Business Development “Easy-Peasy RFP…sy” on *Mike & Blaine
- Business Development “Easy-Peasy RFP…sy” on *Mike & Blaine Mike Milan & Blaine Bertsch 54:43
In this episode of Mike and Blaine, Mike Milan sits in for Mike Milan while Mike is stranded in Denver. Mike and Blaine dive into the oft-dreaded topic of RFPs. Are responding to Request for Proposals an effective tactic for business development, as Mike contends, or the greatest scourge on small businesses since they were invented by the devil, as Blaine contends? Tune in and find out!
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Show Notes
In this episode of the Business Beer and BS podcast, guest host Michael Milan and co-host Blaine Bertsch discuss the topic of Request for Proposals (RFPs). They share their experiences with RFPs in their respective industries and discuss the challenges and strategies involved in responding to RFPs. They emphasize the importance of Relationships, communication, and understanding the needs of the client when navigating the RFP process.
They also touch on the fairness of RFPs and the impact of external factors such as supply chain resiliency and market conditions. The episode concludes with a lighthearted discussion about their friendly rivalry and the tradition of exchanging a decanter of whiskey based on the outcome of a football game. In this conversation, Blaine and Michael discuss the process of responding to Request for Proposals (RFPs) and share insights and tips for success.
They cover topics such as the importance of understanding the RFP requirements, the value of building relationships with decision-makers, and the need to differentiate yourself from competitors. They also discuss the challenges of pricing and discounting, as well as the post-approval assessment and follow-up after submitting an RFP. Overall, the conversation provides valuable advice for anyone involved in the RFP process.
Takeaways
- Responding to RFPs requires careful reading and understanding of the specifications and requirements.
- Building relationships and maintaining open communication with all stakeholders can be crucial in the RFP process.
- The fairness of RFPs can be subjective, and the optics of fairness may not always align with reality.
- External factors such as supply chain resiliency and market conditions can impact the RFP process.
- Building relationships with decision-makers and key stakeholders can give you an advantage in the bidding process.
- Differentiating yourself from competitors by highlighting unique value propositions and addressing unasked questions can make your proposal stand out.
- Pricing and discounting should be carefully considered to ensure profitability and avoid a race to the bottom.
- Conducting a post-approval assessment and learning from both successful and unsuccessful bids can help improve future proposals.
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