Is using a proposal management service better for your company than hiring an employee dedicated to business development?
Many contractors, especially smaller and younger firms, believe that it makes more sense for them to hire an employee dedicated to business development. But does it?
Although you must ultimately make the decision you feel most comfortable with, consider the risks and rewards of each option.
The Cost of Proposal Management Services vs. an Employee
You may believe that a professional proposal management and business development consultant would significantly increase your overhead, versus the cost of bringing a business development employee on board.
If you hire someone with strong skills and the right experience, you can expect to pay well into the low six-figure salary range, plus benefits. And as with any employee, you never know how good the fit may be or when they may decide to move on to one of your competitors.
If you hire a less-experienced staff member with the intent of training them, you will have to invest a significant amount of resources into their development.
Training and Oversight vs. Ready-Now Professionals
Training a new employee to handle business development will require an investment of both financial and human resources. A novice could make costly mistakes that may damage your reputation or leave you on the hook for an ill-prepared approach. And once you’ve made a significant investment, your junior staffer may jump ship for a better offer.
Using a professional business development and proposal management service provides a plug-and-play team of experts and a reliable level of consistency, year after year. When you choose a consultant with demonstrated success in identifying appropriate projects and submitting winning proposals, you’ll never have to give a second thought to your reputation or business development efforts.
Free Yourself to Focus on Your Core Business Objectives
As your company grows, you understand the need to outsource some key functions of your business, because you won’t be able to do it all yourself. Making the right choices in how you hand off these critical areas of focus can affect your future as well as that of your team.
If you’re already feeling pressure to focus more on the contracts you have underway, hiring someone to handle your RFPs and pre-qualifications could very well divert even more of your focus.
The right proposal management service can quickly pay for itself in opportunity tracking, winning new contracts and in helping you avoid projects you shouldn’t spend time on.
Meridian West Consultants provides a suite of professional business development services tailored to your company’s individual needs and objectives. We also offer both an hourly and a monthly fee structure. Contact us today and let us show you how our proposal management service can help you grow your contracting firm.