Is There a Downside to Tenders?

You have spent a lot of time and money responding to a tender.

You have put in all your best words, your best price and you think….

This Tender is a winner!
Only to find out that the tender you put so much time into is lost.

Some people would go into a fetal position rocking backwards and forwards. Others would let this knock them back, spoil the rest of their week.

Others would say, “No-one ever wins these tenders – what a waste of time. I’m not doing this again”. While others, yell yahoo

Which one are you?

It is hard to move on from a losing tender. After all, your business will find it harder to grow if your tenders fail to win.

Letting a losing tender ruin your day, week or month and blaming the company for not picking you, might be what is on your mind. However this is counterproductive.

Thinking and blaming others won’t help you to win the next one. Or show what you and your company are made of.

The person who yells yahoo has seen the opportunity to grow. After all, growth in business is what it’s all about.
This person can see that this loss will result in being able to meet with the client and have a loss review.

“Most great people have attained their greatest success just one step beyond their greatest failure”
Napoleon Hill

This is a way of understanding what gaps were in the tender.
Understanding how the client perceived the company.
Understanding how the company stacked up against the competitors.
Understanding of why the company lost.

Understanding what are the hot points of the client –the unwritten “must haves”

As well as can be the start of their relationship.

Think of a loss review as free consulting – to make your company better and stronger.

Where else can you have your ideal client tell you what is important to them? Can you imagine just how powerful this is? They answer your questions and this information can be the difference that you need to win the next tender.

All of this valuable information can be used to make the next response much better. It can help your company fill any perceived gaps and put your best foot forward next time.

This is where real growth will occur in your business as well as personally.

Every tender is actually a win, a win financially or a win in growth of your company.

In the loss review the person knows that the client will provide valuable insights about the tender response from a clients’ perspective.

As long as you pick the “right” tenders to go for – There is no downside to tendering!

The next article will cover what are the “right” tenders

If you have any tendering questions email info@winwintendering.com