Finance executive, Brian Bonar points out there is one sector of the economy that always remains poised for growth: the federal government and more entrepreneurs should take advantage. The government spends hundreds of billions of dollars that is passed through to the states.
A large portion of that money goes directly to small companies, moreover, the government has set a goal that a percentage of state issued contracts be directed to small businesses. According to the Dalrada Corporation CEO, Brian Bonar, every small businesses should look into the opportunity of snagging a government contract.
“Government contracts are plentiful yet the screening process is challenging so patience is critical,” says Bonar. The road to a government contract is not easy. They can be fickle, and contracting standards and guidelines can be inflexible. On average, it may take a new businesses approximately two years to develop the required expertise to land a contract, but its highly advisable you take a shot at selling your services. As Bonar points out in the Bitsylink article,”How to be an Accomplished Finance Executive…,”you must be versatile to meet various company cultures.
Research To Find Opportunities
PR Newswire, Brian Bonar suggests locating those agencies, and sub-agencies that are better suited to purchase your services and learn how they network. If you offer something the government frequently needs most likely it will be found in the government’s GSA schedule. Each forecasts for products and services will list contact information. Businesses can also find contract opportunities on the Federal Biz Opps website. Currently, there are nearly 30,000 vendor opportunities.
Vendors also need to enroll in the federal contractor registration database since officials often perform database searchese to award state contracts. Once registered, vendors that meet specific guidelines are prompted to complete more advanced profiles that explain their capabilities.
Bonar recommends companies pay special attention to their narratives. “When completing a profile, do not neglect past performance and the optional fields like keywords because the lowest price is not always the determining factor anymore,” and “Technical ability and capability weigh heavily.” Keep in mind, after solicitations, if the government accepts your offer, that still doesn’t guarantee you a purchase. Companies must still market themselves to all prospectives.
Learning From Mistakes
According to Brian Bonar, it never hurts to ask questions. If your bid was not accepted, you can requrest a debriefing from the agency. Most of the times they will tell you where you went wrong, and that’s an important element to take advantage of.
Most importanly, Brian Bonar says, take a leap and find opportunities.