#8: “It does not do to leave a live dragon out of your calculations, if you live near him”

(J.R.R Tolkien, The Hobbit)

Now I’m not saying that competitors are a threat to your personal safety, but they can be a affect your business, therefore it is advisable to carry out some form of competitor analysis on the incumbent supplier on a contract. How do they sell themselves? How long have they been servicing the contract? Are they doing a good job? Are the very basic questions you should ask, alongside looking at their financial reports, how they market themselves and the product and services they offer to see if any value adds are apparent.

It is highly unlikely you will be given information relating to the incumbent and the current contract, but online research may uncover reviews and other competitor information that can offer the insight to help you improve your bid. Rest assured your competitors will be carrying out research on you!

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