The success of your security company is directly proportional to the number of security contracts that you are able to execute per week, per month and even per year. So, in essence, you need to perfect your marketing strategy before launching your security company. The truth is that one of the major reasons why businesses fail is because they cannot generate enough revenue to meet their overhead and running cost.
Since you are into the security business to make money, then you should be up and doing when it comes to bidding for security contracts. It is important to state that there are competitions amongst security companies and general contractors, and what will give you an edge over them is your understanding of the market and your on-the-job delivery techniques.
Your track record is also another very important factor that will enable you bid and win security contracts. So before bidding for any security contract, it is important to ensure that you meet the laid down requirements if you want your organization to be taken seriously. Here are few sure-fire tips that will help you successfully bid for and secure security contracts.
10 Tips on How to Bid on Security Contracts Successfully
Table of Content
- Ensure That Your Organization is Dully Registered
- Ensure That You Pay Your Tax Regularly and You Have the Needed Insurance Cover
- Prepare a Compelling Corporate Profile for Your Security Company
- Ensure That Your Company Meets the Bid Requirements Before Applying
- Acquire Every Relevant Certification, License and Permit in Your Industry
- Be Competent at What You Do
- Build Your Network
- Build Your Capital Base
- Perfect Your Presentation Skills
- Be Prompt in Submitting Your Bid
Ensure That Your Organization is Dully Registered
If your intention is to bid for corporate security contracts, then you must make it a point of responsibility to register your security company with the government of your country. No organization will take your bid seriously once they realize that your organization is not registered with the corporate affairs commissions of your country.
Your organization must be legally registered for you to be able to do business in the corporate world. Choosing a legal entity for your business can be straightforward especially if you decide to grow the business big. Please note that when it comes to choosing a legal entity for your private security company, you have the option of choosing a general partnership, a limited partnership, an LLC, a “C” corporation, or a “S” corporation.
It is important to state that these legal structures have their own advantages and disadvantages; which is why you must weigh your options properly before making your choice on the legal structure to build your private security outfit on.
Ensure That You Pay Your Tax Regularly and You Have the Needed Insurance Cover
Every organization that seeks people to bid for their contracts would always attach conditions and expectations from organizations who intend bidding for the jobs. One of such conditions is that you have paid your tax up to date, with tax clearance from your country and state tax office. Another requirement is that you must have the appropriate insurance cover. You can talk to your insurance broker to ensure you have the needed insurance cover for your security company.
Prepare a Compelling Corporate Profile for Your Security Company
One important factor that will give you an edge when you bid for a security contract with loads of other competitors is your company’s corporate profile. Once bids are submitted, one of the screen processes they will be subjected to is review of the various company profiles that bidded for the advertised contract.
So, part of what you need to do if you want to successfully bid and win security contracts is to prepare a compelling corporate profile for your security company. If you don’t know how to write one, you can contract it to an expert to help you do it. It is important to include the list of the organizations you have worked for in your company’s corporate profile especially if they reputable. It will give you some form or advantage.
Ensure That Your Company Meets the Bid Requirements Before Applying
What is the use of submitting a bid to a company if you know you do not meet the bid requirements? As a matter of fact, some organizations will clearly state that your organization must have been in full operation for at least 5 years and must have handled similar contracts before your bid can be considered.
Of course, it is good to always try your luck if you have the opportunity to do so, but if indeed you want to successfully bid for a security contract, it is better to have met the requirement set by the organization calling for the bid before applying. That is only when your organization can be taken seriously.
Acquire Every Relevant Certification, License and Permit in Your Industry
It is very important to acquire every relevant certification, license and permits that is required in your industry before bidding for any security contract. Your certificate, license and permits will give you advantage over your competitors who don’t have them. The security industry is one of the industries that is highly regulated so as to prevent costly security breaches that endanger the security of the country.
So if you are looking towards starting a private security company, then you should acquire international security certifications. The truth is that the more relevant security certifications you have, the easier it is for you to convince people to patronize your services. Here are some professional certifications that you or your key staff should look towards acquiring;
- Certified Security Project Manager (CSPM)
- Cisco Certified Security Professional (CCSP)
- Certified Security Compliance Specialist (CSCS)
- Certified Information System Security Professional (CISSP)
- Industrial Security Professional Certification (ISP®)
- Global Industrial Cyber Security Professional (GICSP)
Be Competent at What You Do
You just have to exhibit high level of competence in your field when given the opportunity to do so. When bidding for security contracts, make it a point of duty to always refer the committee in charge of screening bids to your past jobs (that is if you have done a brilliant job in time past) it will always be to your advantage to do so.
Build Your Network
Your interpersonal skills and networking skills will often come to bare when bidding for a security contract from the government or any corporate organization. The truth is that competence alone can’t secure you a security contract, but the people you know in government or in the corporate world will always work to favor you.
For example, if two people that have same level of qualifications and competence bid for a security contract, and one of them has a relationship with someone in the government agency they are bidding for contract from, definitely he stands a greater chance of getting the contract.
Build Your Capital Base
Despite the fact that you will be mobilized when a security contract is awarded to you, in some cases you might have to use your money to complete the job before you will be paid. As a matter of fact, before security contracts can be awarded to any company, the government or corporate organization will ensure that they do a background check to be sure the company can successfully execute the project and part of what the look at are your years of experience and your capital base.
Perfect Your Presentation Skills
In case you don’t know this, lack of good presentation skills has deprived loads of security contractors from securing juicy contracts despite the fact that they are highly competent. No matter what you know and what you can do, if you can’t sell it to people, you will have a challenge winning them over as your clients. So, ensure that you perfect your presentation skills before bidding for security contracts from the government or corporate organizations.
Be Prompt in Submitting Your Bid
Another factor that will give you an edge when biding for a security contract is to be prompt in submitting your bid. If possible, try and submit your bid within 24 hours of the advert; it will indicate that you are prepared for the job and you are willing take on the job if it is given to your organization.
In order to achieve this, you must make sure you have a template / draft of a bid; a generic bid that can only be tweaked and adjusted to meet the present bid you intend submitting. The truth is that most bid follow the same format with just little variations.
Lastly, it is one thing to successfully bid for a security contract and it is another thing to be able to deliver when the job is awarded to your company. That is why it is very important to ensure that you have what it takes to deliver before biding for the job. The truth is that the more success you have in executing a security contract, the easier it is to get more security contracts.