Check out the articles below for more RFP news from The Bid Lab and for collaborations with industry leaders.
Post Written By Maurice Harary, Forbes Councils Member If you’re a professional in any level of business, you’ve likely acquired stacks of business cards from the myriad meetings and networking events you’ve attended. From trade shows to happy hours, when I look at the stacks of cards I’ve collected over the years, I like to…
Businesses usually start within their local community. Small and medium enterprises draw a lot of their customers from their local region, and many even hire within the area as well. However, as a business expands, it quickly realizes that the local region may be holding back its growth. There is only a finite amount of consumers within the local catchment area, and the company needs to reach out to more people if it wants to realize its full potential.
Studies have shown that workers who have ideal workplace conditions are more likely to be innovative and creative. It’s up to leaders within the company to set the stage for this sort of mindset. Engaged workers tend to enjoy their work more and are far more productive, but without leaders invested in creating ideal working conditions, employees may consider leaving the company for greener pastures.
Putting together a winning request for proposal response does not happen overnight. As the founder and CEO of a bid consulting firm, I know that writing an RFP is not simple, easy or quick and is likely why more businesses do not compete in the procurement process. Larger companies often have dedicated project management teams to divvy up RFP responsibilities. Smaller companies, however, typically cannot afford that same luxury.
RFPs can be tricky. Not everyone knows how to make an effective RFP that will get a great response. Sometimes you may need help to get the best response on your RFP. The Bid Lab is helping many to get a great response to the RFP.
As the needs of consumers evolve, organizations are forced to rethink their current marketing practices and evolve. Paid advertising will likely always be a valuable method for reaching current and prospective customers. However, organic marketing can help facilitate a connection with a target audience that benefits both the audience and the business for the long term.
When you’re looking to fill a skills gap or your company is growing rapidly, you may be considering outsourcing certain aspects of the business. Contracting outside the company can free up valuable time and resources, and this can improve your bottom line in the long run. However, not everything can or should be done by someone else, so you’ll have to carefully consider which tasks you pass off to others.
Business negotiations require finesse and an understanding of the person on the other side of the table. That doesn’t mean that you can’t be aggressive, but you should know where and when to stop to get the best results.
Smart business owners know the importance of practicing due diligence before signing any contract, whether you’re acquiring a company or hiring a new vendor. To ensure that you understand the ramifications of the agreement (and that you don’t find yourself in a suboptimal situation), you must conduct the appropriate research. However, due diligence can be a lengthy and complicated process, and you may not always be able to devote the necessary time to it.
