Success in Federal Contracting is measured by proper business growth. A Business competing in the Federal Sector is competing on a National scale against many serious competitors. A business needs to grow and adapt their strategy to be successful in the arena. A deep understanding of the Federal buyers and competitors is key to winning contracts. The first year your business needs to base success on the following:
- Build relationships with key purchasing officers identified with your list of Top Contracting Agents and Prime Contractors.
- Get purchasing officers to see your business as viable. Provide them with past performance or references.
- Find out what attributes each different purchasing officer looks for before awarding contract to new vendor.
- Submit bids for all work that is acceptable. Keep researching your opportunities from the notifications sent from FBO.gov.
- Adjust bidding strategy based on contractor de-briefs (adding products, services, pricing, etc).
- Submit competitive and proper bids that are considered for award.
- Understand who are the market leaders for your industry in the Federal Marketplace.
- Place your government website in all areas you place your private sector website.
- Know the key types of contracts that are awarded.
- Know when contracts come up for renewal (are they three year, one year contacts, etc.)
- Identify what makes current competitors successful. You can research your competitors’ past contracts by using the Federal Procurement Data System.
- Properly use your selling features (Small Business Set-Asides, WOSB, VOSB, etc.)