Competition is valuable. Don't give it away; instead, get paid to play. For example, if someone asks you to bid, merely to increase competition and with no intention of giving the product/service/deal to you, require sufficient compensation. They probably won't pay you an actual fee to participate, but you might be able to get bid preparation expenses, or a "last look" provision (in which you get the deal if you match the best price), or you might ask them to quote a price which you either accept or reject, or you might ask for a guaranteed contract at the bid price. When deciding how much compensation you deserve in order to bid, keep in mind these potential hidden costs: the labor involved in putting together the bid; the fact that the bid requester (and potentially your competitors and customers) will learn what you're willing to pay; and the chance that your existing customers will want a better deal.
Post your Comment