Bid Wisely and Selectively

April 13, 2006

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No business--large or small--is going to win all of the contracts they try for. And subcontracting work is no different. Statistics show that, at best, you will win less than one-third of the contracts you bid on.

With that in mind, in order to seal the deal, our advice is to bid only when you are sure that you have a reasonable chance of success; in other words, only under the following conditions:

when you have researched the product or service the prime is providing and you are sure that the prime's needs and your capabilities are a match
when your qualifications are a near-perfect match with the requirements
when your price is very competitive but still profitable for you