You may think that government contracts are only for large corporations, but this isn’t the case.
Small businesses can and do win government contracts on a regular basis.
Although, as with every other endeavor, it can be quite difficult to secure a government contract at the federal level. But with good preparation you can be successful.
If bidding for federal government contracts seem quite intimidating for you, you may start with local and state governments.
In this piece, Billionaire Oil magnate tells us general tips to take note of in bidding and winning government contract…
1. Decide what to sell.
The first thing you must do is figure out what products or services you will sell to which agency.
Identifying a product or service that a federal agency needs is key. That’s why you must do your homework and try to identify a product or service the agency needs–but that it doesn’t know it needs and which you sell.
2. Make Relevant Connections and Contacts
Research and find out key players in those agencies and make contacts with them. Find out their other suppliers and identify an entry point. Build lasting human relationships.
Sure, government can seem impersonal, but relationships are very important. Don’t lean on phone calls and newspaper ads only.
While filling out the forms is a prerequisite, get out of the office, network, and try to meet the decision makers both in the government and in the large contractors. And do it in person, if possible.
3. Get Comfortable With all The Paperwork.
If you want to do business directly with any Government, your company needs to be registered with the relevant bodies.
In some instances the specific Government in question requires that you are registered with some kind of associations and obtain the required papers and certification
Be sure to have all facts in hand and get all paper works done in advance.
4. See if You Can Work With Bigger Contractors.
For all the government contracts out there, landing them isn’t easy.
Another way to get federal is to work as a subcontractor for larger companies. These big contractors usually maintain their own databases of potential subcontractor partners, and you have to register with them separately from the government’s offices.
5. Have Faith. Be Focused. Keep Trying
Selling to the government is different than selling to the private sector. Extreme aggressiveness can be perceived negatively and might be a deterrent rather than an incentive.
Don’t be too quick to quit.
6. Build Good Profile
Be very realistic about your capabilities. The government relies on past performance when deciding to award a contract. If a business gets in over their heads on their first government contract, then chances of repeat work are slim.
Start with a smaller project you know you can do well and prove yourself.
7. Socialize, Attend Government Events and Learn
Seek out organizations, government events—including your local or regional Chamber of Commerce, ministries or nearby schools—that offer tutorials, seminars, online classes and other guidance that can help you through the process. Some cities also have a federal procurement office.
8. Research Past Bids Which Are Public Record
Make sure your bid is low but also realistic. Significant past award information and raw data are your best friends.
Use data analysis tools and techniques to target those contracts you have the highest likelihood of winning.
9. Write a Compelling Bid
Follow the rules and regulations of writing a bid. Utilize the services of an attorney or consulting firms and other resources in this
Make sure your bid is clear and points out the direct benefits of working with your company.
10. Consider Partnering With Another Business Over Specific Contract/Bid
Some government contracts can only be awarded to certain kinds of businesses. If your business doesn’t fall into one of those categories, it may be helpful to pair up with a business that does.
If you can make these things happen, a contract will be as good as yours. I wish your you Godspeed in your quest to succeed.
Let me know what you think