Once you have found a suitable tender and downloaded the tender documents, read the tender request. A thorough read is necessary for analysing the tender request, also known as Request for Tender or RFT . Only then can you know for sure whether it's worth putting in the hard yards required to submit a winning response.Top 10 Tips for Analysing a Tender Request
1. Make a list
Make a list or highlight the goods/services being asked for. If you can't deliver (or can’t find subcontractors to assist), don't bid. If you can, make notes for your response as to how you intend to address each of these.
2. The current supplier isn't always the preferred
- Normally you might skip this opportunity. However, if the opportunity fits with your long-term strategy and delivering the tender would not cause financial stress then consider submitting a tender response. Work often leads to more work.
- Known as loss leader tendering, this strategy offers a service/product at a price that is not profitable but may attract future business or the opportunity to sell other products to the same company. This gives you access to a potential new market.