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. Read More
When you first delve in to the world of Government contracting, it can be overwhelming. Rarely is it as easy as, say, having new carpet installed in your home. In that case, the seller provides a quote, you agree to the terms, new carpet is installed, and you pay the invoice. Done.
There is a reason the Capture Management process and procurement process aren’t that simple. Often times the government customer wants high-end, super plush carpet for an economy carpet price. They also want it in four different colors, and in rooms with fourteen closets. And to top it all off, it needs to be completed over the holiday weekend, only using two security-cleared installers with ten years of experience.
Government agencies may be a solid source of income, but they also require a significant investment of time and resources to close a deal, depending on the length of your sales cycle. The open-bidding process often goes through several layers with fewer potential contractors competing at each step. As you manage your capture through all the different stages, networking and making contacts is a big part of the process. Given the complexity of agency structures, no one person makes the final decision on bids. This fact makes building relationships a must – and that’s where Industry Days come in to play.
Political change leads to economic change. Every election cycle sees new initiatives move to the forefront of the budget, as well as process changes that can lead to big opportunities. By being proactive about your capture management process and creating a repeatable ISO-like sales process, you can get your team ready for the changing landscape.
The government budget is limited to the amount of taxes collected, plus the amount of debt our country creates, which means there are only so many dollars to go around. With all of the rhetoric surrounding military build-up, it is likely the new budget will have significant changes to spending initiatives. To keep your business bringing in those important and lucrative government contracts, you need to look at likely areas for a budget boost.
The most important thing you can do is take a long look in the mirror and ask the question: “Am I ready for this fiscal year?” Maybe not – status quo may not be enough to be ready. You know a surge in government spending is on the horizon, but you may not have everything in place within your organization to ride the wave.
Every year brings with it new budgets and new government initiatives. This year, however, brings the added uncertainty of a new president. For the first time in more than a decade, you will see a Republican-led Congress and a Republican president setting budgetary and fiscal policy. The need to compromise with the opposition means watered-down legislative bills just went out the window.
Businesses that depend on government contracts should have been happy with the all the discussions about military build-up spending in the 2016 presidential election. Now that the United States knows who will be in office, it’s time to take a deeper dive into what kind of changes you’ll see in the government sales landscape.
As mentioned before, President-Elect Donald Trump said he would increase military spending during his campaign in a number of ways. But while the details have yet to emerge, and some plans are certain to evolve or change on Trump’s end, it appears a lot of opportunities will be there for government vendors and contractors. Read More