Tag: government contract

Doing business with the federal government for IT companies

Posted on by Eric Coffie

Over the last several weeks I have noticed an uptick in the amount of companies wanting to do federal contracting for IT related services. This includes programmers, network administrators, software design, hardware design, security implementation, the whole gambit.

However, many of them often have the same questions. How do I break into this marketplace? Who should I call, what activities should I be doing?

Over the last dozen or so emails my response has been the same time and time again. So I figured why not create a blog post to help provide guidance to those persons needing to find their way.

For most IT companies they have a difficult time understanding the inner workings of government and how to break in. Here are a few things to consider.

  • Does the government buy your product/service from a Best in Class vehicle? Which ones?
  • Are you interested in SBIR/STTR?
  • Can you develop custom applications?
  • Do you have a specialty area? Software, application type
  • Are you familiar with OTA, CSO and BAA?
  • What products have you delivered successfully?

If you are unfamiliar with any of the words above then I recommend you do some of the HW assignments below.

This will help familiarize you with various ways in which the government buys IT related services. Additionally, this will dramatically increase your knowledge base and vocabulary in this marketplace; something that will help you get up to speed rather quickly.

Recommended HW:

  1. Listen to my podcast episode with software company Fearless.They created the SBA HUBZone map and the website. Podcast or YouTube
  2. Watch my YouTube video discussing submitting unsolicited proposals, white papers and quad charts with Pierce Robinson. Watch now
  3. Listen to episode with Dr. Grant former director of SBIR/STTR at NASA. Listen now.
  4. Research Best In Class vehicles. Category Management using GSA new search tool. Head there now.
  5. Try and answer the Seven Critical Question test from the Silicon Valley Way. Take test now

Hope this helps some people out there to try and get clarity where often none can be found.

/ EC

Choosing the Wrong NAICS Code can Cost You Millions!

Posted on by Eric Coffie

What is a NAICS code and why do you need one? Even further, let’s answer the question on why choosing the wrong NAICS code can cost you millions! Read this article to learn more. 

WHAT IS A NAICS CODE?

A NAICS code is a six digit code used by federal agencies to determine the products and services that they want to buy. It is also used by small businesses to identify products and services that they want to sell to the government. 

You can view the NAICS code list from the U.S. Census Bureau or by contacting the bureau through 1-888-756-2427 or on their email address, [email protected]. You can also visit NAICS.com.

Now, you need these codes when you get ready to register in the System for Awards Management database and when you apply for some of the small business programs. 

With this, you need to make sure that your NAICS code is appropriate for your business.

For instance, if you’re under the construction industry, you need to look for the appropriate keyword for your products and services. You may not be providing sanding services, but you can be under the  New Single Family Housing Construction section. The key is to be specific on what you provide. 

Most importantly, consider that you can have multiple codes, depending on the products and services that you provide. Check this video entitled “Primary vs Secondary NAICS Code” that we have on our YouTube channel. 

WHAT IS A SIZE STANDARDS TABLE?

Now, why is choosing the right NAICS Code important? Let’s answer this question by pulling the Small Business Administration’s Size Standards Table. 

So, this table determines your eligibility to be a small business and this corresponds to the NAICS codes that you use.

This standard is also divided into two categories: manufacturing which is determined by your number of employees and contract work which is determined by millions of dollars.

So, how does this break down? If you are under the contract work category, you will be provided with annual gross receipts over a three year span that you should not exceed. Same thing with the manufacturer category where your employees cannot exceed 500 employee average over a three year span. Still, consider that the number depends on your NAICS code. 

WHY SHOULD YOU CHOOSE THE RIGHT NAICS CODE?

So, why do you need to check the Size Standards Table in choosing your NAICS code? 

Well, let’s say, you are under the NAICS code 238320 which is for Painting and Wall Covering Contractors and your secondary NAICS code is 236015 which is for the New Single Family Housing Construction. 

This means that your cap to be eligible as a small business is $15 million a year over three years or a total of $45 million in the three year span. Once you exceed that number, you are no longer eligible to be a small business.

However, you can change your primary NAICS code whatever you like.

In the case above, you can change the primary code to be 236015 and the 238320 is the secondary one. This way, your cap would be $36.5 million per year on average which over three years would be a total of $110 million dollars. That’s a difference of $60 million dollars!

RESOURCES

So, that is why choosing the right NAICS Code for your business is so important prior to your registration because once you choose the wrong one, you might really lose a potential millions of dollars in revenue. 

With this in mind, if you want to learn more on how to navigate the federal marketplace as a small business without losing millions of dollars, then check the resources below. 

You can also join us here at GovCon Giants or check the new GovCon Edu where you learn everything about government contracting!

Choosing the wrong NAICS code can cost you millions!

https://youtu.be/BAeWQix2sM4

https://govcongiants1.wpengine.com/wp-content/uploads/2018/12/Choosing-the-wrong-NAICS-code-can-cost-you-millions.pdf

Primary vs Secondary NAICS Code

https://www.youtube.com/watch?v=kpgW_N-Vg7k&t=22s

Find Local Opportunities Near You!

Posted on by Eric Coffie

Leverage these local opportunities to provide products and services to the government! Here’s a guide to tell you how.

LOOK FOR LOCAL OPPORTUNITIES

While looking for potential projects for my potential client, one of the agencies that I was looking at is the National Park Service.

Good thing, I  had the privilege of speaking with someone from the Denver Service Center and this person gave me some ideas on how we could potentially land a contract with the National Park Service.

1. Look for DOI’s forecast list.

The first thing that you should do is visit the Department of Interior’s website to see their forecast list. 

With this, type the term “Department of the Interior Forecast list” on your search bar. The first results should be about the procurement opportunities on their website, so click on that. 

Afterwards, you will then be transported to their Office of Small and Disadvantaged Business Utilization’s procurement opportunities page. Scroll down past that and you will see the document of their procurement opportunities within that year. 

2. Download the forecast document. 

Once you click that document, it will then be downloaded to your computer. 

Then, when you pull up that spreadsheet, it will provide you a list of different opportunities organized by contract types. It also gives you the name of the opportunity, the value range of the job, where the place performance is, and the point of contact and their numbers. 

TAKE ADVANTAGE OF THIS OPPORTUNITY!

For a lot of people out there who are looking for simplified acquisition or micro-purchases, this is a great opportunity for you to solicit directly to a national park in your local area and to also find a potential opportunity to work with local government agencies near you.

In fact, I want to compare this opportunity to more of like a state or a local contract because it’s close in terms of proximity to your actual physical location.

However, the good thing is, you’re getting federal past performance and federal jobs although these are just smaller projects. 

You could easily sort this forecast list by state and you could pick or choose the ones that are closest to you. There might be 10 or 15 local contracts within your area that you can easily reach out to. 

And even if you’re not successful in landing something right now, you still have the opportunity to make connections and build relationships with agencies and clients near you. 

“From my understanding, if the person at the local level is, right, they like you and they want to do business with you,they can then refer that back up to the Denver Service Center for larger contracts, for larger opportunities, for set aside jobs, for negotiating type proposals.”

So, this is your tip for today. Take advantage of using a forecast list with over a thousand of opportunities in order to identify potential future clients, future jobs, and future opportunities coming up!

RESOURCES

With this in mind, if you want to learn more about doing business with the government, then join us here at GovCon Giants.

Just visit our website and other social media platforms or check the new GovCon Edu where you learn everything about government contracting!

You can also check these resources below:

Find local opportunities with National Park Service (NPS) Department of Interior

https://youtu.be/8kWibjZ5wjo

https://govcongiants1.wpengine.com/wp-content/uploads/2018/12/Find-local-opportunities-with-National-Park-Service-DOI.pdf

 

Don’t Screw Up Your First Federal Bid, Follow These Tips!

Posted on by Eric Coffie

Follow these tips and tricks in doing government contracts, so you won’t screw up on your first federal bid!

TIPS THAT YOU SHOULD FOLLOW

I know a lot of people who are bidding jobs all the time, but they aren’t really successful at getting the job or if they won, they found out that they made some huge mistakes along with their bid. This is what I want you to avoid. 

With this, I’m sharing some ideas and ways that I use myself when I’m looking at bidding projects in the federal marketplace.

1. Get the contract into writing.

We’re always in a rush for a very quick turnaround period, but in terms of pricing and specifications asked by the government, you should make sure to get it first into writing. 

Why? Because the government does not care if you make a mistake or if they are the ones who did it. If they can’t see those specifications in paper, then they won’t pay you. 

“They don’t care about anything that’s happening in your life, your personal life, or anything happening between you and the guy who told you that this thing was going to be square versus round. So make sure, the only way that you can really cover yourself is to get it in writing. You want to make sure that the first thing you do is get stuff in writing.”

2. Meet all the specifications.

Some people who watch my video usually bid for commodity-type items on sites like FedBid, NECO, or Dibbs. With this type of doing business with the government, you should make sure that you meet the requirements and specifications of the product they want. 

If they want a green headphone, you should give them green headphones. Regardless if your supplier doesn’t have that type of headphone, you still need to provide it. You may either look for other suppliers or you don’t bid the job. 

“Do not bid a job with something that’s different, that’s less, or inferior, than what the government’s asking for. Make sure that you’re giving exactly what they’re asking for.”

Also, even if it doesn’t make sense, give it to them anyways. Why? Because the government will pay for their mistakes. As long as you give them what’s written on the contract, they’ll pay you. 

3. Get supplier credit.

It doesn’t make any sense to go out here and attempt to bid jobs or attempt on pursuing opportunities that you don’t have the ability to finance. So, get yourself some supplier credit or ask someone or a company to provide it for you.  

“If you don’t have any money, you don’t have any resources, you don’t have any… a teaming partner or a company that you’re working with that has the ability to purchase this item, I would not encourage you to bid it.”

Don’t try to figure it out later, after the fact that you bid on it because I have met a lot of people who have won projects, but can’t do it because they don’t have any resources. 

In fact, these are the things that you need to think of first, before you actually take on the challenge or actually start bidding jobs.

If you want people to help fund your bids, then find a network of people who can vouch for you. If you also want to learn how to get yourself some supplier credit, don’t worry we have a video made for that. 

“Learn these things that you need to do. Put yourself in a position to be ready when the time is right.”

4. Know your numbers.

You need to know how to price your jobs and with this, you need to ask these questions:

How much profit do you have in that job? How much is the product? How much do you need to transport that product from the supplier to the agency? Do you pay your workers the right wage? 

“The only way that you would know what you can and can’t do is based on knowing your numbers. So have a good grasp of your numbers. Know what the things cost. Know what it costs to get it to where you have to get it to. Know what it costs to install it. Know what it costs to integrate it. Know how many people you need. Know your numbers.”

5. Don’t go at it alone.

A lot of people out there are one-man companies and a lot of my audience are people who want to shift from one career to the other, but in doing these things, you should not do it all alone. 

You can technically do some stuff on your own, but for other things, you can’t. You need resources. 

There are people out there. There’s mentorship and other seminars out there. There’s PTAC and other organizations that are partners with the Small Business Administration that want to help you. There are also entities that are willing to do partnerships, joint ventures, and teaming with you. 

“I’m not saying that you need someone 24 hours a day or 99 percent of the time. But, have someplace, some resource, somewhere that you can go to kind of like piggyback your thoughts, your ideas, when you’re doing this stuff.”

6. Prepare to work.

Government contracting is not a get rich quick scheme. It is work and if you’re not prepared to do the work, then you’re not ready for this. 

Now, some of you might have a day job or are working on other things, but consider that doing this is also a job and in order for you to get something out of this, you need to do the work. 

“We all have lives, I understand all that kind of stuff. But, again, it’s work. It’s like anything else. You get out of it what you put into it. So, if you put in very little, you’re going to get out very little. Simple as that.”

7. Cover the time element.

I’ve seen projects where the government said, “Listen, provide us this item from the day we execute the contract. We need it delivered to this particular location in three weeks.”

Now, that statement or specification is critical. If your supplier can’t meet that requirement, then you don’t need to pursue that project. If they can’t deliver that item to this particular destination in three weeks, then I would not go with their price.

Even if their price is lower than the guy who can deliver it in three weeks, you should not agree to it because you will just then be kicked off of the job for failing to perform. 

“You don’t want to be considered non-responsive for failing to meet that requirement. That’s a very easy way to disqualify yourself before you get started. And bids are so time consuming. There’s so much work that we put into this stuff that, why would you want to even be disqualified coming out the gate? So make sure you meet that time element.”

RESOURCES

With this in mind, if you want to learn more about the tips and tricks in winning government contracts, then join us here at GovCon Giants.

Just visit our website and other social media platforms or check the new GovCon Edu where you learn everything about government contracting!

You can also check these resources below to learn more about the topic above:

Don’t screw up your first federal bid, follow these tips

https://youtu.be/Y_-uiGSnkSQ

https://govcongiants1.wpengine.com/wp-content/uploads/2018/11/Dont-screw-up-your-first-federal-bid-follow-these-tips-1.pdf

Fundamentals and Basic Building Blocks of Winning Federal Contracts!

Posted on by Eric Coffie

Want to become a prime and start doing government contracts? Then, read this blog to learn the fundamentals and basic building blocks of doing federal contracts!

LET’S START WITH THE BASICS! 

Looking at my previous content, I made a bunch of content talking about specific things that the only people who were familiar with are already doing business with the federal government, so I decided to make this content where I actually start connecting the dots.

“I’ve got great videos, but if you’re not familiar with how to put the pieces of the puzzle together, then they’re just, basically, puzzle pieces scattered out.”

Note, that this blog is only for those people who want to become prime contractors. These contractors are basically companies that have direct contracts from a specific government agency. 

However, if you want to do business with the government, but don’t want to go that route, we have videos on my Youtube channel about being a subcontractor and a consultant. 

FOUR FUNDAMENTALS

1. NAICS code

A North American Industry Classification System (NAICS) code is a six-digit long code that  distinguishes the products and/or services that your business would like to provide to that specific agency.

If you also provide a wide variety of multiple products and services, then you can certainly have a multiple NAICS code. 

You can view the NAICS code list from the U.S. Census Bureau or by contacting the bureau through 1-888-756-2427 or on their email address, [email protected].

If you want to know about this code and how to choose one, then check this video entitled “Primary vs Secondary NAICS Code.”

2. DUNS number

A Data Universal Numbering System (DUNS) is a nine-digit identification number assigned to identify your business and to track your company’s credit record.

It is actually similar to your EIN number, the tax ID number that’s assigned to your business after you’ve set up your corporation.

Note that a DUNS number is free to obtain and if your business is in various locations, then you need to get a different DUNS number for each location.

To get your DUNS number, you can go into the Dun & Bradstreet website or you can either request via this toll-free telephone number, 1-(866) 705-5711.

If you want to know more about this code and how to apply for one, then check this video entitled “How to Apply for a DUNS Number.”

3. SAM.gov

The System for Award Management (SAM) is the website where all particular companies that are doing business with the government, even if you’re talking about Boeing and SpaceX, need to register. 

In registering, you primarily need to create an account first. You can either choose an individual user account or a system user account. However, it is preferred to create the latter.

After creating an account, you can already register but make sure that you appropriately fill all of the information.

Depending on the complexity of your business, your registration might take about an hour and it can also take an average of 7-10 business days to process in the database. 

Other than that, you should update your SAM profile on an annual basis or when a certain change in your business information is made. The updating or renewal process might take for approximately an hour before it becomes active on your SAM profile. 

If you want to learn more on how to register in SAM, then check this video entitled “Register System for Award Management “SAM.gov” to win Federal Contracts.”

4. DSBS

Before you finish your SAM profile, make sure to go down to your Dynamic Small Business Search (DSBS) page and answer the necessary information because you can use this to create a unique profile for your business. 

“This is what helps you stand out from the crowd. This is your opportunity to highlight your history, your past performance, and give a brief description about your company to fellow agencies.”

Besides, information in the DSBS is publicly available and is widely used by contracting officers to help them choose between two similar companies entities.

With this in mind, you can check this video entitled “SAM.gov part 3 of 3 (SBA Profile) Dynamic Small Business Search” to learn more about the process. 

BASIC BUILDING BLOCKS

1. Professional email address

This seems like a very novice concept, but we don’t need people out there with [email protected], we need people with professional email addresses that represent their company. For instance, it can say yourname@llccorporation or suchandsuchpainting.com.

2. Website

As a prime, it doesn’t make sense if you don’t have a website because these are what most consumers or buyers tend to look at. Besides, websites are so inexpensive to create. 

3. Corporate Identity

When we’re talking about corporate identity, we’re talking about your marketing materials like your business cards, brochures, and things like that. Remember, corporate identity is your logo.

“(It should be) something that when someone sees it, it sticks out that that is your brand and who you are.”

4. Capability statement

Your capability statement is your company’s resume and it should be formatted in a certain format that has information that agencies look for when talking to you. 

This is especially important because when you’re going to go around and you start talking to small business agencies and small business specialists, they’re going to ask you for your capability statement. 

If you want to learn more about this, then check these videos on how to “Build a professional capability statement for pennies on the dollar!” and “Capability Statement Do’s Don’ts Resources and more.”

RESOURCES

Now, you have the fundamental pieces of the huge puzzle. Note that these are just the building blocks and fundamentals for interested businesses that want to become prime contractors. 

With this in mind, if you want to learn more about the tips and tricks in winning government contracts, then join us here at GovCon Giants.

Just visit our website and other social media platforms or check the new GovCon Edu where you learn everything about government contracting!

You can also check these resources below to learn more about the topic above:

BASICS Building blocks to win federal contracts! (government)

https://youtu.be/jqfX2ZBg2Ck

https://govcongiants1.wpengine.com/wp-content/uploads/2018/11/BASICS-Building-blocks-to-win-federal-contracts.pdf

5 Step Formulas for Overnight Success!

Posted on by Eric Coffie

This is the time to take action and stop asking different questions about federal contracting. Use these 5 step formulas for your overnight success!

CREATE AN ORGANIZATION

This seems very basic but you have no idea how many people want to win federal contracts, yet they don’t even have an organization or haven’t even formed an LLC. 

If you haven’t created your organization, go ahead and do that first before you start pursuing contracts. With this, form an LLC because it’s easy to manage, cheap to open, and you can restructure  it any time.

It may seem mundane but you better do that first because we’ve had a scenario where people actually won a contract, but because they didn’t have a corporation (they only wrote it under the name of a corporation that wasn’t even incorporated),  the government could not award them the contract.

RECRUIT THE BEST PEOPLE

If you are building an all-star team for a video game, would you add the best basketball players or choose the ones that are not even that great? 

Of course, you would choose the best people. And that is the same thing with building a team for a contract opportunity. You make sure that you find the best people and the best companies to partner with and not just hire someone because you are related to them in some way. 

Where to get people?

You can get the best people through industry trade shows, conferences, and networking events.

Every single industry, no matter what product that they sell, has a conference where you will find all of the CEOs, the executives, and the corporate people in any respective industry.

However, you should make sure that you are talking to these people during these events and not just taking advantage of the free stuff there. Go to their table, sit down with them, and talk to them. 

“I went through the book and I got the pictures and I was able to establish an actual, a real rapport with those persons where they were able to give me their contact information later for questions because I wasn’t part of the massive crowd or audience trying to get their autograph or shake their hands after they were presented with an award. I got to them beforehand.”

What do you offer them?

You should present them an opportunity, may it be a contract, an increased revenue, a new marketing opportunity, and the ability to expand and grow their brand among others. 

There are a lot of things you can offer. Just make sure to present these to them while talking to them on these events or afterward because that’s how you get their attention. 

What are the benefits of hiring large companies?

1. They have money. 

If you’re working with a large organization, they have cash and lines of credit at their disposal and they’re more willing to let go of these money in exchange for an opportunity because they understand that nothing comes for free. 

However, if you work with your friend’s company who doesn’t have any money or any resources, they can say that they are certified, but besides that, they can’t really offer you anything else.

2. They have resources. 

It’s instrumental that you have resources when you start targeting set-aside projects because you’re gonna have to put together technical proposals and a lot of times you’re gonna need someone to put these together and review them over a short turnaround window.

3. They have history and past performance.

It makes it easier for you to talk to contracting officers and small business specialists when you have a huge company to back you up because in that way, you tend to speak confidently knowing that you have the team and the resources that they need. 

For instance, imagine working with a small company that doesn’t have resources and because of that, you overlook a million dollar mistake. That’s going to be a huge problem.

However, if you’re working with a huge firm, they surely have people to foresee that problem or the cash to pay for that. 

4. They are progressive thinking

Large companies understand the federal arena and they may already have people who have already investigated the market and understands the power of federal contracts. So, you don’t have to actually even sell them on that.

The only thing that you’ve got to do is convince them that you’re the right person to work with in obtaining some of these contracts.

5. Have the ability to branch out.

The last advantage of working with large companies is that they have the ability to branch out and work in multiple states.

TAKE ADVANTAGE OF THE BIGGEST GOVERNMENT LOOPHOLE

The All Small Mentor Protégé Program is brand new and once people understand the power of this program, in a very short period of time, they’re gonna close this as well because this is the same program that was modeled after the 8(a) program.

It’s the same program that highlights that if you’re a certified small business, then you can partner with a large company to pursue a specific opportunity. The catch is you should partner with them as a joint venture and then they agree to become your mentor. 

Then, that large firm now takes on your small business size; so if that company does $50 million a year and you do $50,000 a year, that company now qualifies as a small business and you guys can bid on these huge projects together.

So, while this program is still open, take advantage of this now!

START PURSUING IDIQ OPPORTUNITIES

IDIQ stands for Indefinite Delivery, Indefinite Quantity contracts which are opportunities that are multiple year contracts, so the contracts usually range from zero to five years and these have a dollar threshold that goes from zero to a hundred million dollars. 

So, how this works is if you get to the five years, whatever money you spent, that’s where it stops. Also, if you get to the hundred million threshold in three years, then that’s where it cuts off.

What are the benefits of IDIQ opportunities?

1. These are similar to a blanket purchase order.

A blanket purchase order is essentially when the government lumps together a whole bunch of projects that they want to get accomplished.

For instance, one of the company’s I consulted with was on a million dollar IDIQ and in that IDIQ, they need to pre-qualify in order to participate.

The good thing is these companies don’t need to bid on each contract or job because they are essentially prequalified in that IDIQ’s hundreds of jobs. 

2. There are a limited number of participants in the pool. 

An IDIQ doesn’t have hundreds of people in it. To give an example, SATOC and MATOC just have less than 10 companies in it, maybe even two companies competing for millions of dollars. 

3. Once the pool is closed, it is closed. 

Even if you’re a qualified company to be part of the pool of companies in an IDIQ, once you are late to prequalify yourself, you’ll never get in. 

That’s the benefit with these IDIQs because once it’s closed, it’s closed and they don’t add more people just because they are qualified, so you’ll be able to take advantage of its benefits until the time period closes. 

4. No company can do all the projects simultaneously.

Don’t think that you won’t have an opportunity in the federal marketplace. Consider that the federal government is spending millions of dollars a day. 

The best thing that you should do is work with the best company that you can find because you’re likely to be as good or better than the competition. The only difference is that they don’t know that these opportunities exist or how to pursue them and that is where your value comes in.

RINSE AND REPEAT

Once you win an award, the chances of winning becomes astronomically easier because the entities recognize you. 

However, instead of just bidding for projects after projects, why not consider a multiple year award contract that consists of hundreds of contracts with that information?

Consider that the documentation and paperwork is just the same whether it’s a small contract or a huge one, but what matters most is how people will look at you and your company.

Again, the contracting officers are risk-averse, but if you show that you’ve qualified for an IDIQ, then that legitimizes your business and who you are. 

“It’s another sales tool in your arsenal or marketing strategy that you can use and leverage when you’re going out and you’re talking to people on that.”

RESOURCES

Now, you already have the 5 step formulas for your overnight success, so stop asking questions and start taking actions!

Remember, if you plant a seed and you give it proper care, then it will grow into a plant and someday a tree. That’s the same way in this marketplace. You will just be closer to winning, once you do the legwork. 

With this in mind, if you want to learn more about the tips and tricks in winning government contracts, then join us here at GovCon Giants.

Just visit our website and other social media platforms or check the new GovCon Edu where you learn everything about government contracting!

You can also check these resources below to learn more about the topic above:

5 Step Formula for Overnight Success – Govcon Training Day 4

https://youtu.be/lMMWh5dSbgU

https://govcongiants1.wpengine.com/wp-content/uploads/2018/11/5-Step-Formula-for-Overnight-Success-Govcon-Training-Day-4-.pdf

6 Reasons to Form Your Corporation Today!

Posted on by Eric Coffie

Want to do business with the government, but don’t have a business yet? Well, in this blog, let me tell you why you need one. These are the reasons to form your corporation today!

ALMOST FREE

Here in Florida, when you were to actually go to sunbiz.org and register your company, it’s just $125.00. 

It might be less than or more than that dollar amount in your state, but regardless, it will not exceed a thousand dollar.

In that sense, I even think that that amount is free, considering that there are thousands of contracts in the government marketplace worth thousands and millions of dollars.

GET THE CLOCK STARTED

Most government agencies, whether they’re local or federal, are always looking for a company’s history. These also include banks and other financial institutions.

So, it is best to register your company now because you can already go ahead, get the clock moving, and take that direction.

This way, if you are ready to become a prime and you need any types of credit lines or if you want to borrow money for some of your suppliers, then you already have the history and past performance. 

START MAKING MONEY

Once you get to form your corporation, you can already start making money by being a consultant or a subcontractor to a large prime who’s already doing the type of work in your area and the type of work that you want to do. 

The only thing to consider is that you already know the product and services that you want to offer.

TAKE THE 1ST STEP

If you don’t know what your products and services are yet, it’s okay because you can start learning by researching the marketplace and finding out where the opportunities are afterwards. 

“That’s exactly how I got started back in 2007, with no relationships, no connections, and no money. I simply jumped in, head first, and I started learning about the market, and learning about the opportunities, and then I became a consultant to a much larger prime, and then started working the marketplace.”

TAX BENEFITS

By forming a corporation, you can start spending pre-tax versus after tax dollars, and if you decide to take the route that I took, which is becoming a consultant, now you can start dispensing everything through your business.

PERSONAL INCOME

One in three small businesses generate $100,000 a year in personal household income. That puts you in the top 10% of people nationwide for earning potential.

So why wait? Start your corporation right now!

RESOURCES

Again, no reason to just wait for something to happen, the baby boomers are already retiring and we already understand that 80% of all contacts go to the incumbent, so it is best to create the road on our own. 

With this in mind, let me help you become an incumbent and achieve your goal and your lifetime dream of earning all that you can in the federal marketplace.

Join us here at GovCon Giants by visiting our website and other social media platforms or check the new GovCon Edu where you learn everything about government contracting!

You can also check these resources below to learn more about the topic above:

6 Reasons To Form your Corporation TODAY! Government Contracting 101

https://youtu.be/NpoNXwhZDuw

https://govcongiants1.wpengine.com/wp-content/uploads/2018/11/6-Reasons-To-Form-your-Corporation-TODAY-Government-Contracting-101.pdf

 

Find Out What Agencies are Buying Today Using Your Forecast List!

Posted on by Eric Coffie

What is a forecast list and why do you need this? Continue reading this blog to learn more and to know what your target agency is buying today!

WHAT IS A FORECAST LIST? 

A forecast list essentially a projection of all upcoming projects for a given department or agency. A lot of times, this list goes from year to year, but sometimes it goes for a few years or if not, they break it down by quarters.

Some of the information that you can get from an agency’s forecast list may include the units, the solicitation release date, the award date, and the total amount that’s gonna be awarded in the contract.

“The forecast list, in my opinion, is the start of your networking and your marketing with agencies within the government. This is where the rubber hits the road. You wanna actually concentrate heavily on putting in the work here so that you can start finding out who the people are that you need to talk to, meeting with them, and start planting those seeds. That’s what’s gonna help drive your future contract opportunities.”

WHEN DO YOU NEED A FORECAST LIST?

When you already have your target market list and you understand who your customers are, that’s when you need a forecast list because now, you’re already ready to talk to agencies.

Still, this is assuming that you have your stuff together, meaning, you have suppliers, contacts, team, an experience or past performance, and lastly, you’re already ready to get into federal contracting.

If you don’t know what a target market list is, better check this video that we created. 

WHERE DO WE OBTAIN OUR FORECAST LIST?

1. Acquisition Central

Acquisition Central probably has the widest range of forecast lists from different government agencies. Still, consider that it might not have the complete lists of agencies in their database. For instance, the Department of Defense is not there. 

In order to look for the forecast list, you basically need to visit the website and scroll down and click on the “Procurement Forecast button.” Then, you will then be redirected to the Agency Recurring Procurement Forecasts where it lists the results from different agencies. 

After that, you can then click that agency’s forecast list on the right side of the page and you will be redirected to their forecast page wherein they put the file of their forecast list along with other information. 

2. Agency’s OSDBU website

The second way is going to the agency’s website and going directly to their OSDBU page as this office mainly has small business specialists who are responsible for handling businesses that want to work with that agency.

All you have to do is just look for their OSDBU page or looking directly for their Procurement Forecast page or through searching the keyword “forecast list” on their search box. 

3. Agency OSDBU Office

If you can’t find that agency’s forecast list in those two ways, then it would be best to actually pick up the phone and email their office or call their OSDBU hotline.

They will either point you in the direction of the list or they’ll actually send you to maybe a particular small business region that’s more specifically focused on the criteria that you want. 

Still, you should consider that these three ways will be of no value if you call and ask for a particular NAICS code that they aren’t buying. You should know beforehand what products and services they want. 

HOW TO READ FORECAST LIST?

Apart from using the forecast list as a way to inform you about future projects of a specific agency, you can also use this to actually learn about certain information that you might need in doing your paperwork. 

This is essentially because aside from the basic information of the solicitation release date and the award date, this also tells you about the pricing and structure, as well as gives you understanding on how the contract reads for your particular industry. 

HOW DO I USE THIS INFORMATION?

1. Create networking opportunities. 

The forecast list mainly helps you make a  connection with the small business specialist because when you meet with them, you already have particular opportunities that you want to discuss.

Aside from that, it also helps you connect with the incumbents who are already doing business with that specific agency.

You can then reach out to them and actually talk about specific products and services that you offer within his particular contract vehicle.

2. Gain decision makers’ contact information. 

Aside from contract opportunities, the forecast list also lists different points of contact and their contact information.

In fact, that information is pretty much across the board on every forecast list of every agency. 

3. Lunch and learn. 

The people who are usually putting the contracts out don’t know how each project works. This is why they’re always looking for people and companies that do this day in and day out. Hence, this is where you can lunch and learn with them. 

With this, you can start communicating with them for them to learn about you while you also learn about specific contracts or a particular forecast where you can showcase your expertise.

4. Determine the events to attend. 

You need to be in places where the engineers and points of contacts are gonna be. That’s how you help determine the events to go to.

RESOURCES

Now that you know what a forecast list is and what to do with it, the next thing to do is to actually actually communicate with your small business specialists and other target people. 

Again, you should only trust the process. Get your target market list and your agency’s forecast list, schedule meetings with the OSDBU, and start making yourself known within a government agency.

With this in mind, let me help you become an incumbent and achieve your goal and your lifetime dream of earning all that you can in the federal marketplace.

Join us here at GovCon Giants by visiting our website and other social media platforms or check the new GovCon Edu where you learn everything about government contracting!

You can also check these resources below to learn more about the topic above:

Find out what agencies are buying TODAY using Forecast List!

https://youtu.be/aMqYvftdZAE

https://govcongiants1.wpengine.com/wp-content/uploads/2018/11/Find-out-what-agencies-are-buying-TODAY-using-Forecast-List.pdf