The truth behind many contracting issues happening today is the lurking topic of who is or is not winning government contracts. Industry success or failure is directly dependent upon management and its ability to understand and meet contract scope - the needs and requirements.
How critical are tips and tools within a company to help win and keep government contacts? They're more important than ever in an era of increased competition with fewer opportunities. Consulting firms can provide support, but here are the 5 simple tips to help you win and keep your government contracts:
- Offer superior product: Providing great solutions or services that meet customer demands at an affordable price is exceedingly important, regardless of market. Make sure your performance today will speak highly of you in the future, and that your past performance is a key indicator of future business success. Stress your value add and what you bring to enhance the contract.
- Ensure your firm is qualified to do business with the government: Is your accounting system compliant? Can you withstand a contractor purchasing system review (CPSR), Defense Contract Audit Agency (DCAA) audit, or pass a contracting officer's "responsibility" determination? Regulations that slice across all contract types that are always to be considered: DCAA audit, Incurred Cost Submissions, Government Property tracking, Materials Control, Effective labor rate control, etc.
- Know your target market: In government contracting, that means understanding agency authorization and appropriations language, attending industry events, analyzing federal business trends, reviewing competitor strengths and weaknesses, and understanding past performance indicators that may help or hinder your contracting prospects.
- Understand government contracting statutes, regulations, and policy: Yes, they may seem complicated, arduous, and even overwhelming, but to anyone who really takes the time to learn, it makes sense and is very cut-and-dry. Learn and create a culture of corporate acquisition knowledge or seek knowledge from an outside consulting partner.
- Develop relationships: Become active and get involved with professional associations, local events, and industry trade shows where both government and industry communities gather and over time develop the credibility, relationships, and understanding necessary to compete in the contracting space. Meeting agency or contracting executives can create an understanding of overall customer vision. Concurrently, operational, technical, contract, and program managers can provide insight to customer strategy, specific requirements, acquisition planning, or source selection methodology.
For more tips and tricks or consulting support that will help you remain compliant and win more governement contracts - contact us today