You will often find these listed on websites, such as TenderLink, AusTender or Australian Tenders. There are three main sources of tender opportunities: open, closed and single response.Įach has its pros and cons that may influence your decision to apply, as well as how much time and effort to invest in putting together your tender document. Since the client expects to use the responses to the tender to make a purchase decision, a formal proposal should include a lot of detailed information on how your company can deliver on the client’s requirements and of course, the costs of your solution.

Request for Proposal (RFP) This is a more formal document and what people think of when they hear the word ‘tender’. Your main objective is to capture their interest so that they want to find out more about what you can do for them.Ģ. It’s an opportunity for you to introduce your business to the client. Request for Information or an Expression of Interest (RFI/EOI)Ĭlients (that is, the business requesting the services) typically use these as a first fence to create a shortlist of service suppliers for an upcoming contract. There are typically two main types of tenders:ġ. However, if the tender is not the right fit for your business or if you aren’t properly prepared for what’s involved, the tender process can become a black hole of wasted time and effort. Yes, tenders can present some solid opportunities to work with larger organisations such as commercial construction companies and government departments.

As a business coach who works with B2B and trade-based businesses, I’m often asked, “Are tenders are a good way to win work?” It’s a good question, and as a mentor who has worked with hundreds of businesses, I can speak from experience when I say that the tender process has its upsides and downsides.

Advantages and disadvantages of tender