Bidding Strategies: A Project Owner’s Perspective
The key is not the will to win…everybody has that. It is the will to prepare to win that is important.
Bobby Knight
A tale of two bidders
There are at least two mindsets to construction bidding. The first is the bidder who uses the shotgun approach – fire at everything and see where the buckshot hits. The second bidder is strategic, selective, and researches which projects are the most feasible to win. Both can result in a win; however, the first will likely experience far more misses and log more bidding hours that take staff away from other important tasks. Perhaps most important from an owner’s perspective, the first mindset could give the appearance that this company will go after anything, regardless of the best fit and capability to do the work.
High ceiling in the construction market
The good news is there will be construction work to target. According to Dodge Data & Analytics 2020 Construction Outlook presented earlier this month, the construction environment will be positive for institutional and public works sectors for the upcoming year.
In addition, large capital programs like the $45 Billion Rebuild Illinois Capital Plan, have begun to see some of the first major projects rolling out right now. This is particularly encouraging for small and underrepresented contractors interested in public sector work as diversity programs at the city, state, and federal levels are indicating that their arms are wide open for MWDVBE companies to participate.
Be in it to win it
Knowing all of the above, even when MWDVBE goals are present on a project your award is not a given. There will be no one standing at the door handing out vouchers to pick up your pass and wave you to the job site. You still have to win the bid first. In fact, the competition will be great, even among MWDVBEs. Be prepared to put your best foot forward to impress those who are in control of making the decision on awarding you a contract. Will you come to the game like our first bidder, ball in hand and flail it through the air for whoever is there to catch it? Or will you be like our second bidder, come to the game properly equipped and prepared with a secret playbook ready to win?
The secret playbook
Through research, interviews, and past experience as a representative for major project owners, Coleman and Associates, Inc. has rounded up the problems that put most contractors at risk of losing bids and will be unveiling secret strategies to help you win more bids at our upcoming webinar Insider Secrets to Unlock the Mysteries of Bidding Success on December 12, 2019.
You’ll learn:
- How to prepare a bid that is responsive and responsible
- Things you must do upfront before even submitting a bid
- Whether bidding the project is right for your company
Winning bids is the lifeblood of successful contractors so don’t miss this special peek into the decision-making process for your next award.
Join our webinar on December 12, 2019 at 11:00 am CDT to put yourself in the best possible position to walk away the winner of a higher percentage of bids than you have experienced in the past.