July 6, 2020 - Strategic Capture In Fed Gov Q4
As the federal fiscal year comes to a close, government contractors race to the finish line in hopes of capturing the remaining budgeted dollars. It's a use it or lose it system and the government wants to spend their dollars in order to "keep" their dollars. There is no prize for second place however there are many opportunities to win first place. Contractors must use everything they have in order to win in this ultra competitive environment. Program managers and contracting officers are busier than ever, so make it easy for them to find you AND work with you. Here is how:
1 - Leverage Your Contract Vehicles
Contract vehicles are a great marketing tool and can include GWACs, government wide agency contracts (ie. GSA Schedules) and specific agency contracts (NASA SEWP, Navy Seaport-E, etc). Contract vehicles significantly reduce paperwork for the government procurement. Your firm has been vetted and your rates are pre-negotiated. If this is how your customer prefers to purchase, be prepared to respond to the influx of RFP/RFQ's as well as direct purchases during Q4.
2 - Leverage Relationships
Now is NOT the time to start your marketing, branding, media, sales and business development campaigns, but rather to reap the rewards of the last 9 months of these activities. Don't be late to the game. In business and life it comes down to who you know. Trusted relationships with teaming partners, large primes and direct agency contacts will help push the ball further down the field and make you the contractor or partner of choice.
3 - Reverse Engineer
The federal market offers an exorbitant amount of "free" (publicly available) data like no other. Various "dot gov" websites provide contact names, phone numbers, emails, past awards, upcoming procurements, competitive intelligence and more. This data must be utilized in order to be successful. If you are not proactively data mining for opportunities, you have missed the boat and are reactive to bids that have been worked by your competitors for months.
4 - Luck
The Roman philosopher Seneca once said, "luck is what happens when preparation meets opportunity". There will certainly be "one hit wonders" during Q4 who will win a contract and fade off. The true competitors and winners however, will have a prepared strategy, a game plan with both relationships and marketing tools that allow them to capitalize on the rewards of the increase in federal spending opportunities during this cycle.