One of the biggest obstacles for a construction company to make money is the bidding process. This is when a company can grow or it can founder. It all depends on how they get through the bidding process. When they win a lot of their bids then the company can have fewer gaps between jobs and cash flow is less of an issue. Those that don’t win their bids will always be behind.

There are a lot of factors that go into how companies get projects. Unfortunately, the economy is a big influence as is the nature of the jobs that a company does. Since the government always needs roads paved and hospitals built, there is always work for those companies that win these bids. In this article, we will go over how you can set up a winning bidding system.

1 – Embrace technology

There are many software suites on the market that specialize in helping businesses in just about every industry. They are developed with the features necessary for the specific industry the business is in. This way managers can employ technology that will help them streamline their processes.

The construction industry is no different. In fact, there are many different applications that handle things from construction general conditions to helping out with the bidding process. The companies that use this type of software are the ones that generally thrive since they win more bids.

The software streamlines the process so it is faster to get a bid organized and submitted. It takes a lot of the drudgery out of the process by creating templates for the types of projects that you are likely to bid on the most. The faster that bids can be done then the more likely you are to beat the competition.

2 – Deliver value

When putting together a bid package, it has to also take the needs of the client into consideration. Since the client expects a good ROI you will need to make a presentation where this is clearly indicated. They will need to make a decision and when they can clearly understand the value they are getting from your bid then they are more likely to accept it.

Make sure to itemize the material you plan to use, how long you plan to take to complete the project and what kind of milestones you expect to have.

3 – Set goals

You won’t win every bid that you submit but you should have a specific number of them that you expect to. When you have a goal then you have a metric that will tell you if you are on track or if you need to make improvements. When you have a percentage in mind then you will know if you need to change certain aspects of your system since you can see at a glance that something isn’t right. Make small changes incrementally and then see if the number rises or not.

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• Source: Plato Data Intelligence: Platodata.ai