Small businesses would love to win that federal bid. Unfortunately, when big, fancy corporations raise their hands, it can make you (as a small- or medium-sized business owner) feel like the “Homer Simpson in the bush” gif. Luckily, you don’t have to let responding to federal RFPs intimidate you! At The Bid Lab, we’ve helped…
Did you know the government spends over $500 billion per year on goods and services? What’s more, they also spend money to fund many different operations and stimulate growth. Basically, a significant percentage of these dollars are given out via open procurement processes, which include Requests for Proposals, or RFPs. The catch is that with…
A Request for Proposal (RFP) is a business document. Organizations publish RFPs to solicit proposals from potential vendors for a particular project solution. The RFP specifies what the entity is looking for and describes the criteria for evaluating the proposals it receives. To read more about “What Is an RFP?” click here. The purpose of…
Writing a great cover letter can be an overwhelming experience. Much like the intimidation of the blank page, the pressure of ensuring the cover letter is perfect can make even the most seasoned business owners feel like a ‘noob.’ When tasked with drafting a cover letter, you end up stuck with a serious case of…
As technology advances, so does the data we produce. Unlike our ancestors, we’re now capable of creating photos, videos, text files, and other forms of data all on our own. This has led to the rise of what we now call Big Data. Companies are among those who benefit from Big Data the most. Data…
When the Legislative Council of Orem, Utah, tapped a newly formed and inexperienced firm for a feasibility study on splitting a local school district, the decision sparked controversy. Because of this concern, local constituents filed a formal complaint with the Utah State Auditor’s Office. Though the auditor ruled that the Legislative Council broke no laws,…
We all know what good writing is. It’s the novel we can’t put down, the poem we never forget, and the speech that stays with us forever. Good business writing is the memo that gets action. It’s also the report summarizing new knowledge and the company presentation that inspires a new policy. In this article,…
Great news! You found a public sector bidding opportunity that aligns perfectly with your business strategy. However, there’s an obstacle between you and that award — the incumbent. Given that incumbent win rates range from 60% to 90%, it can feel like your chances of winning the RFP are as good as finding a pearl…
Even the most efficient business leaders can’t respond to every targeted bid themselves. There’s too much work for one person to do alone. From finding strategic bids to helping grow their business to writing, editing and designing winning proposals — plus everything in between — teamwork is key to building a winning bid. It’s time to build…
Competing for public sector contracts is no easy game. While it’s typically simple enough to start locally, the fact is that the higher the agency level, the harder the barriers to entry become. And, frankly, participating in federal procurement has historically been based on being a difficult endeavor. This is especially true for small to…
