Top 5 reasons to gather info about business opportunities – and what to gather

There are multiple reasons to gather information about an opportunity.

1. We need to confirm the four opportunity elements listed in our previous blog post, 4 Major Elements of Qualified Business Opportunities.

2. We have to ensure that no organizational conflict of interest (OCI) situation exists that will affect our business—such as our already holding a contract that specifically precludes our bidding on the identified opportunity.

3. We need to work internally and with any teammates to determine ways to influence or shape the procurement—ethically, of course—and to gather details continually to support our ongoing Bid/No Bid assessments.

4. We need to determine the who, what, where, when, why, and how to qualify an opportunity. We want to:

• Identify our strengths and potential gaps related to the opportunity
• Gather necessary information to tell our story before RFP release
• Scope the size of the opportunity and identify resources for success
• Determine whether we have sufficient time to develop necessary capabilities, gather necessary information, or form a team to fill those gaps

5. Fundamentally, we need to stay ahead of our competition in all aspects of discovering information about and preparing for any targeted procurement.

Lohfeld Consulting Group Team