By Debbie Gregory.

If you’re ready to steer your company towards government contracting, there are a few important steps to make sure you follow to increase your chances of success.

Make sure you have registered on System for Award Management (SAM), the database used by the government to find qualified contractors, and where larger contract-holders, and small business teaming partners seek qualified subcontractors. To do so, you will need the following:

– Your DUNS Number, Legal Business Name, and Physical Address from your Dun & Bradstreet (D&B) record. (If you don’t already have one, you can request a DUNS Number for FREE from D&B.)

– Your Taxpayer Identification Number (TIN) and Taxpayer Name associated with your TIN. Review your tax documents from the IRS (such as a 1099 or W-2 form) to find your Taxpayer Name.

– Your bank’s routing number, your bank account number, and your bank account type, i.e. checking or savings, to set up Electronic Funds Transfer (EFT).

Identify who will be buying your services and research your customer. You can research potential agency customers online to learn about what goods and services they are looking for so you’re able to narrow down which ones to target. Many agencies post their procurement forecasts, identifying what contract requirements they are seeking.

Check out www.fbo.gov, an online listing of government contracts that detail all contracts with a value exceeding $25,000. Another available resource is www.usaspending.gov, a site that details how government money is spent, what agency is issuing awards and who the federal government is buying from.

While it can feel overwhelming at times, securing a government contract can be very lucrative. Be ready to put in the time and energy, and stay persistent in your efforts. For companies aspiring to become government contractors, there’s a lot to learn. But the benefits of government contracting are worth the challenge, creating new customers and accelerating your business to the next level.