Recently I have seen many different people make comments about how software technology is not very helpful within the worlds of capture management and procurement. And while that may help to explain why so many contractors still rely on Excel spreadsheets and emails for NDA’s, TA’s and SubK’s, avoiding government-focused technological solutions is only committing a disservice to yourself.
When it comes to selling to the government, many times there are so many opportunities available to you and your team that you may just have to stop and evaluate your options before you get too far down the road of spending your money. After all, just because the possibilities are attractive does not mean that you should bid them, and it certainly does not mean that you will win them. So why should you waste all your resources trying?
In the coming years, there will be lots of opportunities for businesses that depend on government contracts. But how do you find the ones you can successfully capture?
Second only to projecting sales, your capture management tool of choice is a key indicator of your capture management team’s performance and is also what keeps accumulated data about each prospect in one place. Its active monitoring begins the day your Capture Executive (also known as a Capture Manager or Capture Executive Manager) starts work. At that moment you with understand that your capture management team will change over time, and thus you may be faced with extreme difficulties when your Capture Executive leaves for other opportunities.
Of the 58 percent of companies that track their company’s wins and losses, the majority use Microsoft Excel as their Pipeline solution. Why might that be?
Well, for those companies that really want to track the basics about each opportunity AND only have one or two sales people, then Microsoft Excel as a CRM solution serves its purpose. You can easily create a running total of wins, and a running total of losses; and each can be easily stored, organized and understood. But once your sales team begins to grow and find more opportunities, now your Capture Executive (Capture Management) team is ready for a more advanced solution that can handle more strategic capabilities; perhaps Microsoft Excel should no longer be your Pipeline system.
Take a look at the habits of successful leaders in your industry or your company’s area of expertise. By cultivating these same habits or by looking for them in your employees and consultants, you can identify employees most likely to lead your business through a successful capture management strategy.
Everyday, regular tasks become habits because they are recognizably and predictably essential for success, and you should always stock up your company’s cupboard with everything you need to improve your capture success rate. Read More
Hiring a consultant can save your company a lot of money on your capture management process, but only if you find the right one. When you hire employees, you have control over how they spend their working day. However, when you work with consultants, they often have more autonomy.
Capturing and winning government contracts is a way to ensure a stable source of income for years to come. During lean economic times, government contracts can help keep the doors open, and during boom times, these contracts can fund expansion.
A key part of the the capture management phase, Black Hat review processes may vary in implementation between companies and people.
