Does it make sense to bid cold?

What is bidding cold?

Bidding cold is the process of submitting a bid or proposal in response to an opportunity that you only know about because the government is required to notify the world that they are seeking offers on

Why it matters?

If you are new to GovCon, or if you haven’t spent the last 9 months, at a minimum, researching agencies that need your products or services, you find yourself waiting and watching You do this because you know the statistic that most GovCon spending happens between July and September.

You’ve probably heard the conventional wisdom tells you that bidding cold is a long shot and not a strategy. I agree – it is a long shot. But I’m also a realist. So I know that many of you will be tempted to go for the win. So let’s talk about what you can to do to improve your odds that your roll of the dice will pay off.

So, I repeat, does it make sense to bid cold?

Maybe. Like most business decisions, it requires you to do some fact-based analysis.

  • Can your company really deliver what the agency says they want in the manner that they want it?
  •  Can you or someone on your team write a compelling description that clearly conveys HOW I the company can deliver?
  • Can the company PROVE they’ve done this before, preferably for the government, but definitely for some organization that is of the same or similar size?
  • What (if anything) does the company bring to the government that no other company offers?
  • Can your team write a proposal that follows the directions AND answers their evaluation criteria?
  • And don’t forget – can your team offer your solution at a price that is low enough to win but not so low that it won’t really be worth the time.

My Advice

Whatever you decide my best advice is don’t bid cold unless you can put together a credible proposal that won’t make a less than favorable impression. 

Know that if you do decide to go ahead – you are in good company. Many successful GovCon companies use this strategy from time to time for a variety of reasons. If you’d like to talk about whether you should bid cold message me via LinkedIn. Or ask your questions and hear from folks who no longer use bidding cold as the business develop strategy at our workshop on July 1. Learn more here.

And if you are that company that has done the research so that you are not bidding cold but need a little help with either proposal training for your team click here. Or are looking for a few outside proposal experts, send me a message.

Happy Q4!

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