By Helen Callier, President of Bradlink, LLC
After achieving success to a certain degree in the local and state government markets, it is a natural progression for many small businesses to then select the Federal Market as a growth opportunity. The Federal Market is the largest purchaser spending over $500 billion annually of goods and services where only one to two percent of all small businesses in the United States do business with.
As your small business starts swimming in the Federal Market while continuing to grow on the local and state levels, know that there are key strategies required for success in winning contracts. To assist in landing work in the Federal Market and continuing to grow on in the local and state government markets, below are five ways to increase your small business’s chances of landing a contract:
- Get a Mentor
Using a mentor is a proven method and game changer in helping many small businesses achieve success. Mentors can assist your small business in learning how to mitigate certain risks and obstacles ahead of time. This alone not only save costs but eliminates surprises and headaches as well. For the best experience, select a mentor that has been successful, especially in an area where your small business needs assistance and has similar business ethics.
- Get Certified
Although certification is not required to do business or secure contracts with certain government agencies, certification is a strong strategy to increase your chances and position your small business to land government contracts. For example, on the Federal level, my technical services company received its Small Business Administration 8(a) Certification. The SBA’s 8(a) program provides mentoring, counseling, and access to sole-source or set aside contracts. Some other Federal Market Certifications include the Services Disabled Veteran-Owned Business (SDVOSB), small businesses located in Historically Underutilized Businesses Zones (HUBZones), and Women Owned Small Businesses (WOSB). Go to www.sba.gov for additional information.
- Focus
The most successful small businesses in the government marketplace and especially in the Federal Market target two to three agencies that buy their particular products or services. To better position your small business in achieving success, research several government agencies that could use your product or services and, once confirmed, begin your early game marketing efforts.
- Market Your Small Business
Industry data shows that 3% of the marketplace is always buying. If you as the leader of your small business have decided to save costs by limiting your marketing budget then you run the risk of stunting the growth of your business.
Many government agencies on the local, state, and federal level hold matchmaking events with agency small business managers and contracting officers. Participating in these events provides opportunities to introduce your small business’s offerings. Also, it gains the edge on those small businesses that have chosen not to attend such as event or do not understand the importance of positioning one’s firm through marketing activities. Go to www.osdbu.gov for upcoming Federal Matchmaking Events.
- Identify Contracting Opportunities
Be proactive versus waiting passively for someone to call or email you regarding a contract opportunity. After selecting the few agencies that use your products or services, the next step is to sign up on their website to receive notifications about upcoming contracting opportunities and, most importantly, to review agencies’ fiscal year budgets and allocations for projects. Also, for Federal contracts, visit www.fbo.gov which lists all contracts out for bid and highlights information about future contracts via Sources Sought notifications.
In closing, small businesses are the cornerstone of the United States economy creating approximately 65% of our nation’s jobs. When small businesses are successful in winning government contracts, the United States of America, your state, and community benefit. Stay tuned for my follow-up article next month about teaming to grow your small business through government contracts.
Helen Callier is President of Bradlink, LLC, a technical services firm. She is a radio show host, public speaker, and the best-selling author of “Your Money is in the Follow-up”. For more information, call her at 281-312-9981 or visit her website at www.yourmoneyisinthefollowup.com.
