Get Hired: 5 Tips for Writing Compelling Freelance Bids

Introduction

Bidding for projects is a common practice to acquire new contracts. However, the process requires more than submitting a number for the final price. Winning a bid involves strategic planning, years of experience, and a keen understanding of securing the project at a reasonable profit. 

To stand out from the competition, leveraging expertise and digital tools in the project bidding process is essential. With the right strategies, you can increase your chances of winning even the most coveted projects. 

However, with cut-throat competition in the field, you must be extra careful when preparing your project bidding. Even the slightest mistake can mean the difference between submitting a winning bid and missing out on a highly desirable and profitable project. 

To help you improve your chances of success, we have compiled a list of 5 tips for freelance bidding. So, let's dive into how you can master the art of project bidding in the construction industry. 

5 Tips For a Freelance Bidding 

Bidding properly is the first step to starting your freelancing career after upskilling. Though there are various ways to bid, when you properly plan and strategies your bid, you increase your chances of getting selected. So, here are a few tips that you should know while going for freelance bidding: 

1] Learn about the Market Fluctuations 

In the digital market, fluctuations in costs and availability are common. This is why your contracts may change according to the cost of labor, taxation, and other fees. To win freelancer bidding, pre-consider every market trend.  

Keep up-to-date with the latest market trends, news, and economic indicators. This will help you anticipate fluctuations in demand and adjust your prices accordingly.  

You can charge higher prices if demand is high and supply is low. Conversely, if demand and supply are low, you may need to lower your rates to remain competitive. 

2] Hold a Bid 

Bidding for a project involves making a carefully considered decision regarding whether to invest in it or not. This intuitive process requires a comprehensive evaluation of factors such as profitability, capability, historical analysis, long-term strategy, and risk assessment. One way to conclude in this regard is to conduct a bid/no-bid review, which follows a data-driven approach. 

During a bid/no-bid review, various factors must be considered, including the current market situation, competition, business strategy, the firm's financial condition, project location, and scope. By taking a subjective approach, the review helps conclude an objective data evaluation. 

Three fundamental bid/no-bid tools can be used: checklist, matrix, and decision tree. These tools can be used alone or in combination, as required, to sort and assess the factors that must be considered when bidding for a project. 

3] Avoid Arithmetic Errors 

When it comes to freelance bidding, accuracy is of utmost importance. Even the slightest mistake in your math can lead to a catastrophic impact on your bid. A minor arithmetic error can cause your bid to either exceed or fall short of the project's actual cost. It can result in a loss of profits or the opportunity to win the project. 

It is easy to make manual calculation mistakes while performing complex calculations. Therefore, using a calculator or bid software is always advisable to ensure that your calculations are accurate.  

Double-checking your math can be your savior in such cases. It is always recommended to review your calculations and numbers twice to make sure that everything is in order. 

4] Labor Costs 

Estimating labor costs accurately is a crucial aspect of preparing a successful bid. This can be a challenging task since it involves considering various factors such as hourly wage rates, the number of man-hours, and the productivity of your workers. 

Unforeseeable circumstances can impact labor costs, including employee turnover, absences, and injuries. While experienced workers can complete tasks faster, you may have to pay more for their services.  

On the other hand, less experienced workers may require more man-hours to complete the job, but you can compensate for that by paying them a lower wage. 

5] Avoid scripted bid proposals. 

Freelance bids require more than just sending a generic proposal. Refusing a cookie-cutter approach that may make you sound uninterested in meeting the buyer's specific needs is essential.  

Your freelance bid proposal should be personalized and tailored to the buyer's requirements. Using a scripted proposal or a resume as a substitute for a well-crafted proposal may give the impression that you need more experience or creativity for the job. 

To stand out, write a competent and conversational proposal that reflects your understanding of the project's scope. 

Final Words  

As a freelancer, projects bidding secure work and build your career. Following these five tips for freelance bidding can impress more clients. From carefully reading project descriptions to set realistic deadlines, there are many ways to stand out as a freelancer bidder.  

With these tips, you can start freelancer bidding with confidence on ZoopUp. Set yourself up for success in your freelance career today!