In a bidding situation, what is the best approach if you find out you are the higher bidder?

In a bidding situation where you discover that your bid is higher than the competition, maintaining your original price while emphasizing your company's strengths is a strategic approach. This method allows you to position your bid as justifiable rather than simply lowering your price to compete. Highlighting your strengths can include showcasing your experience, quality of work, specialized skills, or excellent customer service. By doing this, you can convey to the client that the value you bring far exceeds the initial cost difference.

This approach helps build your reputation as a quality contractor rather than a low-cost provider, which can lead to more sustainable business relationships in the long term. Clients often appreciate transparency and the rationale behind higher bids if they can see the added value in the services offered.

Other options, such as reducing the price immediately or quitting the bidding process, may compromise the perceived value of your business without clearly communicating the benefits you provide. Increasing your bid does not address the competitive landscape and can exacerbate your position as the higher bidder. Thus, emphasizing your strengths while maintaining your price effectively balances competitiveness with the integrity of your professional offerings.