In March of 2019, the President released his budget request for the fiscal year 2020 – a record $4.746 trillion. Competing in the government space can result in big dollars, but if your company is thinking about diversifying into the government sector, there are some steps you need to take first. Government contracting requires time and dedication. Without the proper resources and company culture, you may run into some roadblocks. Here are three tips that will help you find success in government contracting.
1. Check to see if the government buys what you sell.
It might sound simple, but we’ve heard horror stories of companies who took the time to diversify into the government space only to find out that the government won’t buy the product or service they sell. If there is no evidence that the government buys what you sell, you are wasting your time. A little research will help you determine this answer.
2. Ensure you have the company culture to be patient and persistent.
Government contracting is complex and can be time-consuming. Some days you might experience big contract wins, and on other days, you might lose contracts you thought you had in the bag. Don’t get bogged down by a loss. Companies in the government contracting space should have the ability to bounce back from these losses, learn from mistakes, and keep moving forward.
3. Know that the company owner or president should not be responsible for government sales.
Business owners have small distractions every day. Even if you don’t think it will happen, it does. Designate someone on your team to own your full government contracting efforts. It will pay off in the long-run.
By following these three steps, you’re on the right path to being successful in your government sales. Government contracting can be complex, but if you do it right, it can result in big dollars.