Top 10 Government Contracting Myths Busted: The Truths You Didn’t See Coming!
Ah, government contracting. A world filled with paperwork, bureaucracy, and… unicorns? Okay, maybe not unicorns, but there are certainly a lot of myths floating around. Let’s dive into the top 10 myths about government contracting and bust them wide open. Spoiler alert: No mythical creatures were harmed in the making of this article.
- Myth: Government Contracts are Only for Big Businesses Busted!: Think you need to be a corporate giant to land a government contract? Think again! The government actively encourages small businesses to bid for contracts. In fact, there are set-aside contracts specifically for small businesses, women-owned businesses, and more. So, size doesn’t always matter (at least in government contracting)!
- Myth: It’s All About the Lowest Bid Busted!: While price is a factor, it’s not the only one. The government is often looking for the “best value,” which considers price, quality, past performance, and other factors. So, don’t just slash your prices—showcase your value!
- Myth: Government Contracting is Too Bureaucratic Busted!: Okay, we won’t sugarcoat it—there’s paperwork. But once you get the hang of it (and maybe work with FedBiz Access!), it’s a manageable process. Plus, think of all the paper airplane possibilities with the extra forms!
- Myth: You Need Inside Connections to Win Busted!: While networking can help (as in many industries), government contracting is designed to be transparent and fair. You don’t need Uncle Bob in the government to get a contract. Your quality work can speak for itself.
- Myth: Government Pays Late, So I’ll Go Broke Busted!: The Prompt Payment Act requires federal agencies to pay contractors within 30 days. So, while you might not get overnight riches, you won’t be waiting for an eternity either.
- Myth: Government Contracts Aren’t Profitable Busted!: Sure, you might not become a billionaire overnight, but government contracts can be quite lucrative. Plus, they offer stability that private sector contracts might not. Steady work and payment? Yes, please!
- Myth: The Government Only Buys Military Equipment Busted!: While defense contracts are a thing, the government buys everything—from paper clips to spaceships. So, unless you’re selling unicorn rides (which, let’s face it, would be awesome), there’s probably a contract for what you offer.
- Myth: Once You Win a Contract, You’re Set for Life Busted!: Winning a contract is fantastic, but it’s not a golden ticket. You’ll need to deliver quality work, meet your obligations, and rebid when the contract expires. But hey, if you’re good, why wouldn’t they want to keep you around?
- Myth: It’s Impossible to Break into Government Contracting Busted!: Like any industry, breaking in requires effort, persistence, and a sprinkle of patience. But with resources, workshops, and government business development firms like FedBiz Access, it’s far from impossible. Remember, every big contractor started somewhere!
- Myth: Registering in SAM is All You Need to Win a Government Contract Busted!: Just like simply showing up to a dance doesn’t guarantee you’ll be dancing with the prom king or queen, registering in SAM is just the first step. You’ve got to have the moves (and in many cases, the wingman or wingwoman) to win that government contract!
Government contracting might not be the world of myths and legends, but it’s an exciting realm filled with opportunities. So, the next time someone tells you a tall tale about government contracting, you’ll be armed with the facts. And who knows? Maybe there’s a government contract out there for unicorn rides after all. (Hey, a contractor can dream, right?)
Need help getting in the Government Marketplace? We’ve helped thousands of businesses like yours over the last 22 years. Schedule a Complimentary Consultation with a FedBiz Specialist today!
