8 things you need to get into Federal Government Contracting

Do you / your team have what it takes to succeed in the Federal Government contracting space?  Here’s a quick list of what you should have in place.

 1.     Past Performance. Have experience you can write to in a proposal – it’s almost always a big part of the proposal evaluation. If not as a subcontractor, at least some experience doing the same scope of work in the commercial world is critical.

2.     S a m . g o v registration.  There are several steps to this process, but you can do it on your own. If you want help, contact your local PTAC (now called Apex Accelerator, but I refuse to change what I call it). Never pay someone to do this for you.

3.     An understanding of the process. Take PTAC/Apex Accelerator training classes, read books, talk to people, and join organizations. Learn the lingo. Understand the process, the timing, etc. (oh yes, I can help you here too.)

4.     Cash/Access to cash. Boot-strapping a federal GOVCON business is HARD. Especially if you plan to provide services – i.e., you’re going to have to make a regular payroll while waiting for the government to pay you. Having an existing company that can pay the bills, and/or a Line of Credit in place is key. The government (and your teammates) will want to know you can handle the cash flow requirements.

5.     Market research.  What agencies buy what you are selling? Do they set aside work for certain business types? What companies have won similar work? You can learn how to do this through PTAC training.

6.     Relationships – find teammates. If you qualify as a small business, knowing a company that is about to outgrow its size standard and that trusts you enough to sub to you on the next iteration would be ideal.

7.     Ability to write proposals.  If not, at least the cash to pay someone else to do it. If you intend to start as a subcontractor, you can learn this as you go, to some extent. Offer to support your prime contractor during the proposal. They won’t likely ever show you the pricing, so you’ll need to pick that up. (I can help here too, btw)  

8.     Time – this is not a quick process. If you have a mortgage or rent payment to make next month, starting a GOVCON business from scratch may not be a good plan

 Patience, and all of the above, will get you started on the right path. If you want to talk about your situation, give me a call!