How to Bid on Business Contracts

While word-of-mouth and advertising are common ways to promote a business, you may need to eventually bid on a business contract. Most businesses require a written "estimate" outlining costs and services to compare with other vendors. While it takes some research, giving prospective clients an outline of your services, as well as a complete project estimate, can win the current job and future business, too, as your reputation grows. Regardless of what type of business you bid on, the principles to score the job are the same.

Suggestions

1. Research the company to which you are submitting a bid; making sure they are financially solvent, a wise move on any large projects, such as construction. The Better Business Bureau (at BBB.org) can give you an idea of any customer service issues and how the company has responded, should a problem arise on the job. The local newspaper may have prior articles that explain how the company has handled other job bids and vendors. If possible, speak to others who have had business contracts with the company to see if it was a positive or negative experience.
2. Discuss the project or contract with the person who will be overseeing it rather than a paid service representative. Understand what the company wants and needs from you. Inquire about the budget before writing up the bid. If the company's expectations are unrealistic, you will need to detail specifics if you still wish to bid on the business contract.
3. Write as complete a bid as possible, including labor or staffing, materials or supplies, gas and/or mileage and equipment needs. Be thorough. Do not lump everything together under one price. Instead, list individual items so that these can be negotiated with the company if necessary.
4. Present proof of your abilities and successes to the potential client to show why you are the best choice for the business contract. This can include a list of your current high-profile clients, jobs completed, references or testimonials.
5. Follow-up with the person in charge of the bidding process, waiting an appropriate time after your bid is submitted to call and make sure it was received and that the bid is being considered. Ask when you can expect to hear back about the company's decision. If that deadline is not met, call again to let the company know you are still interested in obtaining the business contract.

Tips

• Try to build friendly working relationships with the individuals in charge of business contract bids. While you may not win one particular job, staying in touch to ask what the company needs and doing so in a sincere, friendly manner may win you a future job.
• Underbidding on a business contract may get you the job, but will create other problems. Either you take a loss on the project to win future business or add to the estimate later, upsetting the client.
• Avoid being pushy or overbearing when you follow up on the status of the bid. Companies that sense someone may be difficult to work with will probably choose someone else.

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