With the complexity of navigating many of the compliance requirements associated with today’s business environment, many small business owners can barely think beyond their next payroll cycle. Long-term thinking is not only crucial for small businesses to compete with their larger counterparts, but it can also prove to be a competitive advantage.
The majority of RFP processes include opportunities for bidders to submit questions. Whether the RFP includes a bidder conference or simply a contact person available to respond to inquiries, this is your opportunity to gain clarity for your bid. You should not simply ask what price your bid should be, but ask clarifying questions about the requesting organization that will inform your proposed cost.
For businesses committed to reaching new heights, responding to requests for proposals (RFP) is a strategy too lucrative to ignore. RFP opportunities decide billions of dollars in funding across all industries, but what is the best way to tap into such a valuable and competitive ecosystem?
If you’re a business owner, this year has probably brought its fair share of challenges. As the pandemic rages on, consumers face high unemployment and a reduction in their disposable income. Especially for companies in heavily hit industries like foodservice and hospitality, finding creative ways to improve the bottom line without the support of additional revenue is top of mind.
Like many business owners, you’re most likely heading into 2021 with a sense of uncertainty. How will you define “success” after persevering through the challenges of 2020? You might need to significantly redefine your company’s goals and objectives or, if you’re lucky, simply apply a few minor adjustments to account for the new reality created by the pandemic.
Prior to Covid-19, most companies had the resources to take on projects that didn’t immediately show a high return on investment. In 2021, however, these same companies will need to shift their focus to business operations and process optimization in an effort to recover from revenue losses and budget cuts brought on by the pandemic.
A well-developed RFP is written by the stakeholders in a company that are seeking assistance. Here we will discuss few Do’s and Don’ts of the Request for Proposal process.
