Pricing Part II [How to Evaluate Your Pricing Before You Bid] You Will Win with This 2 Step Process

Bid Pricing Template : https://fedbizexchange.org/product/bi... Other Resources: FREE Resources & Templates https://fedbizexchange.org/resources/ Free Contracting Course - https://fedbizexchange.org/courses Solicitation Bid No Bid HIT List - https://fedbizexchange.org/resources/ Ask Michelleb - https://fedbizexchange.org/askmichelleb Work with Michelle - https://fedbizexchange.org/consulting Mentor's Circle Beta Waitlist - https://fedbizexchange.org/mentors-ci... Website - https://fedbizexchange.org Bid Pricing Template https://fedbizexchange.org/product/bi... FREE Resources & Templates https://fedbizexchange.org/resources/ Free Contracting Course - https://fedbizexchange.org/courses Solicitation Bid No Bid HIT List - https://fedbizexchange.org/resources/ Ask Michelleb - https://fedbizexchange.org/askmichelleb Work with Michelle - https://fedbizexchange.org/consulting Mentor's Circle Beta Waitlist - https://fedbizexchange.org/mentors-ci... Website - https://fedbizexchange.org In this video, I discuss Step 2, Pricing Evaluation. What you need to do after you've lost a bid and before you submit a bid. Step 1: Watch Pricing Part I before you watch this video - How to Calculate Bid Pricing, Use your Bid Pricing Template to calculate your costs and pricing for the contract. Step 2 Pricing Part II - Evaluate Your Pricing Before Your Bid or After You Lost: 1. Make sure you SAVE THE ORIGINAL SOLICITATION in a safe place, you need the information to evaluate the award and compare it to your pricing. 2. Make sure you find out who the winner is and the awarded amount, that's your competitor. 3. If you are close, within thousands of the bid you lost or based on your research, you just need to evaluate all of your costs. Then decide where you can cut cost just a little bit more 4. If there is a huge difference you probably are using commercial rates, your markup is TOO HIGH. 5. You can not price services or products for government as you do in the commercial industry. If you mark up, it must be between .05%-.07%. The only exception is if you are the only game in town. 6. You need to peel back the layers to determine what’s really going on, why did you loose or why is your pricing much higher then previous awards. 7. Go to USASpending.gov to run a report on similar awards based on PSCs or NAICs - See what you can find in USA Spending & or FPDS – use last 2 Fiscal Years, under (Sub Awarding Agency) or use competitor information 8. Try to find the award in USASpending.gov on the report, sometimes you can find the exact contract, if it is an existing requirement. 9. If this in an existing requirement, you will likely find it 10. Compare your submitted bid to the solicitation awarded previously, AND compare to the bid you just lost, if applicable. Note the differences in quantity, pricing, etc. 11. Pay attention to your research, locate your competitors when you are conducting research, note types of awards, PSCs, NAICs that are winning, services, products, agencies they are working with, etc. 16. IMPORTANT: When analyzing reports,, make sure you add PSCs, NAICs and key words to your SAM profile and Small Business Dynamic Search. Federal Buyers (Contracting Officers) will be looking for you just like you are looking for them