As knowledge of your company spreads, you will likely received Request for Proposals (RFP).  I receive these frequently because of involvement with state/local government organizations.  But medium to large corporations will use them as well.  RFPs can be extremely time consuming so make sure it is worth it before you even get started.

A RFP is a detailed document outlining a service the potential client would like you to perform.  This will include specifics of work to be performed, timelines, deadlines, and more.  It will be many pages in length.  Your company will then respond to each item of requirement in a detailed fashion.

The biggest question is always, should I reply.  I am faced with this same question each and every time.  I “know” that responding to a RFP is likely going to take anywhere from 3 - 10 hours spread over a few days so it comes down to the math.   What is the potential profit of this deal?  Does it exceed my investment of 3 - 10 hours by a multiple of at least five?  If so, then I will respond to the RFP.

There is sometimes a clause that says even if you do not want to respond to this particular RFP, but you might be interested in future RFPs, respond and let them know.  That’s just common sense, but make sure you reply and let them know you would be interested in future RFPs.  You never know when the right one will come along.

-Zachary M. Morvik