The Death Of The RFP

Why do businesses still use RFPs? Requests for proposal don’t make a whole lot of sense. Why would a company spend thousands of dollars preparing a proposal if it isn’t going to lead to any business? The shocking fact is that 95% of companies still use RFPs because “that is the way it has always been done.” Unfortunately doing things the way they have always been done is a recipe for exnovation. If you want to find creative new solutions to your business problems, you have to be willing to try something new.

Ditch the RFP and try the POV instead. Proof of value is a scaled down, less costly version of an RFP. Instead of outlining the entire project, its phases, and deliverables, instead focus on the value of the service or goods your company intends to provide, pulling data from previous jobs if necessary. This will completely streamline the process of looking for and getting new business, while opening up the requesting companies to new perspectives and innovative ideas.

Learn more about the death of the RFP from this infographic.

Brian Wallace is the Founder and President of NowSourcing, an industry leading infographic design agency , based in Louisville, KY and Cincinnati, OH which works with companies that range from startups to Fortune 500s. Brian also runs #LinkedInLocal events nationwide, hosts the Next Action Podcast, and has been named a Google Small Business Advisor for 2016-2018. Follow Brian Wallace on LinkedIn as well as Twitter.

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