Action Plan Online, Part 9 of 10

Rules of the Game
Whether you’re bidding on a job, a home, another company or a fruit basket at a fundraiser, many of the same principles apply. Here, people who know how to navigate the bidding-war trenches offer tips that apply in every situation.

Do Your Research
“Bidding auctions work so well because you’re presenting items or services to the mass market and the highest bidder wins – you find the true market value. That said, we want you to get caught up in the excitement of bidding. Your approach should really be very basic: set your price and be prepared to stop. It is very important to do your research. And don’t be frustrated if the bidding goes too high, just carry on to the next. You’ll find out soon enough if you have underestimated the value.”
Ron Sekura – co-owner of Secure Auctions and past-president of the Auctioneers’ Association of Alberta, Edmonton

Stress Your Strengths
“I would say that non-price-related factors are the most important part of 99% of most of the bids we participate on. Once we have established that our bid meets all requirements, we can explain what we offer that should have a significant impact on the decision-maker: local support throughout all communities in North America, in-depth service, support and training. Our bid success rate is in the 90 percentile, but whether we are successful or not, we make a point of understanding other bid submissions. We ask our customer what led them to the decision so that we can learn from each of them. Not to downplay the work that goes into the bid, but I would suggest that the real work starts once the decision is made.”
Patric Nagel, vice-president, North American sales, Smart Technologies, Calgary

Play in Fair Arenas
“The most important aspect of the bid management process is that all bidders must be treated equally. When a project is put out for tender, everyone must have access to the same information. From a bidder’s perspective, the value of bidding is a transparent, fair and equitable process. Bidders themselves should do their due diligence so they don’t waste their time and can focus on projects they’re likely to win. For example, they can ask the number of other bidders, how questions will be handled and when they will be answered.”
Alice Reimer, president and co-founder, and Carey Houston, vice-president of marketing, Evoco Inc., Calgary

RELATED LINKS
Action Plan in Print, Part 9 of 10: Win the (Bidding) War
Bidding for a contract or customer is a fact of life in many industries, including real estate, advertising, construction and engineering. But if you aren’t accustomed to competing for business, the process may seem daunting. And so it should; it is one of few instances where the winner may ultimately be the loser. Here’s how to keep your head and win the job (or recognize when it’s time to fold). More >

Changing the Corporate Mentality