SOQ's and Proposals Are Table Stakes

Submitting a statement of qualifications (SOQ) for a project is table stakes. It is easy to believe what we write and present in an SOQ is what wins the project. It is not! The SOQ/proposal is the minimum entry requirement for the right to compete for the project. So where exactly does an SOQ/proposal fit into the sales process? How much weight does it really have in the final selection of a firm?

Here are the most important factors that determine a project win.

1. Do we have a relationship with the client and is that relationship current? By current, I mean have you spoken with the client in the past 1-3 months?
2. Did we know about the project before the RFQ? If yes, the odds of winning go up dramatically. If no, the odds of winning go down . . . DRAMATICALLY!
3. Do we have past projects with the client that were successful?

Notice that the three most important factors to winning a project have little to do with the SOQ/proposal. By the time the client is reading our submission, they should know who we are and trust us. The SOQ/proposal is the final step (besides a shortlist and interview) that should seal the deal. The data we provide in an SOQ/proposal should be justification for the client selection committee to select us.

What an SOQ is NOT! An SOQ is not . . .

1.  a sales pitch,
2. a way to introduce your firm,
3. marketing collateral to get a client to notice you,
4. a business obligation because you received an RFQ/RFP,
5. an excuse to make up for poor business development or client nurturing.

So, the next time you receive an RFQ/RFP by surprise from a client you do not know, think seriously before pursuing it. Let’s put our best efforts into proposals where we know the client, have a good relationship and have a high probability of winning!