RFP Academy: Amateur Hour

Your RFP says a lot about you. If it’s not tight and thorough, many vendors will assume that you are not a sophisticated buyer. This can lead to sidestepped due diligence questions, opportunistically spun answers, and flashy sales pitches that don’t cover (or uncover) important issues.

When I was an advisor, we occasionally saw RFPs that were cobbled together from several different RFPs, repeating questions and occasionally being completely off topic. -Jim Scheinberg, North Pier Managing Partner

If you going to go it alone, organize your RFP process. Answer each question concisely and stay on topic. Then, engage someone who sees RFPs all the time to check your work before you send it out.

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