Seizing the Big Opportunity: Key considerations before pursuing major client wins
Pursuing major clients wins or tenders can be a game-changer in driving business growth and success. But before diving into these opportunities, its crucial for businesses to fully understand the resources this will take, their role in the process and to ensure they are adequately prepared.
Every stage of the tender journey needs to be thoroughly considered – From preparation at the start to ensure they are well positioned to compete effectively, sufficient resources to deliver at every stage of the tender process as well as requirements for implementation should you win!
So, it’s important to begin with a simple consideration – do you really want this business?
In this 90 second breakthrough video, Andrew Milbourn shares some key insights that will help you if you’re determined to try and sell to the big companies.
As Andrew highlighted, there are many pitfalls’ businesses must carefully consider when tendering for big business, and below we share just a few others you and your sales team should consider when looking to seize that big opportunity.
Understanding the competition – Don’t underestimate the competition. Businesses should thoroughly research their competitors and identify strategies to differentiate themselves effectively.
Failure to understand the client needs – Its essential to understand the client’s needs, objectives and expectations. Failing to align your proposal with their requirements can result in rejection or disqualification from the tender process.
Ignoring compliance requirements – Many tenders come with strict compliance requirements that must be adhered to for consideration. If you overlook or fail to meet them, you risk being disqualified from the tender process.
Inadequate resources and capabilities – Businesses must assess their capacity to fulfil the requirements of the tender, including resources, technology, infrastructure and budget. Lack of resources or capabilities can result in failure to deliver on commitments, damaging the business reputation.
Overpromising and underdelivering – It’s essential to be realistic about what can be delivered and communicate transparency with the client. Don’t be tempted to overpromise your business capabilities, as failing to deliver on these promises can lead to dissatisfaction and a strained client relationship.
Neglecting relationship building – Building strong relationships with key stakeholders within the potential client organisation is crucial for success in the tender process. Neglecting relationship building can hinder communication, trust and collaboration impacting the potential outcome of the tender.
Failing to Plan for Post-Win Implementation – Winning the tender is just the first step, businesses must also plan for successful implementation post-win. Failing to develop a clear implementation strategy and timeline can result in delays, cost overruns, and dissatisfaction from the client.
Get in Touch Today
If you want to find out more about how we can help you put a team together and develop the skills and strategy that your sales team need to win those big clients – simply email Andrew directly Andrew@kissthefish.net
