Process 2: Qualify -- Can We Win ?
There are three foundational questions we needed to ask to identify and analyze the opportunity for further consideration:
Is the opportunity real?
Do I have solid past performances as a prime / sub?
Does my company or my teammate(s) have a strong relationship with the customer?
At this point, we’ve successfully answered the three questions above and received concurrence from our Executive Management Team that the interest is strong enough to declare “Pursuit”. Now, it is time for us to further “Qualify, Qualify, Qualify!!” I’ve determined that the opportunity is real; but is it real for me? We have a whole lot of qualifying to do. Frankly, this activity sets the disciplined and successful business development teams apart from the rest.
Throughout the qualifying activities, you determine if the acquisition is real from the customer's perspective. You consider your company's market position to see if it's the right fit for the firm. You determine if you possess the appropriate customer intimacy for the pursuit. Then ask the tough questions. Do you need to bring in partners to help with the market position or customer knowledge? What is the competitive landscape? Are there potential organizational conflicts of interest (OCI) for both your company and your partnership? Do you have the funding and resources to make a good chase? All answer that final question;
“Can We Win?”
To collect the data needed to decide whether to invest the resources and effort to pursue an prospective opportunity
Excerpt - "In Pursuit - Business Development Life Cycle" (c) 2019