You read that right. The U.S. government has pumped millions into investigating things that go bump in the night. Sounds crazy? Well, buckle up.
The US federal government is the largest purchaser of goods and services in the world and there are many opportunities for you to be able to be of service. When done well, government contracting can provide you the opportunity to earn millions of dollars. When done poorly government contracting can take a lot of time and money without any return on your investment.
In the world of government contracting, a long-standing debate rages on: is it better to be a specialist, excelling in a specific niche, or a generalist, adaptable and versatile in meeting various needs? While specialists boast deep expertise, generalists offer broad capabilities. But when it comes to winning contracts, which approach reigns supreme? The answer may surprise you. Dive into this article to discover the better strategy and uncover the secrets to success in the government contracting arena.
When was the last time you undertook a complex project you were passionate about? Maybe it was starting a business, adding a new division to your business, or a personal project with the family.
The federal fiscal year begins on October 1st and ends on September 30th. The fourth quarter spans July, August, and September.
During fiscal year 2023, $758.6 billion was awarded to businesses, including federal contracts, with $246.4 billion occurring in the fourth quarter. This represents 32.4% of all spending. Ideally, each quarter should account for 25% of the annual spending. However, the fourth quarter presents the greatest opportunity to government contracts. The question is, are you ready to take advantage of the fourth quarter and secure your share of this spending?
The federal government has many programs to support small businesses in winning government contracts, including government IT contracts, federal and state construction engagements, defense projects, defense contract management, and more. One of the most powerful is the Mentor-Protégé Program (MPP).
Each of us has a story of how we got into the wonderful world of government contracting. In this month’s blog post, I reflect on how lucky I am to be in the government marketplace. Follow me as I share my encounter and romance with this multi-trillion dollar industry.
Every year I teach large and small businesses well over one hundred classes on government contracts. During these classes, I often review marketing materials that businesses plan to present to government procurement officers. There are some widespread mistakes I see in their federal and state government-focused capability statements, DSBS narratives, and websites. Here are the two most common mistakes:
Quite naturally on a team of majority men, I was volun-told to write the article for Women’s History Month. I am certain any of the men could have written a compelling article for the month, but I wanted the privilege to address the intersection of Women’s History and Government Contracting.
Why do we still celebrate Black History Month? What is the intersection of Black History and government contracting? Wait, don’t bypass this article because at first glance you think it doesn’t connect to you. It is worth reading. We all stand on someone’s shoulders in our life’s journey.
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Only 22% of federal contracting dollars are awarded to small businesses. Our goal is to be an agent of change by helping businesses owned by women, minorities, and veterans to get their fair share of the opportunities in the government market.
