As a growing professional York Region IT services practice, your business development team has probably won several customer contracts, and lost some. In some cases, you made a conscious decision not to pursue some leads.
There are many reasons why services firms won’t invest time and effort to pursue certain business opportunities:
- They don’t have available resources to staff a project within a client’s timeframe
- The firm doesn’t have a consultant with the right skills to meet a set of defined requirements
- A customer’s contract terms aren’t acceptable, or involve too much risk
- Conflicts of interest would arise from working with a certain client
- Winning the business would force the firm to enter a competitive RFP process. Many growing businesses don’t have time or expertise to write, publish and deliver a proposal on time.
Many high-growth services firms in places like Markham and Aurora find ways to avoid these obstacles. They end up winning lucrative contracts by outsourcing RFP proposal management.
Has your consulting firm, digital agency or professional services team passed on too many business opportunities because they need comprehensive proposals, Request for Qualification submissions or Request for Information responses?
Here are three reasons to hire a contract proposal manager, writer or coordinator like Mark Burdon, who is based out of Newmarket.
1. RFx professionals know the recipe to winning submissions
You and your team have worked hard to build a reputation for excellence in your area of expertise. Let’s say you work with banks to help them meet digital transformation goals. You could show healthcare organizations how to leverage technology to meet regulatory requirements. Your IT firm could build SCADA networks for public utilities. In these scenarios, you’re going to need professional proposals to compete and win the business.
Accomplished contract proposal writers and managers have honed their craft through formal training. They are often mentored by industry veterans and thought-leaders. They have learned “in the trenches” about proven strategies by working on other RFPs.
You likely know the “hot button” requirements which are critical to crafting a winning bid. You might have difficulty putting it into words. There is a key resource on your services team who could excel at a services engagement, and deliver exactly what prospect what a prospect needs. It may be a challenge to translate their detailed resume into a compelling bio. A professional proposal manager/writer will communicate your value in these proposal sections:
- Transmittal Letter /Letter of Introduction
- Executive summary
- Proposed Statement of Work (SOW)
- Services agreement terms and conditions
- Financial proposal and projected work plan/schedule
With business proposals, many contracts are won and lost based not on the words written on the pages. It is the presentation and communication of the details. Sometimes, existing customers require businesses they work with to respond to a Request for Qualifications document to continue to do business with them. If they fail to complete it, they get pushed out by competitors who complete the process.
2. The cost of outsourcing proposal management < value of contract revenue
You say your consulting practice isn’t chasing contracts from regulated industries, public sector organizations or crown corporations? A growing number of companies are shifting their procurement processes to RFP competitions. Your business development (BD) team doesn’t have enough time to assemble a bid in time for a one-time proposal. Or your billable consulting practitioners might be wearing many hats, and you don’t have a dedicated BD team. Proposals could be a drain on your team’s utilization. Consider a contract proposal manager as a force multiplier for your BD team.
Hiring a contract proposal writer is less costly than missing out on a business opportunity.
There’s also the cost of diverting billable resources to writing proposals to consider. Many of your practitioners don’t have the writing skill or experience necessary to write a winning proposal. Yes, your practitioners will need to provide input even if you outsource proposal writing.
3. Contract proposal writers know the winning formula
Have you avoided business opportunities in the past which required complex RFI responses? Does the idea of competing in an RFP process make you break out in a cold sweat? Many businesses in the Markham and Richmond Hill technology corridor avoid RFPs because they assume they can’t or won’t win. They may not have relationships with the sort of public or private sector organizations which issue RFPs. Many professional and managed services firms don’t know how to assemble a winning bid. Or, they don’t want to divert focus from ongoing contracts.
When companies are growing fast, their leaders may feel their business isn’t big enough to deliver the scope of business which need bids. For growing businesses, building a library of quality proposals is valuable to curate a repository of reusable content for future RFPs. A contract RFP manager will know how to create repurpose-worthy, quality content, including:
- Transmittal letter templates
- Baseline content for executive summaries
- Quality bios from resumes
- Approach and Methodology content
- Service descriptions and product marketing overviews
- Success stories, case studies and ROI stories
Is your York Region-based consulting business preparing to pursue your first RFP? Are you struggling to create your own proposals in-house? Consider adding Boardroom Metrics to your Business Development team. We’ll write RFP proposals, RFQ and RFI responses to get you shortlisted and improve your odds of landing lucrative contracts.