Business Strategy

/Business Strategy

Know Who Buys What You Sell

Blindly submitting proposals because you think you’re a good fit will have you wasting valuable time and money. Educate yourself on where you need to be and who you need to talk to before you make the move. Just to be sure that you’re generating up-to-date information, I generally like to use the federal procurement data system which can be found at FPDS is a database where all government agencies report the purchases that are made, the great thing about these reports is anyone can view them for free, you just have to know how to use it. There are several ways to use this information, such as locating agencies that buy what you sell, how often they buy, what companies they buy from, actual dollar amounts of purchases, and points of contact information. So as you see you get a lot of useful information from these reports and you can use this to your advantage when you start looking for work. Yes I said looking for work just because you filled the paperwork and you set your goals doesn’t mean that someone is going to find you out of the blue. When you go to the site look towards the middle of the page and type in what your product or service is in the EZ Search engine, and then click the search button and a page of categorized data will show up. On the left side of the page you will find the top 10 agencies that [...]

4 Tips To Guide You To Infinite Coachability

At some point in our lives we are going to need guidance. If you're a business owner you would've stopped reading this post by now based on the first sentence. That's because a lot of business owners think that if we can start the business on our own then we can achieve our goals on our own there is no need for guidance... that is until we get into a certain area in our career I like to call, "blah". You know what blah is its that area where you've achieved some of your goals and you want to move to the next stage in business but you can't quite get there for some reason. get cash now no credit You then decide to hire a coach, pay your money and don't take any of your coaches advice. As a result you find yourself out of your money and you still haven't achieved the goals you set out for the business... why is that? Are you coachable? If not I have a few tips that can get any business owner for any type of coaching on the road to infinite coachability, take a look: Trust-  Trust is a two way street not only do you have to trust the person that you've hired to guide you in the right direction, but they also have to trust that you're going to follow their guidance.  Once the trust is eliminated from the relationship then things can go wrong so before you [...]

Capability Statements That Rock

  One of the many ways that a company can tell interested parties about their business is by using a capabilities statement (CS). Government personnel very often request a CS to determine if they can use what you sell. Although there are three types of capability statements the more commonly used is the one page document that is printed on a white sheet of paper. When presenting the CS you should have a two minute elevator speech prepared that makes the agency official remember you. Capability statements are used as ice breakers at bid matching events, they also are used to pass on to government officials to validate proof of past performance, but the main reason they are used is to set you apart from your competitors. To a government official a CS provides a large part of what they need to know about you and your business in order to consider your product or service. Constructing the statement is not difficult it needs to be a brief advertisement of your business and that is it, nothing else. This is one document that the government will allow for decorations, but make it very conservative you want to appear professional. Some of the key elements that you should include are: Company name, Mailing address, website url- this information needs to be somewhere near the top of the page allowing it to be the first thing that the viewer sees. Company Point of Contact- a direct name and telephone number of the [...]

4 Simple Tips For Networking At Conferences

In order to grow your business in the federal market you don't necessarily need to only be known within your federal network, it also works in your best interest to expand your environment. By now you probably have figured out that the sequestration has forced the federal government to cancel a large portion of conferences and networking events. Businesses have strategized and either created events their selves or moved on to other networking events outside of the federal sector. Many businesses in this case have suffered due to the lack of communication. Running a business behind a desk and laptop is the easy part but when it comes to getting out of the office and networking there is a lack of face to face communication due to many reasons such as, intimidation, shyness, unsure how to meet new people, not believing attendance can be an advantage to you. Attending conferences is a great way to meet new people in and outside of your network. By showing up it provides an opportunity for others to get to know who you really are and what you sell, it can also open doors for new leads and possibilities so when you don't show up your business loses out. The first step in attending conferences are: Create a signature- have something that defines who your business is and accentuate on that. For example, a specific color, title, or name. Connect to 3 to 5 people that are solid- You can collect or give out [...]

Using Source Sought As A Marketing Tool

The government has many ways to perform market research, as described in FAR Part 10. One way is to issue a sources sought or request for information. Issuing this type of notice saves the government valuable time of reviewing sources to fulfill a requirement, it also ensures: ◾Access to the market's capability ◾Determine acquisition strategy ◾Assist with small business goal attainment Sources sought notices are posted in Federal Business Opportunities , and also on an agencies internal portal during the pre solicitation stage. Following the instructions of this document is very important it does not request a quote it only request key points such as: ◾Your company's relevant experience. ◾The ability to fulfill the requirement at an acceptable level of quality or cost. Some vendors view this as a waste of time I will have to disagree a sources sought is a big door opener for the vendor. It can be used as an avenue for the you to develop a relationship with the Government, this should be your primary goal--Building Relationships. Not every vendor gets the contract right away sometimes in order to get the contract you need to build a relationship with the agency. Think about it this way you wouldn't hire just any old contractor to provide a service to you without first knowing if they are capable of doing so would you? well neither would the government and a sources sought is one way of doing that. Some vendors presume this means stretching the truth [...]