6 TIPS TO ACCELERATE THE BIDDING PROCESS

6 Tips to Accelerate the Bidding Process

Bidding with the lowest cost or increasing your bidding volume won’t necessarily get you ahead of the competition or speed up the process. However, being tactical and thorough will. Check out these tips for improving your bidding process in an increasingly competitive and complex industry. 

• Bid on the right projects
  • Don’t just take on any job because it’s available. Take on the right job because you are qualified to do it. Avoid bidding if you do not meet the requirement or lack the project specialties. This will cause you to spread yourself too thin. Instead, focus on the projects that suit your niche. Be confident that you can execute that project well. Capitalize on your specialty to craft a winning proposal for it. These are the projects that are likely to be most successful and lead to repeat business.      
• Work with key people
  • Build your credibility by fostering relationships with vendors and subcontractors.  You want to build relationships to show that you are dependable and doing so with key players who make the major decisions. Developing a more meaningful relationship with stakeholders will set you apart from other contractors.
• Adopt technology
  • Technology will help you increase productivity which in turn will make you more appealing to prospects as you accelerate project delivery and decrease labor costs through automation. Use technology to improve team efficiency,
    communication, safety training, and data management. Find the software that meets your needs and watch your productivity soar. Here are some of our tech stack recommendations: 
    • CompanyCam 
      • A photo app designed for contractors to communicate with teams and document jobs.
    • Planimeter
      • Use this app to measure distances and land areas on maps including landscaping, paving, roofs and more.
    • Bill 
      • This software digitizes and automates back-office financial processes and makes paying vendors far more efficient. 
    • InvoiceASAP 
      • A mobile invoicing tool conveniently designed for field service businesses. 
    • Asana 
      • This task management application organizes, tracks, and manages your team’s projects to help you optimize your workflow.  
    • Weather app
      • An accurate weather app can do wonders for someone in the field of construction, especially when it comes to planning or preparing for tasks such as pouring concrete. 

• Make an accurate bid
  • Estimates can be tricky to nail on the head as they need to be backed by substantial research. Do your homework to produce an accurate estimate. No one wants to be misquoted, underquoted, or overcharged. Be upfront about costs and demonstrate the value of your service. A reasonable bid typically falls under acceptable profit margins. When making a bid, be sure to not forget the details. Review documents thoroughly as filing incomplete forms leaves a negative impression on clients. Double check to make sure that you have the labor and materials to get the job done. A solid estimate depends on having these factors in place for project completion. Rushing a bid will only lead to careless mistakes. Take the time to produce a precise and well thought out bid. 
• Make your value proposition clear
  • What separates you from the competition? Your value proposition is your competitive advantage so being straightforward with what you bring to the table will help differentiate you from competitors. Customer service, expertise, and quality work can tip the scales in your favor. Perhaps you hired trained workers whose skills align with the project at hand or maybe you recently began using the latest industry equipment. Showcase what you have to offer and be confident in your ability to deliver! This is how you get your bid noticed. 
• Know your competition 
  • Research the criteria that your competition uses when you are getting ready to bid on a project and make an effort to bid ahead of them. Use bidding marketplaces like BidPlanroom and BidClerk to proactively discover jobs and create a profile that appears in searches. See if you can beat the average time for an initial bid to come out – 8 days! Being the first bid to a prospect will grab their attention as they are waiting to learn more about the practicality and execution of their project. 

You have the skill and the expertise – it’s time to apply these tips in your refined bidding process. Contact us to learn more about the bidding process and any other construction related needs you may have!