The Army and major contractor, Lockheed Martin have joined forces.  The Army Combat Capabilities Development Command’s Army Research Laboratory is teaming up with contractor Lockheed Martin Corp. to develop new synthetic materials to support the warfighter.

The recent five-year agreement cements a commitment to invest in synthetic biology. The intent is to enhance Army operations with improvements to advanced specialty paints for corrosion and protection; high-performance optics for drone sensors; and repair of parts and systems for expeditionary forces, according to an Army release. Applications could also include the civilian market, such as development of non-toxic paint with anti-fungal and anti-mold protection and reductions to the size, weight and cost of diagnostic and surgical devices. A formal program launch is set to be announced later this year.

Officials said the collaborative effort leverages a current tri-service synthetic biology Department of Defense Applied Research for Advancement of Priorities program, the Army’s Institute for Collaborative Biotechnologies and the Army’s Open Campus framework to co-locate academic, Army and industrial personnel in regional technology hubs of Boston, Massachusetts, and Austin, Texas.

The U.S. Army Combat Capabilities Development Command’s Army Research Laboratory is the Army’s corporate research laboratory and known a ARL.   Under the agreement, ARL and Lockheed Martin will develop rapid prototyping methods using bio-production and self-assembly to create the building blocks of novel materials for defense optical technology and protective coatings.

The collaboration envisioned in this proposed effort will be wide-ranging, and will involve personnel, material, data, models and method exchanges bringing synthetic biology solutions to the Soldier..

Both ARL and Lockheed Martin have several research laboratory locations and personnel and facilities in the Boston and Washington, D.C., metropolitan regions to include ARL Northeast, which will aid in the collaborative exchange.

Initial efforts of this agreement are focused on understanding materials integration challenges with a focus on early wins in protective coatings.
ARL and Lockheed Martin will be working closely with both DOD and commercial company partners that align with DOD’s Engineered Resilient Systems, Materials and Manufacturing Processes, as well as Army and DOD science and technology ecosystem for early adoption of synthetic biology products.

Officials are planning a formal program launch to be held later this year.

By Debbie Gregory.

One can start a business at any age.   When you are young, there clearly is more time to recover if things don’t work out.  At the same time, many younger Veterans are raising their families and cannot afford to take some of the risks associated with entrepreneurship and beginning a new business.     When one is more mature in years and life, often it comes with more time, experience, knowledge and financial stability.  It may be the perfect time to begin a new venture as a Veteran Business Owner.  Older Business Owners bring a lot of assets.  Can you imagine a dream team of both older and younger joining forces to start a Veteran Owned Business?  Below are some of the assets that older Veteran Business Owners bring:

• Financial Stability  – They  have had more time to build up savings and invest your money. As a result, they likely have more money to invest in a business without it being as a big of a risk.   They are often done with mortgages, car payments and college expenses.   It is much easier to secure investments and get loans with better terms as an older business owner too.
• They Know What You Want Now – Older Veteran Business Owners have had more time to consider what type of business they want to begin.  They know themselves better, what they like to do, what they are good at doing and can create a business that is the right fit for them.
• Their Level of Experience – Hands down older Veteran Business Owners have more experience than younger Veteran Business Owners.  They have already made more mistakes and can use this experience to avoid them in the future.  Their level of insight is much greater than someone younger without the same life, work and business experiences.  They understand how important it  is to have a comprehensive business plan or roadmap.  Additionally, they also understand how important it is to live within their means and adhere to their budget.
• Networking & Connections – They have been living life longer and have a much larger professional network of connections that are established in specialty areas of technology, finance and accounting, legal, marketing and more that can be a network of excellent “go to experts”.

I love the combination of young and more mature entrepreneurs joining forces.  Younger entrepreneurs have grown up with the latest technology and understand how to make it work.   Often older entrepreneurs make awesome mentors too.  They have a special level of energy and enthusiasm and a completely different point of view.  If you combine younger entrepreneurs with entrepreneurs with greater maturity who are more financially secure, with experiences and established connections, it can be a winning team.

We invite you to join VAMBOA, the Veterans and Military Business Owners Association.  Membership if free and here is the link to join:  https://vamboa.org/member-registration/

By Debbie Gregory.

Prime contractors work directly with the government. They are responsible for ensuring that the work is completed as defined in the contract. But most prime contractors work with subcontractors. In fact, some government contracts actually require large companies to subcontract with a small business. This creates more opportunities for small businesses to get involved in federal contracting.

So, what do you need to do to become a subcontractor?

The first step is to make sure you have all of your company’s registrations and ID numbers. This includes your Dun & Bradstreet (DUNS) registration, your System of Award Management (SAM) registration, including your NAICS codes (a free and user-friendly process) and any other designations that may qualify your business for set-asides, such as veteran-owned, service disabled veteran owned, woman owned, minority owned, etc. Keep in mind that a 51% ownership stake is required on the part of one or more of the business owners to be certified as eligible for one or more of the set-asides.

Make sure you have access to sufficient financing to cover the period between beginning the work and receiving invoice payments. You will likely be required to demonstrate the availability of this financing prior to being awarded a subcontract.

Next, identify the major prime contractors that do significant work for federal agencies where there may be a logical fit for the services you provide. There are a number of ways to identify these potential targets such as FBO.gov and the Department of Defense’s (DoD) Subcontracting Opportunity Directory.

Research the company and identify not only the contracts they have performed but also their small business and diversity initiatives, main mission and vision. Identify the Small Business Liaison Officer or Diversity Officer within the company and ask specific questions about identifying bidding opportunities. Have a targeted capabilities statement ready, identify the areas that you believe you could assist with, note specific projects that they worked on and discuss where you would be an asset.

Be sure to follow up. Remember, there is one of them and thousands of you, so you have to make sure you do what it takes to make them know YOU.

Veteran and Military Business Owners Association, VAMBOA,

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,

By Debbie Gregory.

When your small business faces a cash flow issue or sluggish accounts receivable, one alternative to consider is factoring.

Factoring is when a business sells their accounts receivable or invoices to a third party, known as a factoring company, at a discount. In a typical factoring arrangement, the client (you) makes a sale, delivers the product or service and generates an invoice. The factor (the funding source) buys the right to collect on that invoice by agreeing to pay you the invoice’s face value less the discount, which is typically 2 to 6 percent. The factor pays 75 percent to 80 percent of the face value immediately and forwards the remainder (less the discount) when your customer pays.

Even though invoices are sold to the factoring company at a discount, the arrangement gives your business immediate funds for the invoices.

Once used mostly by large corporations, factoring is becoming more widespread as it provides a win-win situation for both parties involved. Factoring is not a loan; it does not create a liability on the balance sheet or encumber assets. It is the sale of an asset; in this case, the invoice.

Factoring usually consists of two parts, beginning with the advance, and ending with the rebate,

One of the advantages of factoring is that your company gets money quickly rather than waiting the usual 30 or 60 days for payment. After sending an invoice to a factoring firm, a business can usually have money in its hands within 24 to 48 hours. Another advantage is that you can use the instant cash to generate growth or buy needed equipment. Furthermore, unlike traditional bank loans, factoring doesn’t require you to risk your home or other property as collateral.

On the downside, factoring will have an impact on your profit. And once you accept cash for your receivables, you give up a measure of control. For example, the factoring company could deny your ability to do business with a particular customer if they have a poor credit history or rating.

Factoring can be a great solution when your business needs a solution to short-term cash crunches. To find the best factoring company, make sure you understand your business’s needs and ask the right questions of the factoring companies, taking care to avoid getting locked into contracts or paying hidden fees.

Veteran and Military Business Owners Association, VAMBOA,