In any system, communication is key. The same applies to when businesses contract with the federal a government. For this blog post, we're going to cover points of contact. Without a firm understanding of this concept, you will be at a disadvantage in the federal marketplace.
“I felt exactly how you would feel if you were getting ready to launch and knew you were sitting on top of 2 million parts – all built by the lowest bidder on a government contract.”
This apocryphal quote comes from the early days of NASA. Some attribute it to Alan Sheppard. Others claim it was John Glenn.
Either way, no one can agree on who said it or the exact phrasing. What did happen though, was the perpetuation of a government contracting myth: it always comes down to the lowest bidder.
You can't get paid on a government contract without understanding the content of this podcast episode.
A new vendor’s contracting strategy begins with complete and proper registration. Without a proper SAM registration, the federal government can’t award a contract or make payment. All information should be current, accurate, and match what has been submitted previously to D&B and the IRS.
Success is no accident and neither is failure. When looking at the survival rate of small businesses in the U.S., about 80% of them will make it through their first year. However, within a decade’s time, this rate will drop to a grim 30%.
If you’ve ever thought about approaching a government contract, you know it can be difficult just knowing where to begin. US Federal Contractor Registration’s Bobby Davis breaks it down into five stages.
In December 2015, FBO began disabling accounts that have not updated their login password within the previous 90 days.
Is it time to rebrand your business? Different from simply freshening up your marketing materials, rebranding means changing the entire "personality" of your business. Your company might be ready for rebranding if:
Before you can bid on federal contracts, you must complete your System for Award Management (SAM) Registration. Only businesses that have completed their registration can submit bids and receive federal contracts.
Below you will find a list of commonly used acronyms used by the federal government.
According the Small Business Administration, the North American Industry Classification System (NAICS) classifies business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. economy. These codes define establishments based on the activities in which they are primarily engaged. These codes are also used for administrative tasks, contracting, and tax purposes. The SBA uses these codes as a basis for all of its size standards. When the Federal government intends to acquire goods or services from a government contractor, it identifies the codes that describe the principal purpose of that procurement.
We all know their can only be one winner in every competition. In government contracting a procurement officer will only choose one contractor to fulfill their procurement solicitation. When businesses bid on government contracts they run the obvious risk of losing to a business that has been deemed more qualified. It is important that contractors do not give up and request a Contractor Debrief in the wake of their rejected bid. Every business should prepare a number of questions for the procurement officer in order to make sure the best feedback possible is given in return. Finding out every detail to why a business lost the bid can make all the difference in the world for their next bidding opportunity.
Why even become involved in government contracting if you aren't going to market your business? That is the number one thing I tell business owners over the phone right after they have been certified to work for the United States Government. There is no special secret, if you do not market your business to government agencies, you will not win government contracts. Plain and simple. There are many, many ways to begin your federal marketing efforts, and believe it or not they are simple. In fact, some of these strategies are as easy as checking your email and making a few calls. Not preparing your business for the federal marketplace will result in zero activity. Every vendor must become properly registered in all the recommended databases and begin a solid government marketing campaign.
Deciding whether or not you should perform your own System for Award Management (SAM) registration can be a tough pill to swallow. Making the attempt to conduct the process on your own as a brand new user can lead to big mistakes for your business.
When a procurement officer is conducting market research they also have to consider small business federal set-asides. These set-asides help small businesses win government contracts that would normally be given to larger businesses. 23% of the annual federal contracting budget is devoted to small business contract spending. The 'Rule of Two' is used at the discretion of each procurement officer when spending their yearly contract funds. Due to the Simplified Acquisition Threshold, small businesses are set to receive contracts that are between $3,000 and $150,000 automatically.
Recover your User Name:
Go to this link here, and enter the email address you may have used to register your business in SAM. If you forget your email try every single email address that could have possibly been used. Once you click submit, you will receive a confirmation email with your user name.
With a Request for Quotation (RFQ), a procurement officer invites suppliers to bid on providing specific products and/or services. An RFQ typically involves more than the price per item. Information like payment terms, quality level per item, or contract length are possible to be requested during the bidding process.
A procurement officer interested in securing a product and/or service will issues a Request for Proposal (RFP). This RFP presents preliminary requirements for the acquisition of the product and/or service, and may dictate to varying degrees the exact structure and format of the supplier's response. Effective RFPs typically reflect the strategy and short-/long-term business objectives, providing detailed insight upon which suppliers will be able to offer a matching perspective.