As most businesses knows, answering a Request for Proposal (RFP) is a thankless, painstaking, and time-consuming task that too many times is a farce because the procurement department forces stakeholders to go out to bid even when they have already verbally awarded the contract to an existing provider or friend of the firm.
While we would never turn down a great opportunity because it is an RFP, over the years we have become much more rigorous about the types of RFPs we respond to. Recently, we decided to pursue an RFP from “Company X” because it fit the basic criteria we established for pursuit:
- Asking for a business simulation as part of the solution.
- Company X has revenues over $1 billion.
- Has an audience of more than 500 leaders that need help.
- Sees the training initiative as a way to change values and culture.
- Perceived to have a realistic budget for the initiative.
After investing close to 60 hours of team time thinking about, brainstorming, and designing a great solution, we shipped off the RFP and waited for a response.Read More >