Finding or bidding for new business is always a challenge, so if you lose out on a potential project, it can be demoralizing for you and your team. While you may have confidence in your ability to do a job, getting the the job in the first place also matters for your bottom line.
In this article, you’ll learn how to land your dream gigs using our bid template for project proposals. The staging-mondaycomblog.kinsta.cloud bid template sets you up for success, outlining key information to include to earn a contract with a company. First, let’s go over the basics.
What is a bid template?
A bid template is an outline for crafting a winning proposal to land a contract with a company or organization. A bid proposal is an elevator pitch where you try to convince the potential client you’re the perfect candidate for the job. The final proposal should summarize all the necessary information a company needs to make a decision about your bid.
A bid template typically provides the following information:
- The product or service that you can provide
- Contact information
- A timeline for project completion
- A pricing quote
- Terms of the legally binding contract
- Any relevant information that pertains to the job and your ability to take it on successfully
Aside from keeping you organized, you’d benefit from a template in other ways, too.
Why use a bid template?
Organizations, on average, win less than half — 47% — of the bids they make. For small businesses, the likelihood of winning a bid is lower, with 32% winning fewer than 35% of bids they make. As such, if you’re still scaling your business, it’s critical that you follow a tried-and-tested recipe for success with a template.
The bid template is a useful tool you can use to answer a request for proposals and secure a contract. It provides the company with a clear outline of your suitability for the proposed project. The company can quickly scan through the content of the bid when it’s clearly structured to see the most important points without wasting time.
When you use a bid template, you free up time, as you won’t have to research everything that you need to include in your construction proposal or bid for any other vertical. With a pre-existing framework, you simply need to input the information every time you draw up a bid proposal, which you can alter over time to reflect changes to your processes.
Bid templates help maintain a professional image
Beyond saving time, templates can ensure it passes the company’s initial vetting process. Many companies will only consider applications that follow a certain structure or outline and immediately dismiss those that don’t.
Even if you’re confident you can start from scratch and create a contract-winning bid, the template ensures you don’t forget any critical information. Humans make mistakes, so the best way to avoid omitting key information is to follow a template. Failure to mention certain information could ultimately cost you the job.
It’s easy to collaborate on the final proposal with your team
Furthermore, with a template, you can have anyone in your business fill out information about specific tasks or details. With clearly-defined fields, you can easily divide it between employees with suitable expertise. It is much easier to create a final bid proposal when everyone is equipped with the same information. staging-mondaycomblog.kinsta.cloud’s bid template makes it even easier to collaborate on proposals with your team, but we’ll get to that in a minute. First, let’s dive into some applications for bid templates.
What are some examples of bid templates?
Let’s take a look at some examples of when and how you can use a bid proposal template.
Material and labor costs template
With this template, you can indicate estimated costs for material and labor, so the company can see whether your pricing falls within their budget. A simple breakdown can help the company you’re bidding for a contract with see what each part of the process will cost.
The transparency upfront could give you the edge over competitors who are vague with their pricing. If the project requires more material and labor than initially anticipated, you can alter this template to reflect that.
Project scope template
This template helps you detail the scope of any project and highlight important information and dates related to the project.
This overview template can provide the company with an idea of how long the project will take, what exactly is involved, and any work terms.
Contract terms template
In this contract terms template, you can lay out what your expectations are regarding materials, labor, and other important details related to the project.
This contract template can lay the foundation for your work with the company, setting the conditions you’d need to complete the project successfully. Drawing up contract terms in advance can help avoid miscommunications later down the line.
staging-mondaycomblog.kinsta.cloud’s unique bid template
The staging-mondaycomblog.kinsta.cloud bid template lets you systemize your bidding process and digitize it for convenience — you’ll no longer need to rely on outdated systems and clunky workflows to put forward bids.
It outlines all key details you should include in a construction — or any other type of — bid proposal, including labor and material costs, contract terms, expected timeline, and more. Getting recruits up to speed during the onboarding process will be easy, as they can quickly learn to fill out the bid template just as well as your senior staff.
With our inventory tracking system, you can automatically feed information into the bid template regarding materials you have in stock. This can save you a lot of time in the bid creation process and helps you stand out from the competition.
The monday projects workflows can boost your chances of crafting winning bids, as you can use existing project information to guide your estimated costs and timelines — and back up what you say to the potential client with tangible data from previous projects.
You may need to pass the proposal along to others within the company to check that the information is correct and that it’s ready to submit. With monday workdocs, you can share documents internally and have your entire team collaborate on and edit them in real time, right on staging-mondaycomblog.kinsta.cloud.
We’ve covered the basics— let’s get into some bid template tips & tricks
From pitching the project to adding value, here are three ways to create a bid template that wows clients.
1. Pitch the project
When crafting a bid, it can be easy to slip into old habits and write the same pitch as you did for the last contract you won. However, companies can see through this, especially if you lifted the text and pasted it wholesale.
Instead, pitch the specific project you’re bidding for by researching what it entails, who the company is, and why you’d be the best candidate to complete it. When you show the company that you know exactly what the project is, you can win over the senior management as you can speak to the specific pain points they need to address.
2. Know your competition
If you don’t know what you’re up against, it’s challenging to know how to pitch your business as the best candidate for the job. Do some research on construction companies like yours to find out what their unique selling points might be. That way, you can compete on your own terms rather than trying to beat them at their own game.
3. Add value
Provided you’ve done your research on the project and the company behind it, you can add extra value that might help you seal the deal. If you’re pitching for a project with a small company, for example, you might provide a discount on materials, which acknowledges that they might have a tight budget. Another approach could be to offer a guarantee that assures the company there’s minimal risk in choosing your business for the job.
Have other questions? We answer some popular bid questions below.
FAQs about bid templates
How do you write a bid template?
To write a bid template, you need to know what is expected of you when you take on a project. In most cases, the following information will provide a sound framework for your bid proposal:
- Information of both parties
- Contract terms
- Material, labor, and other project-related costs
- Any services or products you can provide
- Any discounts or extra services you’re willing to offer
- A timeline for project completion
How do you write a winning bid?
Writing a winning bid doesn’t require rocket science.
The key to writing a winning bid is to do your due diligence and research what your competition offers, what exactly the project demands, and the unique needs and priorities of the company behind the project.Once you’ve conducted research, strategize how you can win the contract by offering the company unique value.
For example, you could angle your business as the most affordable option or the fastest option. Or, you could try to add on additional services free of charge to appear as the best value for money.
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