From an economic standpoint, competitive barbecue makes no sense. In a Kansas City Barbecue Society event, teams turn in six individual portions of four meats: 6 (chicken, ribs, pork, and brisket). A typical entry fee is $300; travel and transportation costs for pulling your big rig total $200 or more; charcoal, wood, ice, rubs, sauces, and incidentals add another $200. And meat – oh, the cost of meat: most teams cook 36 to 50 pounds of incredibly-expensive Wagyu brisket to turn in six perfect slices. Meat costs can easily top $500. When all is said and done, the cost of a typical contest easily tops $1,000. And sad to say, prize money when (if!) you win may not cover those costs. And we haven’t even talked about the costs of beer and other “adult beverages”… As a result, pitmasters limit the competitions they enter to those which will help them achieve their goals. In my case, I focus on competitions within driving distance of my home which have (a) decent prize money, (b) a relatively small number of competitors, (c) a high proportion of certified (vs amateur) judges, and (d) good public attendance (i.e., good marketing) potential. I’d love to compete in a contest near my daughter’s home in Nebraska, but that wouldn’t help me increase my catering business’ name recognition in the central Maryland area I can reasonably serve. In the business world, similar constraints apply. Winning companies pursue opportunities that will help them achieve business goals. Notice I did not say “perform profitably.” In today’s hyper-competitive world, businesses commonly pursue money-losing efforts because they achieve longer term objectives like improving name recognition or supporting growth into adjacent markets. They ruthlessly discard pursuits where they have limited customer intimacy, poor knowledge of potential competitors and solutions, or have no discriminating solution. Like winning pitmasters, they pick and choose their competitions – and believe that they will win every bid they submit.
- Profit & Fee Are Good Things, But They’re Not the Only Things
- Total Evaluated Price (TEP) v. Performance: What’s the Difference?
- Winning in the Federal Marketplace: Does the Incumbent Still Have the Advantage?
- Assessing the Competition with a Non-Cost Evaluation Model
- How to Assess Your Competitors Without an RFP