Published:
09/30/2014 06:37pm
5 Effective Ways to Win Government Contracts
Do you want to win government contracts and ensure the success of your small business for years to come?
You’re not alone. Lucrative government contracts are some of the most sought-after projects in any industry, but especially in the health and wellness sector.
So how can you get your foot in the door, stand out from the competition, and win government contracts that will build your reputation and make your business thrive?
Start with these 5 easy-to-implement steps:
1. Do a Network Check Take a good, hard look at your LinkedIn profile. Scan your social media accounts. Dip back into old email accounts and see who you know that is connected in the government sector.
A personal relationship is the fastest, easiest and most effective way to start applying for and winning government contracts. Do not overlook the connections you already have.
2. Attend Industry-Specific Events If your goal is to win government contracts, attend local and national industry-specific events. It’s here that you’ll connect with the people looking to hire you and your business, and it’s here that you’ll get up-to-date information on the latest contracts and regulations in your industry.
BNI and
EventBrite are great for finding events in your area.
3. Form a Partnership It’s much easier to partner with someone who already has a government contract than to break in yourself.
Do some research and approach people in your network about partnerships and joint venture opportunities. Look at the services you provide and work with someone who’s missing exactly what you have to offer.
Don’t forget to do your homework. Approach the potential partner with a well-thought out business plan backed by real-world examples. Be sure to specify what you bring to the table and why partnering with
you will benefit
them.
4. Get to know the Government Just kidding, kind of!
How is the government spending its money? What are they buying and what are they passing on?
You should do your research and make sure what you’re selling something the government is actually interested in. After all, the greatest idea in the world will generate a return of zero if no market exists for it.
For example, you may think a pilates program for 7 year olds is a great idea, until you do a little research and realize that right now the government is spending more on nutrition education than exercise classes.
Don’t be afraid to tailor your specific strengths to meet the purchase needs of Uncle Sam. You could even create a brand new product or service based on what the government tends to buy most.
Find out which government agencies are spending what (and on whom) by visiting these sites:
·
FBO.gov·
FedSpending.org·
SBA.gov 5. Cultivate patience If you’re looking to get rich quick, don’t bother trying to win government contracts. The process of doing business with the government takes anywhere from 18 to 24 months.
While the long-term benefits are fantastic, the short term investment of time and money should be weighed carefully before beginning the (sometimes arduous) process.
Fran Dean Bishop is an award winning business coach and CEO with 20 years in the health management industry. She founded Aerobodies Fitness Company, (now AFC Management Services), in 1994. To request Fran for a speaking engagement or workshop, contact her at franb@afmsco.com – 703-402-8477. Join Fran at the Club Business International Conference October 22-24, where she’ll speak more on this exciting topic at her one-of-a-kind workshop: Finding Hidden Revenue Streams - Grab the BIG $$$ your Competitors are Missing. Find out more at http://www.clubindustryshow.com/clb14/public/enter.aspx
