Contract work can be a steady easy source of revenue for your company, if you know how to land and manage them. Those who don’t do their homework and jump in feet first without knowing all the ins and outs of contract work can find them to handcuff the growth of a business if they don’t have the capacity to handle the bid at hand. Here are some things to think about when putting a bid together.
Understanding your capacity- Knowing what your business can handle at the time of the bid and during the contract will save you from a lot of headache. If you are going to add this to your operations, take a look at your growth over the past few years and see if another vehicle will be needed to handle your client’s needs, or if you will be able to handle the extra work with your current fleet.
Don’t bid to low- The thought of added business and serving a large customer always sounds great, and everyone loves the feeling of getting a great deal monetarily, but bidding to low may cost you in the long run. When putting the bid together be sure to show your company’s history of providing excellent service and that they are getting a value with the price you quoted. Don’t feel you need to race to the bottom, and compete on price alone, because that is not always what those evaluating the bids are looking for, they have a reputation to uphold as well.
Interested in reading more about how to put a successful bid together? Stay tuned for part two on Monday!