Why Contractors Lose Bids and What Can You Do About it?
One of the most often asked queries is “why do I lose bids?” Contractors often think about why their bids fail after so many preparations and years of expertise. It also makes them fussy and hinders their business growth. There are many reasons why they fail when you dig deep into them. Companies vying for contracts will certainly experience failure at some time, but it is essential to understand why your bid was rejected.
Assuming you have picked a good proposal and priced it competitively, you must next convince your potential customer that your firm has the resources, knowledge, empathy, and solution to fulfill their needs. Let’s examine a few things and reach a decision. In this article, we will critically evaluate the factors that end up making your proposal not worthy enough to win the project bid.
You have to check on the following things
Knowing Your Client Well
To make your proposal more compelling, you must show a strong knowledge of your company’s business goals, i.e. the logic behind them. Show that you have taken the time to comprehend them and often emphasize their objectives.
Provide information on how your goods or services will assist them in achieving their objectives, no matter how minor. This will assist you in adhering to the first guideline, which is to be less general. You must have a clear understanding of your client’s preferences and requirements.
Strictly adhere to the Specifications
The specification is undoubtedly your guide for completing the bid, and failing to adhere to it will certainly fail. You need to take notes and pay close attention to details such as word count, font type, layout, and style since they often trip up businesses.
Any feature that is not adhered to is a possible basis for exclusion by the assessor. As procurement processes grow more aggressive, the contracting authority will search for any excuse to reduce the pool of candidates, so adhere to the specification.
Possess Convincing Evidence
Each claim you make in your bid submission must be supported by evidence. You must be able to describe how your services will contribute to the contract’s success. The contracting authority cannot be certain of the quality of your offer without sufficient documentation, and you will likely lose out to a rival.
Do not be More Generic
Although this may seem obvious, you would be astonished at the number of bids that are just “cut and paste” or template-based answers. Here, the remedy is simple: stop talking about yourself and start talking about other people.
If you emphasize your own company’s ambitions more than theirs, you will submit a losing bid. The more the readers engage with the content, the more often they see their names. The offer is ultimately not about you; it is about them.
Not meeting the funder’s criteria
As with qualifying requirements, it is typical for organizations to apply to several funders without first ensuring that the funder’s interests align with the work they want to sponsor. Priorities of the donor are the particular issues and areas of activity they intend to support.
For instance, two separate donors may both support programs for the benefit of children and youth, with one backer giving priority to sports projects and the other to creative arts projects. If a charity dealing with youngsters appeals to the founder of creative arts for a sports initiative, it will be denied. So, you must keep the funder’s expectations in mind while preparing your bid estimations.
What Can You Do To Solve this Issue?
Now as we have evaluated the reasons that cause the failure of your bids, now let’s see what you do to make a difference. You may be a busy contractor who is unable to take out sufficient time needed to prepare every detail for bid, and end up failing. But it can’t always be.
There is always an effective solution to every problem and for busy contractors, builders, and architects, the most effective solution is outsourcing their project estimating and takeoffs to cut unnecessary time and to be more productive. There are many estimating and takeoff companies working for busy contractors, builders, architects, and others. Finding the best one can be challenging though!
Don’t worry, we have a solution for that as well. All you have to look for is to find one who has extensive industry knowledge and a competent team of estimators. What can be a better option than Nedes Estimating? Keep reading to know why you must hire professionals from Nedes Estimating.
How Nedes Estimating Can Turn the tables for your business Growth?
In an ideal universe, you would ultimately form your own estimating staff. In fact, this should be your long-term objective. But there is a middle zone where you desire to expand your business but lack the inbound contracts or cash flow to create a workforce. You’re doomed if you do, and you’re doomed if you don’t.
On the other hand, employing an in-house estimating staff might be quite costly for the majority of contractors. The typical annual income for a construction estimator falls between the $65k to $85k range. Including tax payments and coverage, this can further exceed which can be troublesome for your pocket.
Nedes knows that the majority of contractors are tiny businesses that do not have enough work to justify a full-time employee. We recommend employing a skilled Construction Estimating Services Firm like Nedes Estimating to assist in the expansion of your business.
We may investigate local projects, contact customers on your behalf, and get an Invitation to Bid for the work. In addition, we can estimate your projects and handle all follow-ups and negotiations. It’s the same as having a full sales and estimation staff without the associated expenses.
Your local market-based estimates will be exceptionally accurate due to our knowledge in this area. We will contact suppliers on your behalf to get prices for specialized products.
Our Expertise
Nedes Estimating is a licensed general contractor with an in-house construction division. Our organization is seasoned estimators and project managers, so the quotes you get are from a team that has actually constructed these projects.
We provide lead generation and estimate services for projects so that we can assist you where you need it most. We have hundreds of happy clients from major fields of construction like renowned contractors, subcontractors, builders, and architects. Explore our home page to check our team’s prior work portfolio.
Advantages of Hiring Our Seasoned Estimators
By partnering with Nedes Estimating, you will have access to a comprehensive sales and estimating staff. It’s the equivalent of employing a complete crew overnight for half the price. You will have access to expert staff for all estimations and takeoffs that will correctly bid on your projects. More estimating implies more contracts.
One of the advantages of working with us is that we provide broad tactics for generating leads and teach our customers to get new client chances. We’ve designed the Xplode Strategy to assist our clients in generating more leads, estimating projects more quickly, and acquiring lifelong customers. The objective is to assist you in building your organization and estimate your projects as part of your team.
Guaranteed Accuracy
We guarantee our estimates will help you in winning bids with 95% assured, so you can feel comfortable in the case of a mistake or omission and securely conduct your projects with the bids we provide for you. It is an insurance policy from Lloyds of London that we hold for all of our clients.
Nedes Expert estimators have handed over around 1789 successful projects all across the United States. We have 1247 Full-time Salaried estimators. All of our professionals have expertise in different fields of construction with 3 decades of experience. They have helped our valued client to make almost a 5000 Million revenue by winning a maximum number of bids for them.
We have working experience in 44 Countries. That is why Nedes Estimating is better than the best. Our expertise includes residential renovations, big high-rises, and commercial structures. Because we have performed more than 10,000 estimates, we have encountered every sort of project.
Conclusion
To conclude, Nedes Estimating is your reliable partner for any kind of project estimations and takeoff services . Are you looking for a reliable service provider? Our free quote within 5 minutes policy is one of our most popular features. We provide 24/7 email support and live chat and call support to make sure that you get all the help you need whenever you need it.
We offer a 100% guarantee on all our services and we also have a refund policy if you aren’t happy with what we do. Our Bid Winning Ratio is at 99%, which means that every time we bid, we win! This gives us the flexibility to do what’s best for your project without worrying about losing money because of it. You can rely on our estimators’ precision, rest assuring you will be winning the project.
We take pride in providing quick turnaround times as well as qualified & experienced estimators who are always available to answer any questions or concerns that might come up during the process.
Why are you still waiting? Dial our number and Get in touch to get started
