One bid in four wins. The other three are paid for out of delivery.

Two firms with identical win rates can have wildly different acquisition economics. The difference is rarely how often they lose: it is when, and who pays.

By Steve 5 min read
Abstract bridge artwork for One bid in four wins. The other three are paid for out of delivery.

Most professional services and project-based businesses track win rate. Far fewer track what the losses cost, and almost none track where in the process they occurred. This matters because win rate is a ratio, and a ratio hides everything about the numerator’s price. A firm winning one bid in four might be running an efficient acquisition engine or quietly consuming a fortnight of senior delivery capacity every month to produce nothing. The ratio looks the same in both cases. Cost per win, not win rate The useful unit is cost…

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