[ While a lot of our readers are already heavily involved in government contracting, there are a good proportion who are contemplating making the leap. Today’s guest blogger is an expert on the topic, as well as a great person to know! — LWF ]
Guest Author: Judy Bradt, Principal and CEO of Summit Insight LLC
America evidently wants change. With a new administration on the way, there are going to be a lot of emerging opportunities in the federal government for professional services firms — opportunities that could offset a cautious commercial market.
Good news: you don’t have to be a corporate giant to win government contracts. If you run a healthy business and are already selling successfully in the private sector, government buyers could represent an untapped market. Imagine finding new clients in places your competitors aren’t even looking!
Pursuing those opportunities will take an investment that could bring your company long term growth… or waste valuable corporate resources. Here are five ways to determine whether you’re ready to take on the world’s biggest buyer. Do you have:
- Strong Performance Today & Determination For Tomorrow?
Government customers want reliable suppliers with established track records. Some contracts explicitly require vendors to show a couple years’ commercial track record in order to be considered. - A Unique Value Proposition – For Government?
Successful vendors have researched exactly which government buyers benefit most from what they offer, and craft their marketing campaign precisely to reach those buyers. They can articulate in the buyers’ language how their offering stands apart from the alternative options the buyers have. - Relationship Mastery?
Successful vendors know that when you sell to government, you’re not selling to a process or an order machine. Government buyers do business with people they know and like and trust, people who understand their needs exquisitely. - Focus On Details?
Government buyers use complex rules that vendors must know. Companies who hold government contracts — whether as a prime contractor or a subcontractor — must be aware of and comply with dozens of precise requirements. Non-compliance can bring instant death to a proposal you spent thousands of dollars and weeks of time to prepare. - “Know-Who,” Not Just Know-How?
Spend smart, but don’t skimp. Successful contractors engage experts and invest in market research to develop cost-effective government marketing strategies. They’re visiting the perfect prospects — and shaping requirements — long before contract notices are posted online. They shop around for the best insider experts who can help them target the best opportunities, connect them with the right partners and buyers, and plan for critical marketing activities and expenses.
Judy Bradt, Principal & CEO of Summit Insight LLC of Alexandria VA, is an author, speaker and consultant who has been covered by Entrepreneur Magazine, Fortune Small Business, the Financial Post, ABC Radio, PINK Magazine, SBTV, CTV, Rogers Business Television. You can learn more at www.summitinsight.com.
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