3 Tips on How to Land a Bid

Four people discussing how to land a bid

Bidding is an essential part to contracting, but we know it can be incredibly frustrating. You put all of this time into telling someone why you would be the best fit, just to be turned down or asked to lower your prices. With today’s economy, this process may have become even more difficult and disappointing. Don’t let yourself get too down; there is still hope out there. Here are 3 tips on how to land a bid.

Treat bidding like a resume.

You’ve probably heard this advice a thousand times: tailor your resume for each job you apply for. Well, the same goes for bidding. Each time you submit a bid, you want to make sure you’re tailoring it for that specific project. It may mean more work on your part, but it also gives you a better chance of also landing the bid. 

That being said, you don’t have to create a completely new bid for each project. Like a resume, you can have a boilerplate or template you use for most of your bids. You will just want to make sure you adjust this so you’re really hitting on the key points for that potential client. 

Stick with your strengths.

When work is slow, it can be tempting to bid on anything and everything you come across. This is not the best method. If you bid on everything, you will likely be wasting your time. Plus, if you’re spending time on bids you likely won’t get, you may miss the opportunity to bid on something that fits your strong suits. Evaluate or re-evaluate your team’s skills, and only bid on projects that fit those skills. While you may not be bidding on as many projects, you will have a better chance of landing a bid.

Keep track of your wins.

One tip you may have overlooked is keeping track of your wins and losses. You should have a spreadsheet or some other way to track everything you bid on. Within this spreadsheet, keep track of your win rate over a period of time. While this may seem like work for after the fact, it can actually help you land a bid. These win rates will show you if what you’re doing is working. If your win rate is high, keep doing what you’re doing. If it’s low, re-evaluate and switch it up. When you get down, this is the best way to see your success.

Delegate some paperwork.

As you can see from these 3 tips on how to land a bid, you’re going to want to prioritize your time to master the bidding process. In order to do that, you need to delegate some paperwork to someone else. Let that someone else be HFS Financial. HFS Financial can help you offer the best contractor financing for customers. Your clients just have to fill out a quick, 60 second application, and we’ll fit them with the right loan. This will save you time from helping clients with financing yourself. It will also help in negotiating prices with them, because we make it so easy for your clients to find the financing they need to get the job done right. Give us a call today at 1-800-254-9560 to get started helping your clients finance their dreams. “You Dream It, We Finance It.”

3 Tips on How to Land a Bid

HFS Financial solely operates in the home improvement lending space which means we can confidently say that we are THE HOME IMPROVEMENT LOAN EXPERTS. When you apply at HFS Financial you will get a customized loan experience tailored to ensuring you get the best personal loan to meet your home improvement loan needs.