Nothing is more expensive than a missed opportunity. Except, of course, pursuing the WRONG opportunity – that is a far costlier mistake.
Recognizing which opportunities to pass on is as important a skill as any in your business development (BD) approach. Unfortunately, it is common practice to sift through opportunity announcements looking for requirement descriptions that most closely align with organizational capabilities. I say “unfortunate” because this path usually leads to writing many proposals pursuing opportunities with a low probability of win (Pwin). Without a proper assessment, Pwin is unknown (at best) AND often falsely assumed to be high based solely on the alignment of organizational ability with the published requirements. Ability to meet the job requirements is where many assessments start, but it’s much more important to know IF you can win. Continue reading “Take a Critical Assessment of the Opportunity” »