This guide explains how to be successful on an ongoing basis in government contracting.
Through expert advice and real-world examples, this guide will help prepare small businesses to continually innovate and establish a differentiated position within the government sector. Specific sections include:
- Five Innovations for Becoming an Accomplished Government Contractor
- How to Differentiate Your Company From the Competition
- From Startup to Success: IT Firm Outlines Winning Approach
- Four Common Missteps to Avoid
- Associations and Other Resources
- Checklist: Key Milestones in
- Researching, Bidding and Winning a
- Government Contract
Government agencies seek vendors who can clearly define why they are a better choice than the competition. The ability to clearly articulate your value proposition and hone it when necessary is an important element to success in government contracting, as it is for all your sales and marketing efforts.
Here are four strategies that companies have successfully implemented in order to stand out from the rest.
1. Turn a unique methodology into a competitive advantage
When a staff augmentation firm wanted to set itself apart in a commoditized market, it developed a proprietary methodology for assessing talent and offered a guaranteed success rate for each contractor it placed within a government agency. The company created a strong market position around its talent assessment process and explained how this process enabled its contractors to be better prepared. This approach has gained the firm much recognition and a wealth of new government business.
2. Rebrand to promote a specialty
A system integration company found itself amid a sea of competitors. The firm conducted in-depth strategy sessions on achieving growth, and company managers determined that their expertise was in breaking down silos between departments. They renamed the firm to reflect this strength and embarked on an ambitious marketing campaign to build brand awareness, experiencing huge increases in revenue by differentiating themselves from the competition.
3. Look beyond existing core competencies
The bulk of a technology provider’s business was in munitions development, but it could see that the government was shifting some focus away from defense funding. Realizing the increased demand for energy efficiency, the company repurposed its existing technology to create renewable energy products. Through innovation and advanced planning, the firm is now well positioned to take advantage of a burgeoning area of growth within the federal government.
4. Seek ways to solve customers’ emerging challenges
A technology services firm discovered a way to solve a critical IT management problem. It hired engineers to execute
the concept and documented how this new approach improved technology configurations and increased return on investment. With this shift in focus, the firm leaped ahead of its competitors. Today, its annual revenue exceeds $40 million.
Want to become an accomplished government contractor? Connect with a SCORE mentor online or in your community today!