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.
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
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.
In today’s hyper-competitive, 24/7 global economy, automated capture solutions can help your business adopt and maintain a competitive edge by creating repeatable processes, eliminating inefficiencies, building a solid customer data bank and closely tracking sales metrics within your organization.
Identifying an appropriate candidate to manage your capture process can be a challenge. It isn’t that the capability and experience doesn’t exist, but rather the necessity that individual’s expertise must align well with your internal strategic business goals as an organization.
A new year means a new opportunity to take a look at what you did wrong and what you did right in previous year. As you think about your capture management efforts for last year, jot down some resolutions that might help to improve your success rate in the coming year. Creating a repeatable and scalable capture management process often starts by resolving to install better habits.
Take the time to prioritize the following seven resolutions to push your prospects through the pipeline to an award. Read More
Budget is a big barrier when looking at your capture management process. You need to invest a lot up front in the hopes of scoring contracts at the end. With publicly-available sources offering a lot of the information you need to strategize for opportunities, it can take a lot of man hours to aggregate the information.
For most businesses, that’s where paid services come in.
When you win the pot in a poker game or trounce a friend at a game of golf, your euphoria doesn’t always lead you into deep analysis about what worked or what led to your win.
Professionals spend a lot more time analyzing every step they take along the sales cycle so they can find out where they went right. The same is true when they lose. Professional sports teams invest millions on post game analysis, practicing repetition of strategies that worked and finding ways to resolve weaknesses.
While it is fine to just enjoy the win or bemoan the loss during friendly competition, you need to pay more attention to your win/loss analysis for success, and to create a repeatable capture management sales process. Read More
Landing government contracts starts with a comprehensive capture management process. During which, your black hat review is a crucial strategic step that helps define your expectations and proposal process, as well as next steps.
If you stumble during your black hat review, however, you may also blow your entire capture management funnel. Here are a few mistakes to watch for and ways to avoid them when you put on a black hat. Read More
