It’s amazing how many small businesses are not aware of contract bidding opportunities or how to find them via the Internet. No business owner starts a business with the vision of having it fail. Don’t let looking at other revenue options only occurs when the business is already failing. As long as money is coming in the door and cash register, an enemy called complacency sets in quickly. Don’t let your business be another victim of failing to think outside of the box. Finding and pursuing contract bidding opportunities is a critical component to business sustainability.
Action Steps for Success in Finding Contract Bidding Opportunities and Winning a Bid:
Step 1: Register with all local, county, and state bidding agencies that would likely purchase your services or products.
Step 2: Think outside of the box. If making a living with your business is not limited to your state’s borders, consider subscribing to a national bid alert service.
Step 3: Read the local legal advertisements daily. In the legal section of local newspapers. you will find many bid opportunities.
Step 4: Do not use a post office box for your business address. Agencies want to know where you’re located and you have a higher chance of winning a bid with an actual street address. Use your office, home office, or a rented mailbox address for all bids.
Step 5: If the bid letting agency offers the opportunity for submitting questions or attending a Q & A workshop, go! Meeting a procurement officer in person can give you and edge in the bidding process.
Step 6: Even If you bid and don’t win a contract, maintain contact with the procurement staff. A lot of new business can come from sole source contract awards. If the “go out for bid” minimum contract is $5,000 and you bid $4,999, you can avoid the bid process and position your business for a sole source contract award. Yes, $1 can make a difference!
For additional ways to build sustainability, check out the book A Guide to Sustainability for Small Business