Tender Writing – The Lost Revenue Stream For Your Business?

When you were writing your business plan, did your business advisor or bank manager tell you that you needed a budget for tender writing costs?

Of course not.  Why would they? After all, professional tender writers (well, the good ones at least) should cost you around £500-£1000 a day, even more for highly specialised sectors.  Considering that a tender can need around 7-10 days planning, writing, and evaluating – it is a big cost for a smaller business.

But consider the benefits.  A 7-10 day tender writing exercise is usually warranted for business that will be increasing your income by around £100k (as a guide).

Just like the House Doctor, that investment up front that is a fraction of the overall value when you get the money coming back in.

And just like the House Doctor, if you don’t sell – you find yourself living in a better house because of all the work.  Most business people are astute enough to realise that an expert outsider coming in to their business and reviewing it to see if it is fit-for-purpose within its sector and operating environment.  The cost of that?  Around the same day rate as a business consultant.  Tender writers should be exclusively focused on assessing your business in terms of being able to answer to a tender within your sector, and then presenting it in a meaningful way, that is relevant and defines what differentiates you and your business.

So you get a tender written that can win you oodles of new business, when you probably did not have time to write it yourself or from within your staff team, and you get the inside track on the health of your business and its competitiveness all in one fell swoop.

Sounds like a bargain to me.

When you look at tender writing services as an additional cost to your business, it can look like a high price, but on balance it is exactly the kind of investment that many businesses could be making, and reaping the many rewards associated with that.

The Capable Manager

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~ by TCM on February 4, 2011.

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