TArticles tagged with: business opportunity

7 Reasons to meet the client before RFP release

Best informed wins

The better you understand a new business opportunity, the more likely you are to make an informed decision about whether you should bid. Similarly, the better the government understands your firm’s capabilities, the more likely they are to want your company to compete. Meeting the client is an essential first step in this process. You must conduct face-to-face information-gathering meetings with clients to increase your knowledge about the opportunity and to begin positioning your firm as a leading competitor for the procurement. While market research provides a running start at understanding the opportunity, the clients are the ones closest to the opportunity and can provide information that outsiders cannot. By holding true conversations with a client as soon as possible in the opportunity identification and qualification stages – versus holding thinly veiled marketing meetings – you can gather information that helps you to understand the client’s requirements and objectives,  tailor … Continue reading 7 Reasons to meet the client before RFP release

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

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4 Major Elements of Qualified Business Opportunities

It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so. –Mark Twain Determining if there is actually a business opportunity for our company is the first step in business development (BD). The government competes thousands of procurements each day, and not all of them are suitable for our company to bid. Picking those that are a good fit—and turning down those that are not—is one of the most important decisions we can make in winning government contracts. We can use multiple approaches to identify potential opportunities. Key parameters such as historic buying patterns, projected industry trends and demands, and revenue and market share can help shape our understanding of future opportunities. We can use personal relationships (current and former clients, retired agency personnel); hire marketing consultants; use agency forecasts or research services (e.g., Deltek); and conduct primary research (agency … Continue reading 4 Major Elements of Qualified Business Opportunities

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