An RFP (request for proposal) is a document that solicits proposal (often made with bidding process). Thus, it is made by an agency or company interested in procurement of a service or commodity.
If you saw the last RFP video in which I explain if you should complete RFPs, you know we spent 6 months crafting over 200 RFP responses for exactly $0 in new business.
In this interview, we talk to Tony Corrigan, the CEO of TenderScout. His company focuses on writing RFPs that actually get business, and he says – at a minimum – agencies should get a 30 % close rate on RFP responses. And, he shows us how here.
Close More RFP: Full interview with Tony Corrigan, CEO of TenderScout
What have we learned with Tony today?
When it comes to talking about RFP, Tony agrees with the fact that huge companies such as Intel or IBM will surely destroy competitors.
However, there’s a key opportunity about RFP and it’s their low usage across companies. Also, in general, people its predisposed to this kind of practice. Then, what should we focus on when doing RFPs?
- You need to hire someone with high-level skills to make the RFP, namely, wide knowledge in government practices, excellent management, and low risks procedures.
- A deep research about high winning rate companies must be conducted, so you can mimic their main characteristics and increase your chances.
- You must be willing to spend around $6000 in RFP. According to Tony, if you aren’t up to that, then forget about any winning opportunity.
- Go and talk in person with the companies. What’s most important is the image you project to them.
In the video, Tony also addressed some crucial points that we must consider in the process. We made a list out of them:
- Is your quality rate system configured with the highest standards?
- Are the government structures safe?
- Will support be provided along the RFP process?
- Will you be ready if something unexpected shows up?
Tony and I realize that this isn’t a pleasant methodology, but since there are few companies doing RFP nowadays, success chances are increasing and we shouldn’t discard this opportunity.
What do you think about the interview? Did it work at all?
You can leave your comments below or on our YouTube Channel.
See you next time!