Preparation to Win Government Contracts
By Debbie Gregory.
Government contracts can be very lucrative, and that’s the reason why so many big companies go after them. You may be wondering what separates the small firms that win government contracts from the ones that don’t?
First and foremost, before you invest your time, money and energy, make sure you’re selling what a federal agency is buying. It’s not uncommon for firms to invest tens of thousands of dollars in prep work applying for government contracts. You wouldn’t want to waste those resources if your product/service is not something they’re in the market for. Uncover their needs and deliver a proposal that solves their problem.
The federal government will want to see that you’re financially sustainable and reliable. Is your business financially healthy, and do your financials show positive cash flow? Does your company or any of its principals owe back taxes? Address these areas before presenting your business to procurement officials.
Small or new contractors should find teammates, alliance partners or mentors with whom they have a business and cultural compatibility. Doing so spreads the risk, extends the experience and gives them a much deeper bench of talent. This is especially important if you haven’t yet attained a proven track record of past performances with customers. Make sure your staff is able to respond to the demands of the contract. Consider outsourcing services if necessary.
Make yourself known to government agencies. Attend as many outreach events as you can. These events are excellent opportunities to meet key personnel as well as strategic partners for future collaboration. Network with your peers and other like-minds to bounce ideas off of or seek experienced advice. Create brand consistency. Make sure your website, all of your marketing collateral and social media sites represent and reflect your organization in the best light.
Make sure that you have a strong, compelling and solutions-driven capability statement that focuses on your organization’s strengths. Identify what makes your company unique. What do you have that others don’t? Technology? Inventions? Patents? Methodologies? Find a differentiator and highlight it. Be sure to include your certifications.
Remember, the government values past performance above almost all other criteria. If you win a bid, do a great job so that you can use that agency as a reference of past performance, and continue building your government business one contract win at a time.
Veteran and Military Business Owners Association, VAMBOA,
