Today is a big day for women owned small businesses (WOSB) pursuing federal contracts.
October 14, 2015 is the effective date for an expansion of the WOSB Federal Contract Program. The effect: federal agencies can award sole-source contracts to WOSBs, putting them on equal footing with other small business contracting programs.
This is good news for WOSBs ready with an active capture plan for federal government sales.
Not there yet? We offer some handy action items below.
Action Items for WOSB Companies Interested in Selling to the Federal Government:
1) Do a self-assessment. Do you have a product or service government will buy? Have you been in business at least 3-5 years, with strong commercial sector sales? Are you a whiner? Really, are you? Do you need to have quick wins or can you be patient?
2) Do your homework. Which level of government is the right starting point? Can you connect with federal government prime contractors to perform subcontract work? If you decide to target specific federal agencies, which ones will you target? Which agencies are performing well in meeting WOSB goals according to the SBA? Who are your primary competitors in the federal space?
3) Determine success. Before even starting in the space, determine what success looks like. How will you measure your progress?
4) Analyze your capture team. The business owner should NOT be the capture manager, proposal writer or researcher. Should NOT. Instead, the business owner should make bid decisions, strategically direct the team regarding sales goals and evaluate progress.
Or, you can rely upon experts to help you. (Shameless plug.) Team JetCo helps small, diverse companies win.