small business this may not be an option. So finding a way of adding value to the contract may be a better option.
The treatment of overheads is another key consideration and one that is often calculated incorrectly. The incorrect allocation of overheads can create queries which the commissioners will want answers to and could either price you out of the market, or the commissioners can up your risk rating.
Lastly, the way to keep your costs competitive is to have a full understanding of what your activities and processes are that generate those costs. As businesses change over time, both organically or in a planned way, processes or activities that worked well at one time may no longer serve you well. Unnecessary activities can end up not only slowing down the delivery of your product or service to your customers, they can also cost you money.
Want to learn more about making your business contract ready? Then join me on my COMPLEMENTARY WEBINAR on 24th March at 2pm. Places are LIMITED so book now to ensure your place http://app.webinarjam.net/register/21616/bc93ccd515Unsure whether to join, then see what people say about my webinars:-
"I found the webinar really useful in helping me to think about being 'contract ready'. I found Debbie's deliverystyle engaging and interesting to listen to. The content was well presented and at a level which I could understand - but which also made me think! I found it educational, enjoyable and would highly recommend it as a starting point for getting your organisation contract ready" (Rachel Cruise - Operations Director)
"You are inspiring. Your webinars are great." (Paula Eyre - Business Analyst)
“I really enjoyed your webinar.” (Mary Lunnen - Dare to Blossom)
book your place now http://app.webinarjam.net/register/21616/bc93ccd515