A government contract is not made for every business but if you find that the federal arena works for you the outcome can be very beneficial. In order to succeed you have to know your business and what is being offered to you in the federal marketplace. Just because your commodity is well received commercially does not mean you will have the same response federally, so do your research. If you find that it is the right fit here are a few of the benefits that you can reap:
•Stability- A government contract is a stable form of revenue. As a contractor if you abide by the terms and conditions of the contract you could be in business with the government for a long time. In order to provide agencies repetitive supplies or services they require ongoing contracts that last from three to five years. Many of these contracts are renewable up to twenty years as the term begins to expire.
•Guaranteed Payment- Although it takes a village to get that contract awarded you will be happy to know that the government pays on time. Payments are received within a 30 to 45 day cycle which allows for consistent revenue and continual business growth.
•Business Outlook- Having a government contract not only helps you grow financially but also strategically. No matter the size of your business or the level of business experience that you have I believe working with the government helps you build a new outlook on handling day to day duties and how to grow your business in a different environment. Once you have mastered government contracts and its processes you can pretty much handle anything.
•Relationship Building- I have built many longstanding relationships with contractors and government personnel that have assisted in the growth of my business. Developing relationships with the right people can assure a solid foundation in the federal government.
I am Ilene Giles your, “GSA Proposal Maven” If you or anyone you know are interested in creating the life you want by growing your business in the federal government get access to my services by registering for a free CD, “3 Things To Consider Before Applying For A GSA Contract” or contact me here