Three Ways to Bounce Back From a Losing Bid

Three Ways to Bounce Back From a Losing Bid

Government contractors  understand the value of winning each bid and how every one counts toward their yearly business profits. Being able to close a deal is what ensures your company’s growth and continuity. But what happens when you see the sell slipping through your fingertips and even waving the white surrender flag does nothing to stop your ship from sinking? Below are three signs that your bid is getting away from you and solutions to help you save it.

  • Indifference – beware of apathy! If a client isn’t asking questions or voicing concerns about your bid, let the alarm bells go off in your head. When someone is serious about using your business, they will have issues that need to be addressed. One way to overcome this is to act as more of a “consultant”. Indicate that you will do whatever it takes to help them or you can point them in the direction of someone better suited to help. It may seem counterintuitive to do this, but this will develop trust with a client that can take you much further than your competition.
  • No Deadline – if there is no deadline for a decision, expect the process to keep circling in a never-ending death spiral. Before anything begins, ask what the timeframe is for the client. If there isn’t one, create urgency by offering limited-time discounts and offers, or show them what their competition is doing and why a quick decision needs to be made.
  • Unable to Speak with Decision Makers – this is a frustrating way to slow the decision making process. If you find yourself unable to speak to senior management after several conversations, try putting together a presentation that your junior level contact can easily show his superiors. Requesting a quick conference call with those on top is also a good suggestion and should help you break through to the decision makers.

When entrepreneurs and small business owners are slammed with work and have little time to get everything done, it’s tempting to only do the minimal amount required to meet a bid. But simple tactics like digging a bit deeper, using a bit more creativity, and showing why your company is unique will go much further than just meeting the minimum requirements and should help increase your odds of winning every bid.

Leave a comment below and tell us your strategies for saving a sell!

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