Ask yourself, are your construction bids being won? Are you winning enough bids? The first inquiry that might lead you to answer the previous ones is: “what are we doing wrong?” You have the expertise, the proper team in place, and the determination to get the task done efficiently on the initial attempt. However, you will not obtain as many bids as you want if your building plans fall short or miss the target. Evaluating the bidding and proposal process can help you improve your strategy and increase your chances of winning the best projects and clients.
The bidding process takes the following path: A general contractor will divide a project into packages, such as plumbing or mechanical, and ask subcontractors to bid on particular elements of the job specified by their expertise. Understanding the construction bidding process is vital for everyone involved since a general contractor frequently subcontracts out these critical project pieces. In addition, the bidding procedure helps owners and general contractors to locate the finest potential team for the task at the most reasonable price. On the bidding side, being able to construct an attractive and accurate bid increases the probability that you’ll have plenty of projects coming in and that your unique talent will be able to be exploited from project to project.
One of the most common queries regarding contractor job bidding is how can the contractor acquire more bids? Whether you use BIM-enabled projects or are aiming for more significant, more profitable projects. Bidding on more projects might be the incomparable hack to be provided in that case. However, that provided hack leads to high costs and personnel to get the job done properly. Here’s how to get more bids without devoting all of your time to it.
1) Increasing your bid volume.
Increasing your bid volume is the key to earning more jobs. You may triple your bid volume and speed while lowering your overhead costs by utilizing cost estimate services. You may be wondering about higher costs by bidding more to increase your volume. Nonetheless, using a building cost estimation service is one alternative that has grown in popularity which can save you enough time and assist you with your target. The estimating service only gives you cost estimates when you need them, and you can still hire a dedicated in-house cost estimator for a fraction of the cost.
2) Know your competition.
Stepping in before your competitors is a simple method to receive more construction bids. Keep an eye out for construction bidding marketplaces to build a profile and locate jobs ahead of time. Know what criteria your competition will use when bidding on a project so you can offer more to the table. This implies that your offer should be about more than simply the price. Essentially, it would be best to persuade them that your offerings are superior.
3) Highlight your qualification.
We all know that project owners seek the lowest price when it comes to selecting the winning offer. However, customers want to see more than just the pricing, scope of work, and conditions. They look at your qualifications and your abilities to accomplish the job. They assess how well you provide your service. They prefer working with contractors with a strong reputation and with whom they can build a good connection for future projects.
4) Aim for accuracy.
Stop estimating building projects by guessing or utilizing out-of-date paper books. You risk not only losing to a more accurate proposal but also underbidding your labor and supplies and losing money on your project if you recycle outdated data from an earlier estimate. Reduce the cost to emphasize your thought process in equipment allocation and material pricing. It’s all about putting a potential customer in the appropriate frame of mind. Prospect owners are also required to know what kind of return on investment (ROI) they’ll get from working with you. Make sure you have hard facts to back up your information. Case studies are an effective way of breaking down data.
5) Bid to win.
This involves figuring out what you’re excellent at and bidding solely on those projects. You can’t be perfect at everything, but you can be exceptional at something. Assess your capabilities and decide which type of project with which size would be more manageable for you to work on professionally. Whichever your choice might be, consider the history of projects that your team has worked on before, which have resulted in successful bidding.
6) Technology can be your ally.
The correct technology may help you keep construction expenses under control while also increasing your team’s productivity during the estimation pre-bidding process. It can also help improve communication between the field, the office, the operators, the subcontractors, and the executive team. You can handle communication and tasks from anywhere with mobile apps.
7) Understand the scope of work.
To avoid wasting time, contemplate the size of the project to fathom the amount of time, effort, and cost that it might need. Estimate the possible labor required, the start of the project you are bidding on, and make sure it isn’t clashing with one of your current or upcoming projects—primarily if your capabilities won’t assist you with shifting focus. Also, understanding your type of client and the quality they require is essential in winning your bid.
The construction bidding process is competitive and complicated nowadays. When it comes to winning projects, using the techniques above might help you get ahead with your progress. There’s a lot more you can keep under your sleeve to make you win as many bids as it can be. Contact us to be assisted by one of our engineers if you’re interested in our services or additional consultations.
