To bid or not to bid?

An interesting opportunity came up today. One of the groups that we’re a member of sent out a notification of a couple of tenders – one for branding / printed materials and the other for a website for a company down here. Sounds like a really interesting project. What we’re trying to decide is whether to have a stab at bidding for it. It would be a fantastic opportunity for us to work on a larger project, buy viagra however we’re not sure that we’re ready for something quite that big.

On the one hand it would be a brilliant experience for us. If we don’t get it then we will have had the experience of putting a bid together, treat which is something that we can draw on later. If we do get it then we will have a high-profile website to go in our portfolio. But on the other hand we’re nervous about biting off more than we can chew.

What’s the best approach? Do we say, “ok that’s an interesting project but we’re not in the right place for it at the moment, we’ll keep working on building our business and keep our eye open for other opportunities”? Or do we say, “sod it, let’s give it a shot – you never know, we may get it and we can figure out the finer details on the job”? Are we being risk averse if we don’t go for it or does it mean that we’re recognising our limitations?

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