October 15, 2018 - In federal contracting, there is always a hungry competitor willing to offer their product or services for just a little less. Successful contractors continually fill the pipeline with strategic opportunities. Contracts are built on:
1 - Price.
Sometimes it's best value and sometimes it's LPTA. Understand how your price is evaluated in source selection.
2 - Demonstrated Past Performance
This takes time and experience -- and just as important is accurately conveying how your capabilities align to the solicitation.
3 - Trusted Relationships.
Networking is a key component of relationship building and identifying teaming partners, sub-contracting opportunities as well as service providers to help fulfill staffing, HR, proposal writing and other business needs.
While an on-going contract may be your cash cow, be sure to look over your shoulder, as any break in these components can set you back and change your business.