Ten Tips for Creating a Winning Proposal – Part 2

Part 1 of this series described five critical components for
creating a winning proposal. In some instances, these components
are all a prospective client needs to make a determination and
award the job. Be sure to carefully review the request for
proposal to determine the amount of information you need to
include in your proposal. Remember, each proposal is unique.

Here are five more tips to keep in mind when preparing a winning
proposal.

Tip #6 – Properly Estimate Job Costs

Selecting the right price for the proposed work is a delicate
balancing act. Pricing the job too low could cause you to lose
money on the job. Also, a bid that’s too low might be perceived
by the client as unrealistic and cause you to lose the bid. Take
time to properly consider the amount of time and materials
involved in completing the tasks you have outlined and price the
job accordingly.

Tip #7 – Add Meat as Necessary

Proposal requirements vary greatly. If you’re putting together a
proposal for a major corporation or a government job, you’ll
probably need extensive documentation. Examples of additional
information that might be required include sub-contractor
agreements, non-disclosure forms, contingency plans, change order
procedures, risk analysis data, benchmark results and more. If
the request for proposal asks for it, be sure you include it.

Tip #8 – Don’t Reveal Too Much!

When submitting your proposed solution to the prospective
client’s problem, you must not reveal too much information. You
need to satisfactorily explain your approach while at the same
time keeping some information to yourself. Sound confusing? How
about this: If you tell the client exactly how to solve the
problem, the client might decide to implement your solution
without your assistance! You’ll lose out on the bid, not because
your approach was inadequate, but because you explained it so
well the client did not need an outside company to implement it.

Tip #9 – Proper Presentation

Once you’ve gathered all the important components for your
proposal, take time to ensure it is properly presented. Put
together a Table of Contents and check that all copies of all
documents are proofread, smudge-free and in the correct order.
Finally, insert the proposal into a suitable binder. Give the
finished document a final review; it’s your last chance to
correct any mistakes. Submit the proposal according to the
instructions provided and make sure it is delivered before the
submission deadline. If possible, deliver the proposal in person.
You never know who you’ll encounter on the receiving end!

Tip #10 – Investigate the Winning Bid

If your company is not awarded the bid, try to learn more about
the company that did submit the winning proposal. Put on your
investigator hat. Find out the price submitted with the winning
bid and the approach that was proposed. Research the company
itself. Use whatever you discover as a learning tool for the next
time. The information just might help your company put together
the next winning proposal.

And there you have it – ten tips for submitting a winning
proposal. Good Luck!