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. This golden rule applies across all industries and disciplines- from Information Technology to janitorial services, or from supplying anything from LED light bulbs to self sealing stem bolts.
But make no mistake about it. Winning competitive RFP or 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 or RFQ responses going just to win one. Question is . . . which ten?
Obviously the business owner described above responded to the wrong RFP or RFQ opportunities.
Bottom Line: Think Twice Before You Respond To Any RFP Solicitation!
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