5 Tips for Submitting a Successful Bid

If you’re feeling the pinch from the competitive and crowded construction field, we can all agree that a bit of preparation and thoughtful strategy will go a long way. According to the Bureau of Labor Statistics, only 36% of construction businesses last ten years or more.

These five tips can help you put your best foot forward in the bidding process and help make the difference between bidding success - or failure.

1. Land More Quality Leads

Submitting a winning bid starts with the quality of the projects you plan to bid on. The good news is that there is more than one place to connect and find leads worth your time.

• Construction Leads Services provide the most up-to-date project data, which you can review at any time.
• Maximize connections through your ITBs and have a direct link to your possible next job through networking.
• Over the last three years, approximately 20% of construction contracts have been awarded to minority-owned and women-owned businesses. If your business qualifies, lead searching on government bidding sites
• Consider joining a local trade association to gain access to industry networking events that could land you fresh lead contacts in your area.

2. Make the Call to Bid or Not

After finding your leads and gathering your data, it’s time to decide whether entering a bid makes sense for your business. Don’t waste a moment of your time if the answers to these questions don’t add up.

• Do you have the financial resources to complete the work?
• Have you clearly defined and understood the scope of work?
• Did you thoroughly review the project requirements?
• Have you met the contract obligations and reviewed them in full?

3. Leverage Digital Takeoff and Estimating Solutions

Mistakes with your takeoff and cost estimates could be a dealbreaker for your bottom line. ConstructConnect has integrated software tools that provide the best chance to win the right work and maximize profits through accurate and time-saving solutions.

Digital takeoff solutions can help:

• Review, rename, collect, and analyze project documents.
• Access templates to measure repeated rooms, floors, and areas.
• Calculate takeoffs for a variety of trades.
• Customize your proposals and quotes.

4. Prepare a Winning Proposal

There is no time for errors in the construction business. The proposal you submit should be thoughtful and custom to the prospective client. As stressful as this sounds, it doesn’t have to be! If you’ve done your homework, a simple checklist, and another set of eyes to double-check your work should help bring everything you need together.

Follow these guidelines before you submit your proposal:

• Budget for any contingencies that might affect your bid price.
• Double-check your estimates.
• Make sure you’ve submitted all documents.
• Be mindful of the timeline for submitting your bid.

5. Download our guide, Winning More Profitable Construction Projects

Refer to our newest eBook for tips to help you navigate the road to your next project. In this step-by-step guide, you can pull a strategy together to land better quality leads, the most up-to-date data, and more accurate estimates.