Requests for proposal (RFPs) are a great way to sell your services, but beware—RFP processes are fraught with dangers. They can consume large amounts of time; expose your true economics, which can reduce your profitability; and there's no guarantee of being awarded work coming out of an RFP. Sometimes an RFP is run just to put pressure on an incumbent supplier. Know how to properly respond to RFPs and when to politely decline to participate in a RFP process.
- Request for proposal are a great way to sell your services…but be careful because RFP processes…can be fraught with dangers.…They can consume large amounts of your time.…They can expose your true economics,…which can reduce your profitability.…There's no guarantee of being awarded work…coming out of an RFP process.…Realize some RFPs are run just to put pressure…on an incumbent supplier.…You have no chance of getting the work.…
Know how to properly respond to RFPs…and when to politely decline…to participate in an RFP process.…When responding to RFPs,…here are a few things to think about.…Get the templates and response forms…directly from the client.…Answer them in the way they want to receive the information.…Know the deadlines, they can be unforgiving.…Decide if you even want to respond to the RFP.…Assemble and review your proposal,…especially the pricing section, that can be binding.…
Know that there are going to be multiple negotiating rounds,…carefully consider this when pricing your services.…Be low enough to get to the next round…
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- Identify types of consulting business models.
- Describe revenue models.
- Explain how to estimate and manage costs.
- Price services using pricing strategies.
- Explain how to negotiate deals with clients.
- List effects of responding to RFPs.
- Identify the phases of constructing a consulting engagement.
- Present findings and implement recommendations.
- Describe different ways to manage legal issues.
Skill Level Beginner
1. Define Your Consulting Business
2. Marketing and Selling
3. Contract and Protect Yourself
4. Run the Consulting Engagement
5. Handle Administration
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