Tom Searcy shares in this post an experience where he advised a client to decline a request for proposal.
When looking for a new vendor or partner of some sort, everyone says they want the best possible partner for their goals given what they have to invest. Yet, too many requests for proposal appear designed to actually push those companies away. They are overly prescriptive, include pages of legalese, and ask irrelevant questions. Send it to too many firms and the best will drop out simply because the percentages aren’t in it.
The best, healthiest, companies have criteria for which prospects they want to pursue. Especially for a growing company, bad business is often worse than no business. Check out Tom’s post and some of the links he shares to get a sense of how the other side of the table approaches this.
A poorly designed or overly distributed RFP is unlikely to draw the best candidates. You may be left sorting the chaff while the wheat goes looking for a better baker!