FedBiz’5 | Episode 13: Don’t Start with Solicitations
Don’t Start with Solicitations
In this episode of FedBiz’5 we are discussing the importance of knowing your market and not chasing solicitations as your first step. You want to know who buys what you sell, and how they buy.
Of course, your initial step is to have your SAM and DSBS registrations complete, compliant, and optimized. It is also important to investigate what set-aside certifications or GSA Schedule categories you may qualify for.
However, to immediately thereafter start digging through SAM.gov for open solicitations as your first step is probably not your best recipe for success.
The vast majority of the federal spending does not go through solicitations. In fact, approximately 10% does go through solicitations. So, it is more important initially to do research and that research can encompass a lot of different things.
As in any successful business you need to know what your market is. You need to know who your market is. You must have a clearly defined plan going in. Who is spending? How are they spending? And in the federal market that is even more important because you want to be able to focus your energy.
Who is buying the most of what you sell? What offices, what people, who should you be reaching out to? This is about research and then creating relationships.
An important first step before entering any market is to learn more about the market opportunity, and who buys what you sell. The R.A.D.A.R. (Real-Time Advanced Data Analysis Report) is a deep dive into the federal government marketplace based on a keyword search through award history associated with the products and/or services you sell.
The RADAR lets you know you the ‘who, what, when, where, and how’ of federal buying for your products and/or services, including the procurement offices that issue the most awards and how to contact them.
Under the Micro-Purchase Threshold purchases under $10,000 can be awarded without solicitation.
Under the Simplified Acquisition Procedures threshold, small businesses must be considered for all federal awards under $250,000 if there are two or more small business offerors expected to compete.
These markets are your best leaping off point to get started in government contracting and most of this business is awarded through relationships.
To establish these relationships, you need to know who is buying what you sell and how they buy it. In addition, subcontracting is another route where relationships become key. So, there are many ways to approach the federal market that are not necessarily just going after those formal solicitations.
If you plan to spend time and resources to engage in government contracting, let it be on research first so that you understand your path of least resistance and do not spend your efforts in the wrong place.
Just as in your commercial business, the key to success in government contracting is educating yourself on the market and building relationships with those who buy what your sell.
FedBiz Access offers research and engagement strategy sessions, as well as marketing packages to targeted buyers at the local, state, and federal government levels. FedBiz Access has over 21 years of experience working with companies to help them win business by ensuring their research, engagement strategy, registrations, and certifications are current, complete, and compliant.
FedBiz Access helps companies build a clear path from registration to award.
