One of the fears in bid-based work is losing a project to a competitor because they offered a lower price.

A bid rarely represents the rock-bottom price that you’d be willing to accept. It’s an educated guess that takes a variety of factors into account – including the market conditions, expected competition, available capacity, profit margin, type of work, etc.

So one theoretically valid approach is to always hope for “one last” chance to make a last bid. To come in and save the day with a discount that steals the project from your competition.

But despite the allure of this approach, there’s an inherent risk.

By saying that you always want the chance to provide a discount, you lose credibility. There’s something to be said for someone who’s willing to be transparent and come to the table with their best offer off the bat.

It’s not an approach that works every time, and you’ll probably lose a few individual projects in the process, but it just might be the best approach for the long game.

-Brandon