It’s that time of year when a lot of people decide they want a change. This can mean a variety of different things to any one person but for a large number it means new employment. It is crucial, however, that you make the right move for your career, rather than change for the sake of change itself. To help, Ben Hannon and the team from Bid Solutions have shared a selection of things to consider when planning your career.
1. List your goals
Understanding what you want to achieve in the long term will help you decide what you need to do in the short term. This list does not need to be set in stone, it will more than likely change several times as you react to the environment around you, both personally and professionally.
2. Think about your likes and dislikes
What type of environment allows you to flourish? What are your strong points? Do you even like your strong points?
Being happy at work is crucial to being successful and will provide you with the motivation to carry on when the going gets tough. For bid professionals, there are a variety of skills that are all crucial when pulling together a submission, so pinpoint where you fit in. If you aren’t sure what the bid lifecycle looks like, you can read more here: bidsolutions.co.uk/clients/hiring-guide/bid-lifecycle/
3. Look into professional development
There are a number of courses available to improve your skills and further your career. Off-the-shelf courses that promote bid best practice are useful for all bid professionals and will give you a solid base upon which to build. Further to that, you can look more specifically at the roles you wish to undertake. Perhaps you need to develop your writing skills for executive summaries, or maybe you need to use a creative software package to enhance the look and feel of your submissions? There is no limit to what you can learn, so be sure to explore all available opportunities.
You can find more information about bid training on the Bid Solutions website.
In addition to training courses, there are a number networking events you can attend to share ideas and understand how other organisations / industries approach bidding. The more you know, the better chance you have of success.
4. Keep your CV updated
Sometimes you can find yourself in the situation of unexpectedly having to find a new job. Having a CV ready to go will help you save time with your job search. It is recommended to have a base CV that provides an overview of your career and key bids that you have been involved with. Depending on the position you are applying for, be sure to tailor your CV so that your relevant skills are unmissable e.g. if you are applying for a bid writer role, make it obvious that you have written bids before.
5. Review your progress
Rome wasn’t built in a day, so be aware that achieving your goals will take time. Set time aside to review where you are in your overall plan. Are you on track? If not, what can you do to get yourself back on track? Professional development could be the answer, as mentioned previously. For bid professionals in permanent employment, it is recommended to review your progress on an annual basis. For interim bid professionals, review your progress either once every 6 months or at the end of each major contract. Most importantly on this point, don’t forget to celebrate how far you have come!
It is important to remember that career planning is not an exact science and these are just a number of points to consider. There will be many bumps in the road along the way and you will have to react to whatever life throws at you. However, the better prepared you are, the better chance you have of success.
As we say in our office, hope is not a strategy.
Here’s what other bid professionals had to say about their careers
Download our report on the state of bid management to find out what your peers around the world think of their careers. Download the report
The management team recognised the need to define a common language for business and invest in its people to improve skills. A dual purpose programme was designed to integrate teams whilst improving proposal quality.
Step 1: Best Practice Training
A leading training provider worked with them to develop a course based on APMP theory. Six successful months of training followed: four UK locations, 50 newly-integrated staff and an average feedback score of 96%.
Step 2: A Competition to Promote Ongoing Best Practice
The impact on bid quality was immediate and showed in bid reviews, but sustaining this required a continued focus and application of best practice.
With a brief to showcase new skills and an incentive of £250, the ‘2016 Best Practice Competition’ was launched. This was the opportunity to apply and showcase the valuable techniques learned during the training.
Step 3: Integration of Process & Governance
To further support people in making good business decisions, they reviewed process and governance. They took the best from both legacy organisations and introduced improvements that reflected APMP best practice.
The Outcome: A Refreshed Perception
The combined team’s ability to qualify with rationality, influence the impact of a document and develop content has resulted in a renewed respect from technical teams for a professional proposal function.
APMP accreditation has been the backbone of this upskilling initiative and their objective is for all proposals staff, including new starters, to achieve Foundation level.
- From 18 to 41 people CF APMP in 12 months
- 13 people progressing to Practitioner, four achieved this during 2016
- Attendance at eight Foundation courses
- Hosted two APMP events
- Inclusion of APMP Practitioner accreditation in a financial incentive scheme to reward professional achievement
Overall win rate increase – increase in win rate of 39% in 12 months.
Their best score yet – 100/100 for quality recently recorded on a bid (combined quality/financial score of 99.55/100).
And here is some of the feedback received…
“The final decision was made in the board room. Your competitors were the recommended consultant. Based on the compelling document and your evident thirst for this project, we selected WSP | Parsons Brinckerhoff over them.” Skanska
“If you asked me yesterday to write an introduction to why I’m a relevant Project Manager, it would be very different to the one I’ll write tomorrow. Tomorrow, it will be relevant and benefit rich!” Andy Poole, Following 5 Ways to Improve training
“The submission is extremely compelling.” Darrell Wilson, BDP
The feedback speaks for itself. The focus on people development has empowered WSP Parsons Brinckerhoff to produce powerful proposals, inspired careers and shaped an expert team to deliver the vision to BID LESS, WIN MORE.
I think you will agree with me when I say very worthy and impressive winners. Congratulations from all the team at Bid Solutions!
Only a week away from the APMP UK conference in Wokefield Park, Reading.
This year the conference is focusing on wide-ranging audiences – how to identify opportunities, influence our customers and achieve true engagement that secures business where everyone wins.
Tickets are still available by clicking here and the Bid Solutions Team will be available throughout the conference to discuss how we can help you and your team find the right people, tools and provide training and consulting solutions that significantly increase your chances of winning new business, whilst delivering a legacy of improved proposal quality.
We are also sponsoring the People Development Award again this year, which is designed to recognise an organisation that has furthered the capability and/or impact of their bid teams to the success of the business. This year’s nominees are EE, Goodman Masson Ltd and WSP | Parsons Brinckerhoff and we look forward to announcing the winner.
The shortlist for the 2016 People Development Award, proudly sponsored by Bid Solutions, includes:
• Goodman Masson
• WSP | Parsons Brinckerhoff
We would like to offer our congratulations to the nominees and look forward to announcing the winner on the 19th October at the Annual APMP UK Awards Dinner. This year has seen a high number of submissions and it has been a very challenging job for the judges to sift down to these final nominations.
If you are interested in attending the conference, please visit: http://conference2016.apmpuk.co.uk/
Bid Solutions is delighted to announce the launch of its ‘Ask the Expert’ service.
With so many different approaches to bidding and a growing recognition of our profession globally, we understand just how hard it can be to get an objective opinion on best practice or industry-specific challenges. Having personally worked with some of the best people in our profession for over 20 years (and having benefitted from their counsel on many occasions), I’m pleased that we can now extend this fantastic service to our wider network.
The panel is comprised of 15 experts and is actively expanding to cover more industries and disciplines. Our current range of expertise includes: Apprenticeship Programmes; Benchmarking; Cost Modelling & Pricing Deal Management; Public Sector Bidding; Leadership & Coaching; Innovation; Proposal Management; Business Transformation; Proposal Training; Organisational Design; Professional Development; Content & Knowledge Management; and Microsoft Word.
The industries currently covered include: Construction; Professional Services; Financial Services; Aerospace; IT; Defence; and Telecoms.
Got a burning questions or struggling with a particular challenge? Simply find the relevant expert and submit your question at http://bidsolutions.co.uk/bid-hub/ask-the-expert/
Our experts have already offered up some fantastic advice and you can benefit by following the links below:
As recognised thought leaders, our experts will be regularly sharing new ideas on best practice and discussing industry trends. Follow all their updates on our website and LinkedIn feeds.
This week saw the publication of startling new research into gender disparities in the bid / proposal profession. The study, led by Krista Takkala of Strategic Proposals and supported by Bid Solutions and the APMP UK, makes for some very challenging reading.
Although the data is primarily UK-based, respondents elsewhere suggested that there are concerns to be addressed worldwide.
Following the salary surveys published by Bid Solutions, it should come as no surprise to the profession that there are gender disparities. What does shock however is the scale of the problem; fundamentally affecting women and their career advancement. It clearly isn’t just affecting salaries, the research suggests there is widespread discrimination across all roles and all industries.
The report offers some excellent ideas and suggestions for tackling these problems head-on and is available to download here.
I know Krista would welcome further suggestions as to how to tackle the important issues raised. The full results and findings will also be debated at this year’s APMP UK conference in October. Full details of the conference can be found here.
Value vs Absorption, a great article written by one of our experts, Peter Bryans.
There are so many pricing theories, strategies, approaches and so on throughout textbooks and the internet. To distil what is simple from what can be overly convoluted and complex – there are only two ways to set a price:
- Value Pricing; or
- Absorption Pricing
Value pricing is linked to the principles of what your customers are prepared to pay, Absorption is linked to the principles of mathematics on recovering the costs to meet your customer’s demand whilst making a profit.
Quite simply value pricing is predicated on what the customer wants to pay (or is believed to want to pay) whilst absorption is what the customer needs to pay so that costs are recovered and the supplier makes money.
Excluding luxury goods, does your customer ever want to pay more than you need them to?
To secure a sale, value pricing will be preferred on the viewpoint that work can only be won if the competition is beaten. On this basis, the price ‘is what it is’ and it is for the business to reverse-engineer profit, risk mitigation, cost recovery and a solution to fit within the set-price. The problem comes when price is too low for a business to work within or if milestone payments govern when and how much is paid; this can lead to problems with cashflow if you are spending money, to service a customer, at a rate greater than you are being paid over time.
To maximise the chances of being able to deliver to time, cost and quality and to yield a profit from a customer Absorption pricing will be preferred. The main problem can be that the calculated price is well above the competition.
Pro’s and Con’s
There are a variety of upsides and downsides to adopting value or absorption pricing:
If a company is small with a low cost-base that is easy to comprehend and manage then value pricing is all that is needed and, indeed, recommended. That said, cash flow should always be considered in parallel.
If a company is larger or has a cost-base that is complex and needs active management then absorption pricing is the sensible approach – provided costs and prices are moderated and scrutinised before being issued to customers.
Value Pricing – in more detail
Value pricing is named on the basis of the value perceived by the customer. We have all been customers and have our own perception of value, therefore the price we are prepared to pay before we’re told what it is – for a product or professional service. If we regularly go to the cinema, we ‘value’ it at £7.50 – £12 a ticket. If we go to a very nice and posh cinema we may increase that value perception to £20. If we went to a brand new cinema and they asked for £475 per ticket – would we accept it, graciously? Maybe we would if we had money to spare and it happened to be the world’s first fully-immersive 4D experience. Realistically, we won’t accept such a high price – we would simply leave, go to another cinema, tell our friends and family and never return.
The art with value pricing, therefore, is to understand the market and to set a price that is commensurate with the customer’s perception of value.
Value pricing is orchestrated for new products or services in one of two ways:
- From first principles; or
- Following a critical review of detailed (perhaps absorption) cost and price calculation
First principles are consumer analysis, market research, professional judgement, and historical trends of current similar products/services. Simply speaking with and asking your customer about their value-view is advisable. By analysing a number of opinions and data sources a logical value price can be set.
When a detailed cost and price has been calculated a value price can be adopted as an over-ride. In other words, a total price can be broken down into sub-components and sold at discrete value-prices, to make up the same overall total. As an example, imagine a customer wanting three houses to be built on the same site; one small, one medium and one large. The prices in order to recover costs may not align to a value-view, but can be over-ridden to align and secure the work:
The detailed cost and price is such that there isn’t much difference between small, medium and large as the marginal costs between each is small. However, a value-view would have much greater difference between the sizes.
If the detailed cost and price approach were to be put forward then the customer would not accept the offer and go elsewhere. This is because the small house would be seen as too expensive. If, however, the value-presentation were put forward then the work would be awarded. The contract values are the same either way. The downside here is that cash flow may be negative for a period and therefore you would hold an additional cost of capital for a duration. This could be added to the price, however.
Client budgets can be problematic in that although the customer may agree that the value of a product or service is above the available budget they simply can’t afford what is on offer. In these scenarios companies need to think hard about whether they will continue to try to sell to the customer or innovate to supply something of lesser value at a lower cost, provided the customer’s requirements are still met.
If Value pricing is to be adopted and it is expected to lead to low or insufficient levels of cost recovery then a business decision needs to be made as to how the company can lower costs to deliver and make money.
Absorption Pricing – in more detail
Absorption pricing is found more in large organisations bidding for high cost / high risk work and to tight contractual rules such as firm fixed price (a price that is quoted and does not change for long periods of time, sometimes ten years or more) and engineering & construction contracts such as NEC3 Options A to E.
Subject to whether the customer takes the risk of cost inflation, foreign exchange or delivery risk and what binding contracts may say about punitive charges for late or sub-quality delivery (eg: liquidated damages, service credits, bonds/bank guarantees, etc.) an absorption price model will consist of some or all of the items shown below:
A price is modelled / calculated to absorb all the various elements of cost, risk and gross margin and is a function of how accurate each component part has been monetised. Each component will be influenced by the quality-level of the underlying solution (product, service or project plan) and will change as the solution changes. For absorption pricing professional services, there is an additional consideration termed ‘utilisation‘ – this is an adjustment to account for how much a fee-earning “billable” member of staff could bill to a customer on a time basis versus how much time they actually spend as a cost to the supplier: for example if a member of staff costs the company £100 per day and spends a full 5 day week working for a customer but can only bill 3 days per week then the daily price to the customer would need to recover £100 x 5 / 3 = £167 per day, not £100 per day.
Absorption pricing can descend into a catch-all of as much cost and contingency as can be thought of. Whilst absorption pricing is good at alleviating fears of not making money, giving certainty that risks have sufficient contingency set aside and giving hope of yielding bumper profits, it is weak in that it can form and reinforce prices to be far too high, resulting in losing work. It can also become an entrenched way to over-price again and again if left unchecked; the assumption being that the customer is the silly one and in fact it is their loss. Preparing models early and analysing them against the Win Price – seeking to lower content to get to or below the Win Price – will mitigate this.
Which to choose?
Both. By undertaking value and absorption pricing in parallel you can understand how your price is likely to be received by the customer, a ‘dry run’ if you like. You can also comprehend by how much your absorption calculations need to come down by so that the resultant price is the same (or better than) the value price.
Doing both can be hampered by the amount of time available. It is not likely that there will be enough time to look at both a value and an absorption pricing approach. That said, the best idea is to look at both and work to get them to reconcile. A method to do this is to articulate the value price across the “building-blocks” (content) of an absorption price and then track how the detailed absorption price matches each block via gap analysis. Any major differences can be addressed on a case-by-case basis.
The nominations have now closed and the countdown to the 2016 APMP UK conference has begun. The full schedule has been released and there are fantastic speakers covering a range of topics over the course of the event, including some of our partners and subject matter experts.
The conference focuses on many areas this year including how to identify opportunities, influence customers and achieve engagement that secures mutually beneficial business.
You can view the schedule by day below and if you haven’t already, you can book your conference or training day tickets here.
With written communication such a key factor in winning business, how do you ensure your writing is clear and persuasive?
Forbes Contributor, Tomas Laurinavicius has shared some helpful tools that aim to improve your powers of persuasion:
A fantastic writing tool to make your work clearer and easier to read. The app highlights long, complex sentences and common errors and suggests alternatives.
I’m still surprised how many people never heard of Google Docs. It’s a powerful tool that brings your documents to life with smart editing and styling tools to help you quickly format text and paragraphs.
This tool will make you look like a professional writer. It’s a free grammar, spelling and punctuation checker trusted by millions of users.
One of the best ways to let the words out is to ensure a clean and distraction free environment. iA Writer is a plain text editor for Markdown aficionados.
Writing is not easy. To become a writer, you need to write more. Writing Streak is a tool that has been built to help you develop a daily writing habit.
Freewrite helps you to get unstuck, clear your mind and exercise your creativity. Write every day, without stopping to judge or edit. It’s free to use for ten days, after that $4/month.
A compelling headline is a vital aspect of anything you write. This free blog post headline analyzer will score your overall headline quality and rate its ability to result in social shares, increased traffic, and SEO value.
Another handy and user-friendly online writing software. WriteWell allows you to organize your document visually in chunks, manage your research and writing on one screen, and jumpstart your writing with 40+ outlines and templates.
This tool will save you a lot of energy generating engaging titles for your articles. It’s created by SumoMe team and promises to skyrocket conversions.
As a writer, you always collect ideas and sources to use in your work. Highly is a Medium-style highlighting in every app and website. Available for free on iPhone & iPad, Safari, and Chrome.
Do you use any tools to help you check / improve your writing? We’d love to hear your recommendations. Contact us on 0208 973 2461 / email@example.com
You now have just 1 week left to submit your nominations for the 2016 APMP awards. It is your chance to nominate an organisation / individual who you believe deserves industry wide recognition for the great work they do – you can even nominate yourself!
The award categories are:
- Bid Excellence
- People Development (Sponsored by Bid Solutions)
- Best Newcomer
- Fiona Flower Knowledge Management Award
Voting closes on Monday 15th August. You can find further details and submit your nomination here.
We look forward to hearing the shortlist of nominees which are due to be announced on 5th September.