Smart Bidding Strategies

Smart Bidding Strategies 

First, you need to assess your track record as well as your crew. This is an essential part of crafting your strategy for increasing profit. Start by answering the questions below.

1. What is our bid/win ratio? What do I consider to be the ideal ratio?
2. How do I use my bid/win ratio during prospecting for new projects?
3. What types of projects does my crew have the most success completing because of their current skillsets and expertise?
4. Looking at our project history, what types of projects have been the most profitable? (Consider who the client was, project size, location, and public/private.)
5. How long does it typically take to build an estimate? Do we need to improve this area? (If yes, how can we improve)
6. How often are we too high/too low on bid numbers?
7. Have I determined the margin I need to hit my overall overhead and profit goals?

By answering these questions about your business, you will learn a great deal about where your crew should invest their time and efforts. You may even learn there are certain types of projects that your company rarely ever wins. We can help you with that so fill out the form at the bottom of the page and let us Charter Estimating help you with your winning more jobs with Smart Bidding Strategies.