Month: December 2022

Tender/Bidding Vs Proposal

December, 29 2022

We’ve compiled a list of definitions that every business should know about when it comes to bids, tenders, and proposals. First, remember that terminology varies from company to company and country to country. To some extent, they are also influenced by the individual’s history and skill set.

Bid

This is a strategy for gaining new or recurrent business from a client. By their very nature, bids enlist the participation of employees from a wide range of enterprises. The bid  manager must communicate effectively with a wide range of professionals, including those in the technical, legal, financial, and human resources (HR) fields and senior management. Documented   offers made in response to a request or invitation to tender can also be described as a bid. Once the proposal is submitted, it will be reviewed based on a set of specifications in the request for tender.

Tender

Bid and tender are frequently used interchangeably. However, the supplier side increasingly uses the phrase bid, while the procurement side (the buyer) uses the term tender

Proposal

A seller’s proposal to a prospective buyer is a written offer. There are times when more than just pricing is essential to a consumer, and this serves as a chance to make a compelling argument for a product, service, or business opportunity. Client-focused  papers, like proposals, are personalized and solution-oriented to the buyer’s needs.

Manager of Bids

The bid manager handles every aspect of the bidding process. Research, information gathering, and strategic messaging could be necessary before the proposal is issued. Overseeing best practices and procedures and managing different resources, often cross-functional, cross-jurisdictional, or even spanning firms or the supply chain, are some of the responsibilities of this position. Suppose you want to succeed in this leadership role. In that case, you’ll need people management abilities, the capacity to cope with complicated business connections, a wide range of conflicting agendas, and an unwavering commitment to meeting deadlines even under extreme pressure.

Contracts and Procurement Manager

“Bid Manager” and “Project Manager” are used interchangeably. However, bids are project-based with a set start and finish date. Regarding managing and controlling the capture life cycle, the tender manager has typically been responsible for discovering and converting essential business opportunities, supervising and delivering delicate answers, and regularly assessing the bid management process. On the procurement side, a tender  manager can also handle tender requirements, oversee the  request for Tender process, and negotiate contracts with potential suppliers.

 The individual in charge of overseeing a project

All  id  managers are  project  managers to some degree. Due to its stated start and end date, objectives, responsibilities, milestones, and deliverables, a bid has many project features. Project managers may be assigned to bid management positions because of this.

An expert in their field

Also known as “subject- matter experts,” technical specialists specialize in a particular sector and are essential in creating a custom solution for each customer. It’s all about design and utility, not sales. Systems programmers and network designers work in IT, whereas civil engineers are responsible for building large-scale infrastructure.

Technical Document Author

Professional communicators who have mastered the art of explaining complex technical concepts in a way that the average consumer can understand. As part of the  bid  manager and technical writer team, they work closely with  technical  specialists to define their information needs and ensure that it favorably impacts the bid.

Proposal Writer

In most cases, proposals need the work of a proposal writer to compile pre-existing material or to create original content specific to the customer’s demands. Bids typically begin with an executive summary and describe the problem or opportunity, the solution, and how it will be implemented. The project’s cost and pricing and the organization’s specifics, such as the names and descriptions of the individuals responsible for managing and carrying out the work.

How to Make Good Use of Grants?

December, 16 2022

When starting a new firm, grants may be a valuable source of capital. Funding grants can help entrepreneurs explore new corporate opportunities, fund operating cash for a business plan, or aid in other ways.

The following are some tips for making the best use of grants. It is possible to classify these keys according to grant use. Using these points as a checklist, you may make the most of your grant money.

1. Grants aren’t free      

Some farmers’ organizations feel grant money can be utilized for whatever purpose. This is like getting money for nothing. On the other hand, grant money can only be used for the purposes specified in the charitable organization’s RFP; it’s detailed in the grant application you submit.

You shouldn’t view getting a grant as a “means to an end.” It’s important to remember that getting a license is just the beginning of your journey to success. The ultimate objective is to build a profitable enterprise. When a grant is awarded to a farm group, many of these organizations think their work is done for the year! However, this is often only the beginning.

2. Always apply the correct means of a business proposal

Using a grant correctly means focusing on your business prospects and only asking for a gift when you need more funding to investigate an opportunity. This is when you should begin searching for financing from a philanthropic organization. There are a variety of ways to go. After hearing about an RFP from a funding agency, they rush to apply. To avoid wasting time and money, grant recipients focus on achieving the award’s qualifications instead of their project’s goals. Because of this lack of attention to your basic principles, it is challenging to build a solid basis for new start-up businesses.

3. Get financial assistance first

Do you need a grant for your project? Financial assistance from foundations and other grant-making organizations is often used to test new business ideas or boost an existing company’s productivity and profitability. Grant money can complement current finances, including cash contributed by the farm group. As a result, you shouldn’t use them in place of your cash reserves. 

4. Be precise when applying for Grant

Are you prepared to apply for a grant? Be precise about the aims you hope to achieve with the grant money you’ve received. Do not apply for a commission if you do not have this. Do you have specific company ideas or concept components that you wish to examine? For instance, before employing these funds to conduct a feasibility study, you must clearly define your business concept. Assuming you’ll be utilizing the money to help launch a new company, make sure you have everything else in place, such as funding for the company’s other areas of operation.

5. Approval of the Request

Commitment to the project is the fifth quality. Applicants for grants must be fully engaged in the project. For example, if your task is to examine a business’s potential, you must be ready to complete the inquiry. When reading an RFP, pay attention to the details (RFP). To get an idea of what the awarding agency is looking for, read the RFP thoroughly. Many grants require that you address particular criteria in your application to receive a high score on the budget. You may be disqualified from consideration if you fail to address even one condition.

6. Make your grant application

You may choose to create your grant application or you may want to hire a grant writer. Having the paper written by a competent grant writer increases your chances of getting the funding you want. Hiring a grant writer does not absolve you of your responsibilities, however. You still have to be involved in the process. Organizations looking for financial assistance must offer information, documentation, and support for their proposals to grant writers.

7. Issue of contractual application 

Once the grant money has been received, it is common for award recipients to forget about their grant applications. However, the application continues to play an important role. Approved and paid grants are contracts between the giver and the grant recipient. You’ll learn about who’s responsible for what and how much. It explains how and when grant monies will be disbursed, the activities for which they will be paid, the reporting obligations of the grantee, and other essential information for the connection.

To sum up:

The contest must be completed. Matching funds are required for many awards. Because of this, you will be responsible for putting some of your funds (or someone else’s) into the project. A one-to-one match may be necessary. Members receiving grants frequently provide their own “time” as an in-kind match to projects they’re involved in.

Can grants be used for anything? This is impossible as you will need to report on the expenditure of the contributions to reflect the ethical part of your business or organization. However, you can always request funding for a specific project. You can also provide a breakdown of the activities for this project and the people involved in it. This will require the funding to be used, so you can always refer to the actual request when reporting on the grants you have been offered.

 

 

 

What makes a good grant writer?

December, 8 2022
grant writer in Australia

Writing grant proposals for a wide range of organizations is a wonderful opportunity to put your writing abilities to good use. Perhaps you are seeking a grant writer to work with. When it comes to applying for and obtaining grants, you must require a professional grant writer, as they are essential to the process.

Writing grants requires expertise, perseverance, and hard work. These are the characteristics we look for in grant authors. As a prospective grant writer, or someone looking for a job, here are the six traits you’ll want to look for in a potential hire:

Organized: There are many projects and deadlines that grant writers must juggle. Working on complex projects requires a high degree of organization.

Creative: A good grant writer should be able to write in an exciting style and present a good story. When it comes to getting funding, they should think beyond the box.

Detail-oriented: Writing a grant proposal takes time and requires careful attention to every little detail. Unacceptable proposals include those that are incomplete or do not include all the necessary supporting documentation requested by the grantor.

Expertise in the subject of research: There are always changes in the grant business, and grant writers should be aware of these changes. Grants are more likely to come your way if you keep up with the latest developments in your profession.

Persistent: An excellent grant writer cares about the objectives and principles of the organization and is driven to acquire funds. They’ll have a good sense of how far to push and when to back off.

Communicative: Individuals who write grants need to be polite and consistent in theirbcommunication, but they also need to be able to catch their readers’ attention.

What are the key characteristics?

Many additional abilities and traits may move you from being a competent grant writer to a great one, even if these are the key characteristics.

Effortless writing: Staying current on industry jargon can aid you in creating a more concise proposal, in addition to being well-organized and able to communicate effectively. The best sentences are brief, concise, and understandable.

Passionate: Writing a solid grant proposal doesn’t require special abilities, but it does require a genuine interest in the work you’re trying to fund. To get a grant, you must articulate why your organization’s purpose and goals are vital to you and your team.

Excellent ability to concentrate: When we’re preparing grant proposals in front of a computer screen, practical listening skills aren’t likely to spring to mind, but good grant writers spend most of their time listening to and thinking about what everyone in the organization is looking for in a grant application.

Reflective: Every time a great grant writer starts a new grant submission, they go back and look at their previous work. Although no two proposals are precisely the same, reviewing your previous work may be beneficial.

Data-driven: This characteristic and sound research abilities go hand in hand. As a grant writer, you must be able to interpret data and know how to use it to your advantage. To demonstrate the necessity of your project, a skilled grant writer will draw on previous experiences.

To sum up: Grantors will be more likely to give money if they have an excellent working connection with the applicant. Proven success in grant writing and reporting requires excellent writing skills, and analytica l research skills with a high level of attention to detail. It is also an advantage if they can synthesize information and communicate succinctly with the ability to work well under pressure to meet short deadlines. A bachelor’s degree or equivalent and demonstrated Project Management skills and high-level research skills are additional advantages. Somehow it includes an understanding of the methodology and research ethics. The students should also be able to see how past and future data are interconnected and how it affects the outcomes of their projects.