Entry #3: Strategic Partnerships

Supplier-Connection: The Supplier Spotlight Contest

There are times when a small business cannot fulfill all of the requirements of a large RFP, especially for larger corporations. Some SBEs might not have the resources or financial ability to expand. Other times you’ll get asked to bid on an RFP in your core industry but you don’t have the expertise to handle a small percentage of the requirements.

Do you attempt to close on the business first and then expand your products/services to fulfill the requirement? Do you invest time in lining up the required skills before you have the business? Or do you wait? Since we must be extremely conservative in an economic downturn, we have to be creative in our approach to business development.

One way to improve your chances on an RFP/RFQ is to establish strategic partners. Here’s a quick overview of how:

  • Determine if there’s enough of your core business products/services included in the RFP to make it worth your investment in time.
  • Identify the products and services you cannot provide
  • Source a strategic partner to fill or exceed all requirements by connecting with your business friends and contacts, perform online searches, and/or search online databases like Supplier-Connection’s (they have a Small Business Profile you can search).
  • You must be able to deliver world-class service in all areas to have a fighting chance. Make sure, if you don’t know the potential partner, get and check references.
  • You must be flexible and willing to adapt in order to increase your success rate.

The strategic advantage to the customer is you providing a “one-source solution” that will streamline the process and provide world-class service.

You won’t win every RFP but your ability to adapt will increase your winning percentage and help grow your business.

Lou Biedka
Executive Vice President
Splash Worldwide
lbiedka@splashworldwide.com
D: 212 239 4275
M: 646 370 9792
48 West 37th Street, Second Floor
New York, NY 10018
www.Splashworldwide.com

Advertisements

About Dan Gallo

I'm a small business lifer, starting/running businesses since I sold seeds door-to-door as a kid in The Bronx. I've played guitar and enjoyed baseball since I was 5 (born a NY Yankees fan). Just prior to marrying Kim in 1983 I became a Christian. We have two sons; Daniel's a musician & social media expert with a smart, insightful sense of humor, and Adam who recently graduated from Brooklyn College double majoring in Creative Writing/Literature and Anthropology. Adam now works in the non-profit sector. Since 2002 one thing we love to do together is go on service/missions trips to Belize. We've collectively spent 60+ weeks in Belize with this missions organization http://twaw.org. I started my 1st company in January 1985, and been self-employed ever since. I sold my last company, Mentor Communications Group, in '04. After 2 years w/ the acquiring company I started The Allasso Group, LLC doing Small Business Consulting, Fund Raising/Capital Raise-up Campaigns, Sales Strategy, Outsourced Sales Agency work, & Digital Marketing Programs (Social Media, SEM, etc.) since April 2006. Notable projects: Hired as Small Business Advocate and Social Media Director for IBM's "Supplier-Connection" - Feb '11-Dec '13. Hired as COO to help turn-around late stage start-up software company myVRM. Jul12-Dec '13 Hired as CEO of CoupleWise.com, a Digital Health2.0 app, to write business plan, raise seed capital, & completely redesign and relaunch the app. Aug '16 I won a Finalist spot for MassChallenge UK's 2016 fall cohort in London from Sept thru Nov. Started Oct15 - Current. I enjoy helping turn-around struggling small businesses, and launching new business ventures. Feel free to contact me with opportunities.
This entry was posted in February 2012 Contest and tagged , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s