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THE IMPORTANCE OF HAVING A COMPLETE BIDDERS LIST

Construction contractors get the majority of their jobs by bidding on projects.
While builders often get training or mentoring in construction skills, they
usually learn about bidding and how to develop a winning construction bid on the
job and experience painful mistakes along the way.

 



 

While it goes without saying that starting with highly accurate cost estimates
and submitting the lowest bid of all the competing contractors is the key to
success, in this post, we’ll unpack how to increase your odds of winning.

 

How many other companies are also bidding?

Knowing how many companies you are up against is extremely important and a
complete and accurate bidders list will give you that information. Let's face
it, if there is a huge bidders list with dozens of competitors the winning bid
will probably result in a low-ball number. Is it worth taking your time and
resources or perhaps best to sit this one out? Knowing how many companies you're
up against helps prevent bottlenecked company growth. If you do in fact decide
to pursue, at least you'll know that you need to sharpen your pencil if you want
to have any chance at winning.

 

Who is bidding?

Besides knowing how many companies you are up against, do you know specifically
Who your competition is and how they typically bid? Knowing who you are up
against and how they bid on similar projects in the past will give you the
advantage that you need to make an informed decision on your bid. 

Having in depth knowledge of your competitor's bid history - Is there a
"Low-Baller" on the list? Knowing this could help you decide to not bid at all.
Let's face it, there is a cost of time and money for each job you bid. If you
are going to pursue, at least you know going into it that you'll have to go
lower to have a better chance of winning that project. 

 

Bidding to all the GC's.

If you are a subcontractor, a complete bidders list could help you see all the
General Contractors bidding on a project. 

Think about how many times you get a call from a GC asking for your numbers for
a project they are bidding. What happens if after spending a couple days putting
together your bid and submitting to that GC if they don't end up winning the
project? Or they decide to not even bid? How does that impact you? You did all
that work for nothing, thats how! If you knew ALL the GCs that were planning on
bidding, you could send your numbers to the entire list. One of them is going to
win and guess what? You just bid to the Awarded GC and greatly increased your
odds of winning!

Bidding to all the GC's gives you the advantage over a subcontractor who doesn't
have all the information. You want to make sure that all the bidding GC's have
your bid which helps to increase your chance to win the job.

If you are a supplier and sell to subcontractors, a complete bidders list is
key. Sure your sales team could just cold call and see if contractors have a
need for your products but what if your team knew whenever a potential lead
attended a pre-bid meeting, picked up a set of plans or was announced as the low
bidder? Salespeople are great at adding wood to the fire but many of us forget
to add oxygen. Reaching out to the Right Company at the Right Time provides the
oxygen your teams needs to grow.

 


LEARN HOW DATABID DOES ALL THE LEGWORK
CHASING DOWN BIDDERS LISTS, BID RESULTS AND
AWARDS SO YOU CAN FOCUS ON YOUR CORE BUSINESS

 

 

A few more tips to improve your chances:

 

 - Know what your strengths are and what sets you apart from other Contractors.

 - Brush up on your marketing skills by knowing who the decision makers are what
their biggest needs and problems are and address those needs. Keep an eye out
for upcoming jobs and forward valuable leads to the GC's you have a relationship
with. 

 - Opening and responding to every "Invitation to Bid" as quickly as possible is
important. Let the GC know if you're bidding. If they don't get immediate
response to their bid invitations, GC's often message more subs which will
increase your competition. Review the bid invitation closely to make sure the
project is located in an area that you service, that you have enough time to
prepare a quality bid and that you're qualified to install the products
specified. 

 - If the GC conducts a pre-bid meeting, make sure that you attend. This shows a
commitment to bid that the GC will appreciate and helps you form a more personal
relationship with him to give you a more competitive edge.

 - Referencing a vendor's past bids and performance notes can lead you more
quickly to final pricing and a more confident decision. Make it a policy to
track whether vendors submit their bids on time, whether the spread between
their original bid and final price is acceptable and how easy they are to work
with.

 

 

 

Posted by Jim Lamelza

Need the details on a specific Project or Company?
 
See how DataBid can help your company find projects and increase your odds of
winning.

 

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