Monthly Archives

July 2017

Business

4 Essential Tips for Tendering Success

July 27, 2017

The UK government plans to spend close to £15 billion on small and medium enterprises. Part of this sum will be in form of government work. Bidding government tenders is a great opportunity for small business owners to improve their visibility and grow their businesses. Unfortunately, many of them make mistakes in the tendering process and get negative results every time. What does it take to win tenders? Here are some tips you should consider when bidding for the next tender.

1. Be Realistic when Choosing Tenders

Most business owners consider the value of the tender when choosing tenders. In fact, tenders with high amounts attract a larger number of applicants. If you are applying for your first tender or running a small business, you may not qualify for such big tenders. You may lack the portfolio required to qualify for such tenders. In addition, you may not have the resources and experience necessary to deliver it. Always go for tenders that suit the resources, skills, and knowledge in your business.

2. Prepare Adequately

Start preparing your bid as early as possible. You will forget some important details or you’re your application with mistakes if you do everything at the last minute. It is obvious that you cannot do everything on your own. Assign tasks to your staff early and give them strict deadlines. Collect all the documents you may need like business certificates, financial statements, CVs of staff members, and evidence of past work. Check the progress of each assigned task to ensure that all tasks are completed on time. If you’re still struggling, try this article for some basic tips.

3. Consider the Buyer’s Need

Winning bids are focused on meeting the buyer’s needs. Before you start filling out your application, identify the needs of the buyer. Your application should show how your business will meet those needs when awarded the tender. Do not rely on the information given in the tender documentation. Conduct a research on the company’s goals and values from other sources. The additional information will help you answer the questions and prepare an application that paints a clear picture of how your business can solve the buyer’s problems.

4. Ask Others to Proof your Application

Check your application several times to ensure that all fields are completed with the right information. If you have not written an application before, it is advisable to work with a bid writing company like Executive Compass and learn how to do it right. You will pay a small fee but it will increase your chances of winning the tender. Ask other staff members to proofread your tender bid before submitting. Check if all requirements are met such, as the specific number of copies of certain documents and signatures. If you submit your application electronically, follow up to ensure that the relevant office or authority received it.

Conclusion

If you have applied for several government tenders unsuccessfully, you need to recheck your approach. Before you give up or blame the size of your business for your failures, identify your mistakes and learn from them. Ask questions and request help from experts in tendering to increase your chances of winning your bids. Work with an elaborate plan for each tender and be realistic about the resources and capabilities in your business. You will start receiving positive feedback on your bids as you continually refine your application process.

 

Business

4 areas of your business that could be improved by online technology

July 25, 2017

If you are trying to grow your business, or are hoping to maintain your current level of success, it is important that you are constantly thinking of new and creative ways to do this. If you are struggling for inspiration, the internet is a great place for you to start. Incorporating the online world into your business plan can be extremely beneficial. It shows that your company can keep up in the digital age. It can also help to save you money and time. Below are four areas of your business that could be significantly improved by you taking the time to look online.

Business Initiatives

In business, it is vital to stay one step ahead of your competitors. One way that you can make sure to keep your finger on the pulse is by setting up Google alerts on your field in the industry. Keep up to date with any topical stories or impressive innovations that would work well in your organization. You could also dedicate a set amount of time each week to researching online advice from successful entrepreneurs. Why not look up interesting TED talks and arrange a viewing for your staff? This will save money on having to pay for a guest speaker to visit your offices and will help you to inspire your workers.

Human Resources

Whether your business has an entire human resources department or relies on a few dedicated employees, it is important that you are providing your staff with everything that they need in order to be successful. Have you ever considered human resources software? This is an easily configured online self-service system that will help to propel your human resources to the next level. A savvy entrepreneur will know that a brilliant team is the secret to great results. That is why it is so vital to invest in your company’s HR.

Accounts

It is also possible for you to organize your accounting online. This is especially useful for small businesses, as online accounting can dramatically reduce your costs. It can also prevent you from making mistakes and is extremely user-friendly. Don’t worry about security, as with the rise of online banking, it has become the norm for transactions to take place online. If you look around for online accounting software that places emphasis on keeping your finances safe, you and your business should be secure.

Marketing

There has been a constant rise in businesses conducting their marketing online. This can be an extremely effective strategy. While many companies have already embraced the opportunity to advertise via social media, it is important that you don’t just follow trends, but work on setting them. One technique that is predicted to see a huge rise in popularity is online video marketing. If your business can’t afford to create long video advertisements, why not think outside of the box and use Instagram video? Just imagine the impact a viral video could have on your company’s brand. Try to be as creative as possible. The right idea at the right time could be the secret to your business catapulting towards success you’ve only dreamt of!