Surviving this economic downturn requires a second bid, or third or fourth, we are in a massive downturn, competitive bidding is a neccessity.

You have heard this before, it is a buyers market.

Revenues are dramatically down, and competition brutally intense.

This is the time you need to be getting multiple bids to truly get the best price possible. Remaining loyal to a tried and true provider may  still be an important option but only with the knowledge of what  the best price is. In fact after you have determined what the competition will do for you, and you have the lowest price available, there is no reason why you cannot share that price with your preferred vendor and offer him the opportunity to match it or at least come close enough to satisfy your needs and do business with whom you prefer but at the right price.

I just shopped for carpets for an office I am moving into and with five bids, I received  five prices that spread over $500. from $1750.-$2300. a significant spread, and that was for a low ticket item. Interestingly to me, the first bid I received assured me he was giving me the absolute lowest possible price and invited me to ask around but assured me I would be back as he was definitely giving me the lowest possible price. Not so, he was the highest by over 20%.

I usually am not a bid comparison  shopper. I usually go with the first reasonable price I get, whatever that may be, and however I determine what is reasonable and seldom explore competitive bidding,  I am usually more interested in who the provider is not what the price may be, willing to pay more for a better company or person in my perception.

However  under the current economic circumstances I have committed to a full bidding process for all my requirements for the new office I am moving into and am amazed at the spread of prices I am seeing. You would think they are all bidding on different jobs as the prices are so spread out.

There are many businesses so desperate for the work or the order they will gladly bid at, near, or even under their costs. They need the cash flow, so they think, and are willing to compromise profitability. As a consumer it is to my advantage to find these opportunities and save significantly.

So I have become a comparison shopper, something I have never been my entire life…but am learning how to do now.

We all need to explore competitive bidding even in retail situations. It is a new world and there are new rules. Cash is king and the buyer rules. Call us if you need help 413-584-2581, Norm will arrange a no-obligation tele-conference.