How to Increase Your Federal Business Opportunity

 Small business owners across the United States get most of their business from the Federal Government. The Federal Government is the biggest buyer of the United States and every year caters to a multitude of small business owners and entrepreneurs by offering business value worth more than a few billions. The idea is to bolster the small businesses across the States and tapping them as a major contributor to the Economy. But, for that you need to be a crucial part of the Federal seller list. So, how would you go about it? How would you get a chance to be a part of the Federal list building? Being a part of the list means you have a super awesome way of reaching out to the multiple potential buyers (federal agencies) and developing (or stalled) opportunities through different stages in the government contracting procurement process.

But, what you do not understand is that the importance of federal list building goes beyond a mere list of potential contacts or contracts. Here are the major advantages of being a part of the federal bid list.

It indicates how likely you will be in achieving your target/goal 

 Ideally, your opportunity pipeline is integrated with your Customer Relationship Management (CRM) tool. It is likely to accurately assess how close [or far] you are away from the potential buyer, i.e. the Federal agencies. Many tools out there are happy to provide you with the basic information for a price, but never underestimate the power of the human element.

During federal list building, the government agencies provide excessive focus on excellent references, good past performance, and obviously the business acumen of the small business owners. However, in a competitive marketplace it’s difficult to find a place without a little bit of relationship management first.

Provides a Forecast on Opportunities

Unlike the commercial sector, the purchasing timeline in the Government sector can extend for six to nine months ideally. But, waiting for such a long time is certainly exasperating. However, being a part of the federal list building by Government, you can stay assured that you are likely to get a project at some point of time or the other.

Assists you in allocating resources

There’s nothing like not tracking an opportunity, and then when it drops looking around frantically for proposal development assistance or a free hand.

Provides you with the ability to identify trends 

If you are selling your products or services to the government, obviously you are aware about the evolving trends. The buying trends are no more the same as it was five years back. Being a part of the federal list building by the Government, you will be aware about consistently gathering data about the trends and preference of particular federal buying agencies. You will come across every update taking place in the federal marketplace and accordingly a particular buyer can align their business and marketing strategy as per these.

Final Words

Being a part of the federal business opportunities by the government, you are not only increasing the chance of making long term profits, but also ensuring a steady income source for an extended phase.