What possible use are business networks when trying to win tenders? There are lots of potential benefits.
- Potential Suppliers – so, you’re tendering for a contract, but your Health and Safety Policies aren’t up to scratch. It is highly likely that within many business networks, you will find, or meet someone who can introduce you to, a good health and safety consultant. The opportunity to find people who can work with you on your business to maximise your potential means you can then bid with increased confidence.
- Collaborative Partners – thinking about bidding for a contract, but you haven’t got the capacity to deliver everything yourself? Effective business networking is likely to introduce you to businesses similar to your own. Are they competing with you? Probably, yes. Could you work in partnership with them to bid for contracts that you’re not likely to win on your own? Almost certainly. Approach your competitors in business networking with an open mind, they may just open the door for you (and them) to bigger, longer term clients.
- Potential Customers – are you going to sell your services to people in the room with whom you’re networking? Possibly / possibly not. Are those businesses working with clients of their own. Almost certainly (at least, they are if they’re any good!). Are they able to introduce you to their customers. Well, that will depend on how well you get to know, like and trust them, and them you. If you’re looking for a contact into a specific organisation, ask people. You never know who they know and for lower value tenders, the process may be less formal, they may only need three written quotes for example, in which case having your name and contact details alone could be enough to open the door for you.
- Knowledge – there will be lots of it within your business networks, have you tapped into it to find out what people know about the organisations you want to supply?
- Confidence – it’s possible that there will be a copywriter or bid writing expert in your networking group. If not, someone may know someone who is. Having the confidence to bid, safe in the knowledge that there is someone who can review what you’ve written prior to submission and give you some feedback could make the difference between the winning bid and the losing bid.
Never underestimate the power of your business network! If you want to know more about how to capitalise on your existing business network, please do get in touch with us for a chat. We’ll happily share our own experiences of business networks and the benefits to business development, identifying ways of making sure your own networks benefit your business.