In the world of business, inconsistency can be a business’s worst enemy. Trust and confidence in your company can quickly erode if your work lacks accuracy and reliability. However, maintaining consistency is a sign of meticulous planning and builds trustworthiness in the business landscape. One area where consistency is crucial is in your bids for work and the pricing you attach to those bids. In this article, we will delve into the topic, providing you with insights on how to enhance the consistency of your bids.
Automating the Process
For companies that frequently submit bids for projects, utilizing automated software systems can be a game-changer. By employing CPQ (Configure-Price-Quote) software, you can streamline the bid process, save time, energy, and ultimately improve accuracy. This simple automation solution can make a significant difference for advanced bid-producing companies in 2020. [^1^]
Make a Template
Whether you are bidding for funding within your organization or responding to a construction project proposal, having a consistent template is vital. Understanding the elements that make up your bids and ensuring these components are replicated accurately in every bid is crucial. By creating a template that you can use for all your bids, you build a foundation of consistency in delivery.
Price Up Goods and Services
To achieve consistency across all your bids, it is essential to establish standardized pricing for the goods and services your company offers. Avoid the pitfall of presenting misaligned prices, as this can discourage potential bid grantors. Mapping out and documenting the costs of every aspect of your project allows your entire team to have a clear understanding of the pricing structure. A shared document ensures that everyone is on the same page and helps maintain consistency throughout the bidding process. [^2^]
Inflation Adjustment
As market conditions fluctuate, it is necessary to adjust your prices for inflation and other market factors. Treat your prices as provisional rather than final, ready to evolve to meet supply and demand changes. Regularly update your pricing document and ensure that your staff members have access to the most recent version. By sharing the updated pricing file, you promote consistency and ensure that everyone is working with accurate information. [^3^]
Networked Delivery
When submitting a bid, it is important not only to express your interest but also to establish personal and professional communication with the decision-makers. Cold-calling may not be well-received in the marketing space, but a bid that is accompanied by a well-crafted message can make a lasting impression. Take the opportunity to make your voice heard and gain the respect of those reviewing the bids. By establishing a connection, you increase the likelihood of your bid standing out from the competition.
Bid writing and pricing can be time-consuming tasks. However, by implementing these strategies, you can significantly simplify the process, saving your business valuable time and resources with each bid.
[^1^]: Project Manager News: CPQ Software
[^2^]: Inc: How to Price Your Services
[^3^]: Sapling: How to Calculate Inflation Adjustment
