In business development, it is never a welcome thing when you see a person with something that is similar to what you are bidding.All unclassified opportunities should be posted by the government. The posting should be done on FBO touching on the opportunities worth over $25000 and you can read more here. By the time you see the opportunities in FBO, your competitors have probably seen the same. As a result, FBO will not be of much use to you if you want to do bidding.
Indeed, you may be discouraged to learn that your competitors may have accessed the opportunities for some reasonable time before you and there is more info here.If you pick an opportunity while you are late in the game, your chances of winning are minimal.However, this does not mean that FBO is totally useless in business development.This doesn’t mean that by any standards, FBO is totally useless when it comes to business development. Read more to know the reasons behind this.
The usefulness of FBO cannot be over emphasized but visit this website here!. First of all, consider something like market research. The many businesses that succeed are the ones that conduct market research from time to time. Research will reveal market trends for the investors. Without a proper knowledge of the market trends, an investor cannot know the best course of action he should take to align with the needs in the consumption arena and you can see the homepage. Your consumers can be identified with FBO.
With FBO, you will be able to know the companies that are winning the contacts. Again, it will be east to know the companies qualified for sole sourcing. Understand that these are the competitors you battle. The other thing is to then look at your interest where you can bid in.
Again, you can use FBO for planning and educational purposes whereby you can know upcoming opportunities. Your area of interest and the type of opportunities available will be clear with the aid of FBO. FBO will also make it possible for you to know what people buy.
There are other times when you may chance to access an opportunity in FBO which is in its initial stages. In such instances, bid since the chances of your winning are not diminished. What you must do is start preparing with no more waiting.
Another usefulness of FBO is that it is easy to know the registered companies for receiving notifications on RFPs. Your competitors will be easy to be analyzed if you are in possession of this information. You will get a competitive edge above your competitors If you get this information.
With FBO, you are actually able to market yourself and make sure that the government and the partners know that you are an interested vendor.