Using Proposal Management as a Business Development Strategy
Proposal management services can be invaluable for contractors who seek additional opportunities in the public contracting sector.
By integrating the processes of managing opportunities as well as bidding and proposals into the overall business development effort, you can improve your capture rate and propel your company toward increased growth.
A professional proposal management services firm can help you identify the most relevant opportunities, track and evaluate them, and when the time comes, develop a winning proposal package.
What Is Business Development?
In any business — but especially in the contracting sector — business development refers to the process through which you identify and pursue opportunities that will enhance your brand and portfolio as well as drive revenue.
Business development goes beyond the specific goal of landing new work. Instead, this process involves all your efforts to establish relationships, build your brand and identify and pursue opportunities.
Developing your business involves establishing a pipeline of opportunities that extends for months or even years, ensuring a steady flow of jobs that will not only meet your revenue goals, but that will help you grow your company according to an established business plan.
Proposal Management as a Part of Business Development
Proposal management is a critical part of the business development effort for every contracting company, no matter its size or capabilities.
A professional proposal manager will assist you in identifying a pipeline of qualified opportunities. A proposal manager will help you evaluate each opportunity, typically through a bid/no-bid analysis, to determine whether it is a worthwhile pursuit at a given time.
For any opportunity deemed worthwhile, your proposal manager will assist you in whatever efforts may be necessary to win it, including the development of a compelling response to a solicitation.
How Can Professional Proposal Management Help Grow Your Business?
Are you turning away business because your company is succeeding beyond your wildest expectations? Are you at least meeting — or exceeding — your goals for growth? Are you operating at full capacity?
If not, it may be time to look more closely into why not and what you might do to improve your hit rate on the contracts you pursue.
A professional proposal management service can help you identify opportunities that are more closely aligned with your capabilities, and show you how to improve your capture rate on the projects you pursue.
Small to medium-sized contractors frequently try to handle their bidding and proposal submission on their own. But with so many other pressing priorities and tasks, they may lack the time and experience necessary to make it happen. Proposal managers specialize in helping you identify and pursue only those contracts that best fit your business model. Through applying their unique skillset, they can guide your business in creating all the elements necessary to submit the winning bid package.
With more than 1,000 proposals produced at a value exceeding $20 billion, Meridian West Consultants has helped contracting firms of all sizes, scopes and specialties obtain their growth and expansion goals. Contact us today to learn how our opportunity tracking, bid/no-bid analysis, proposal management and content management services can transform your business development efforts into a successful, growth-oriented process.