How to get Government Contracts

Have you ever wondered how government contractors successfully close hundred and even million dollars contract?  Have you ever considered the option to venture out in the field of government contracting?  Well, here are some information that can clarify any doubts regarding this interesting, lucrative, challenging and difficult industry. But, it’s not that  easy.  You need to master the  tricks of how to get government contracts.

So, where to start?

 Well, you need to do lots and lots and lots of homework before you can even venture in this industry. To be honest,  it is a lot about politics, redtape. A lot about learning what Federal Acquisition Regulation(F.A.R) allows agencies to do or NOT to do. If you've read the IRS regulations, and found it interesting, then F.A.R is the right document for you to READ. However, for the rest of the 99.99% of the USA population; F.A.R can put anyone in a death bed, literally, just like the IRS codes. Moreover, you need to be a part of federal list building.

 Once you've browsed through the 100 000 pages of the F.A.R, you can then understand what it is all about. But let’s simplify everything. Procurement officers have to follow guidelines, rules and just can't do whatever they want without dealing with higher hierarchy. The most stressful part of the venture is going into the labyrinth can be a challenging task. Once you've entered the doors of government contract, you are going into the core. There are so many doors, not really knowing which one to knock on to get the right information. Again, if you are not the part of the federal list building, you might be in a mess.

 What’s so lucrative

Government contracting is extremely lucrative. The agency get their budget approved in the first couple of month of the year, which do not usually spend much money until they reach the last quarter, then they realize they have too much money left in their account which HAS to be spent or return to the federal bank account. Every agency wants to utilize every penny given to them or the next year, they will get less. There is a lot of money spent by federal agencies and lots of money going into the vendors' pockets. There is logic to all of this. USA government is encouraging local business to grow and hire more people to meet the requirements of the government. This is how you get this economy rolling towards a positive result.

Let say you do get a contract awarded, you have to be ready to meet every of the agency's requirements. There is no margin for error. Any error means delay in payment to you, the vendor. Be ready to have a large cash flow to get this venture going. Remember, when you think about how to get government contracts, maser the art of federal marketing strategies.

SBAs need to fulfill the 0requirements

SBA (Small Business Administration) helps small seed companies, minority owned business, veterans owned and 8(a) certified companies get federal business opportunities. However, you still need to meet their requirements. Yes, you can get the contract, but you need to fulfill them.

Once you know how to get government contracts, you need to understand their invoicing method. Not understanding that part can be nerve wrecking, especially if you depend on that money to survive or close other contracts. This is how you can grow in this industry. Use the money of one contract to finance the next one and so one and so forth.

 This is the technique to succeed. Leveraging one contract for the other and moving forward to more challenging, bigger and more profitable contracts. The key is patience, determination and perseverance.