To bid or not to bid? That is the question

It’s tempting to ‘have a crack’ at every opportunity that presents itself, but that’s not a wise strategy at all. All bids should be qualified ‘out’ until they are qualified ‘in.’ The bid/no bid process is a critical decision-making moment. It determines whether you should invest time, resources, and energy into bidding for a project or if it would be wiser to walk away.

When faced with a potential opportunity, here are the top four things we recommend you consider:

1. Do we want it?
   Does this opportunity align with your company’s goals, capabilities, and long-term strategy? If not, walk away.
2. Can we win it?
   Do you have a trusted relationship with the client and truly understand their needs? How do you stack up against the competition? If you haven’t pre-positioned and your chances are low, walk away.
3. Can we bid it?
   Do you have the time, people, and budget to put together a competitive bid, without impacting other active work? Bidding is costly, especially when done well. There’s no prize for second place – If you can’t do it well, walk away.
4. Can we deliver it?
   Are there risks, unclear scopes, or a tight delivery programme? Do you have the capacity to deliver it? Can you make a profit? Let’s just pause for a minute and process all that. Taking on risks you can’t control, or getting into a race to the bottom on price, isn’t a win. Walk away.

Knowing when to walk away

Sometimes, the best decision you can make is to walk away. The no-bid decision is just as strategic as the decision to pursue a bid. It requires a high level of maturity and realism from the decision-maker, supported by a robust bid/no-bid process. Knowing when to walk away ultimately helps you to bid less and win more, improving your return on investment in time, resources, and energy.

Is this a tender I see before me?

So next time a tender drops on Gets – before you rush in, consider the four questions. And, if the first time you know about an opportunity is when you see it on Gets…well, a lotto ticket might be a better investment!

If you’d like a free copy of Height’s Bid/No-Bid Checklist, get in touch.