Does This Sound Familiar?
The owner of a small services firm told me about how her business responded to thirty or so RFP solicitations. She spent time and effort carefully filling out the forms, crafting out a recommended approach and pricing to satisfy the requirements of those opportunities that were “right up her alley.”
And this is what she got for all that effort . . . zilch, nada (thing), diddly-squat! She was, however, invited to explain to her partners and investors why she wasted their time and money.
So What Happened?
Hearing more about her approach, it turns out that she should not have responded to any of those thirty RFP opportunities. Why? Even though those opportunities were in her firm’s areas of expertise, they were not a good fit for reasons that had nothing to do with the scope of work defined in those RFPs.
Just because you find out about an RFP or RFQ opportunity, that doesn’t mean it is an opportunity for you. But make no mistake about it. Winning competitive RFP/RFQs is a game of large numbers. You’ve got to be in as many of these opportunity bubbles as possible. The question is, which ones won’t pop on you?
So, consider my 10% theory. No matter how good your organization is, even if your product or service is the best thing since sliced bread, you still must have at least ten RFP/RFQ responses going just to win one. Question is . . . which ten? Obviously the business owner described above responded to the wrong RFP/RFQ opportunities.
Bottom Line: Think Twice Before You Respond To Any RFP Solicitation!
In my next blog, I’ll talk about how and why you need to understand the true story behind a RFP solicitation before you respond to it.