BUILDING MARKET SHARE IN THE FEDERAL SPACE
By Mike Pinkston
Are you, or do you want to be a federal contractor? If so, the good news is that the federal government awarded more than $471 billion in contracts in 2016, making it the largest purchaser on the planet. And its mandate to follow strict procurement guidelines also places it among the most transparent buyers in the world.
The not-so-good news? According to USASpending.gov, the top 1 percent of nearly ten thousand federal contractors has won more than half of the business over the past five years. That leaves the bottom 99 percent, and potentially twice that many who took a swing and missed, to slug it out for the remaining $200+ billion leftover (not exactly table scraps).
So how do you stop fighting for the leftovers and take a seat at the table? DAI Solutions’ white paper, “Ten Steps to Becoming a Federal Contracting One Percenter,” lays out a blueprint for doing just that.
The paper discusses infrastructure considerations you should be aware of, including financial items like the need for a compliant financial management system, pricing capabilities, and established lines of credit; and contract management considerations, like a robust contract management system and adherence to contract reporting requirements.
It also discusses how to brand your company through your value proposition, and how to describe your qualifications through use cases, past performance documentation, and client references. Business development planning and teaming are likewise covered, as well as a recommendation for keeping your workforce engaged.