Strategies to Get That Contract!

In the light of the recent federal government shutdown, it is consoling to businesses all over the nation that are considering government contracting or are already into this activity to note that state and local government agencies are still buying more products and services though budget for federal spending have been reduced.

Companies who esteem themselves to be good business investors don't just blindly look for bids but instead determine the compatibility of the opportunities during the planning stage.  If you are looking for a steady cash flow from doing business with the government, then you should know about term contracts.

Term contracts (also known as: blanket purchase agreements, recurring contracts, IDIQ and state purchasing coops) are an opportunity source for companies that provide items consistently needed by agencies.  State and local entities will set up a term contract to allow agencies to buy a product (computers, for example) at pre-negotiated prices from a limited number of vendors for a pre-set period of time.

Research!

This is very important for successfully making your name in the government market. Researching is always hard work, but more so with government bidding! You'll have to look into hundreds of websites, read notes from council meetings, and analyze what they want and how they want it done. On top of this, it is also advisable to check what kind of contracts they offer and consequently if you are within capacity to see them through and which companies have already and are most likely to snag contracts.

Of course, as an entity who is already running a business, it'll probably cost you time to do all this digging around. Fortunately, there are online resources who do this work for you. Stateandfederalbids.com actively and thoroughly gathers federal, state, and local government contracting opportunities all over the nation! Now you can focus on identifying the kind of opportunities you want to take on.


Target!

Keep your strategic eye on opportunities and contracts. Again, we bring back the importance of gaining some working knowledge on the spending and awarding attitude of government agencies. This will help you in establishing your foothold in the government market as the awarding agency will stick with you if you perform well and beyond their expectations.

Respond!

Invest everything you have to make the best bid response ever! Practice thoroughness and clarity in addressing the requests of the bid. Present your company as a brand with competence and dedication worthy of investment!