Federal Compass - Waypoints

For the 35th year in a row, the defense industry will bring together some of the brightest minds, innovative companies, and key stakeholders in the field of naval and maritime technologies. Navy Gold Coast is a premier conference and expo that plays a crucial role in fostering collaboration, information sharing, and advancement within the defense sector.

 

The event is organized annually by the San Diego Chapter of the National Defense Industrial Association (NDIA). The focus is on supporting the Navy, Marine Corps, and Coast Guard, and the event acts as a platform where government officials, military personnel, and industry leaders, converge to exchange ideas and insights.

In the realm of federal government contracting, having a well-defined and effective strategy is paramount for success. Unfortunately, the pursuit of revenue often overshadows crucial elements - crafting a comprehensive strategy, adhering to it steadfastly, and seeing it through to fruition.

 

In this episode of the Bourbon & Proposal podcast, the focus of the discussion is creating a strategy and identifying the different elements that are involved with it.

 

A sound GovCon strategy encompasses:

• Targeting agencies and opportunities aligned with the company's expertise.
• Highlighting competitive advantages, technical proficiency, cost competitiveness, and socio-economic certifications.
• Staying consistent with the strategy while remaining adaptable to market changes.
• Continually building trust and credibility with government agencies.

Throughout the episode, you will find tips and action items to help enhance your team's current strategy. Growth in GovCon does not happen overnight. It is a long and grueling process that, when done strategically and thoughtfully, can pay tremendous dividends for your team.

For federal government contractors, navigating the complexities of procurement can be a daunting task. With numerous agencies, regulations, and processes to consider, finding the right opportunities can be time-consuming and overwhelming. Especially if you are a smaller business with limited resources.

 

Fortunately, the General Services Administration (GSA) has a solution that simplifies this process: GSA eBuy. Understanding what it is, why it is important, how it works, and the benefits it can provide your business could help save you time and resources. To add to this, if you are unable to gain direct access to GSA eBuy, our platform, Federal Compass, has a plug-in that can provide you with this access.

In the highly competitive realm of federal government contracting, understanding, building, and demonstrating value is essential for success. Whether you're considering mergers and acquisitions, attracting potential buyers, collaborating with government agencies, or forming partnerships, showcasing your value proposition is crucial.

 

This, unfortunately, is a large pain point for smaller contractors. It is about understanding the market, the customer, teaming partners, and where they fit into the market. In the unfortunate event that others do not find value in the company, success will be very hard to come by. Identify ways to increase your value in the GovCon market and explore strategies to better demonstrate your value proposition to potential buyers, the government, and teaming partners.

In this episode of the Bourbon & Proposal podcast, we delve into the crucial role of human resource (HR) solutions in empowering small businesses to thrive in a dynamic and competitive landscape. We explore the importance of strategic HR practices, the challenges faced by small businesses, and the transformative impact that effective HR solutions can have on their growth and success.

Throughout the episode, we offer practical tips and actionable insights and explore how HR solutions can be a game-changer for small businesses, enabling them to overcome challenges, attract top talent, and unlock their true potential in today's ever-evolving business landscape.

For smaller federal government contractors, winning larger, more lucrative contracts is front of mind. This means there needs to be an in-depth understanding of how to implement an effective proposal development methodology. One of the most widely acclaimed methods is the Shipley Method - a comprehensive framework that guides contractors through the complex process of winning government contracts.

 

Used by a large portion of the top Fortune 100 companies, the intricacies may be far more complex than what your smaller team is capable of. If this is the case, this post is designed to help break down elements into more manageable steps to maximize your chances of success.

"In an era where federal contracting businesses are seeking to establish a competitive edge, Federal Compass emerges as a beacon of guidance, offering seven effective strategies to significantly improve the success rate in securing government contracts.

What is your capture management process? If you are like most government contractors, you identify opportunities, add them to your pipeline, put a strong bid together, and hope for the best. Not a bad process. Sometimes all you can do is hope for the best. While this process has worked for some, and maybe you, there are areas to vastly improve upon.

 

For smaller, less-established contractors, processes look relatively similar to one another due to budgetary and resource constraints. This leads to multiple people wearing multiple hats. The biggest problem...who wears which hat and what happens when they get too heavy?

 

Identifying opportunities is typically the business development (BD) person's job while the person or people putting the proposal together are the proposal managers. Easy to identify. Still, what happens in between is where many contractors struggle. The actual capture management process. Handing over data to another team that is accurate, up-to-date, relatable, and actionable, is often a struggle. Many teams use Post-Its, emails, or spreadsheets because they are cheap, relatively effective, and can work. While it would be easy to point out the issues with each of those methods, the goal is to help you improve your existing capture management process. 👍

 

The United States Geospatial Intelligence Foundation (USGIF) is hosting its 20th annual GEOINT Symposium at America's Center Convention Complex in St. Louis, Missouri from May 21-24, 2023. This is widely considered to be the largest annual gathering of geospatial intelligence professionals in the nation with more than 4,000 government, military, industry, and academia, expected to attend this year's symposium. We, Federal Compass, will be exhibiting and we hope you can stop by booth #1231 to learn more about us!

 

Everyone has their own definition of success. According to Merriam-Webster, success is defined as a "favorable or desired outcome" or "attainment of wealth, favor, or eminence." With a lot of room for interpretation, no wonder different people define it in various ways. In a study conducted between men and women and how they define success, women defined it as having a good life balance and good-standing relationships while on the other hand, men defined it as having more material items. While gender is not the only factor that should be taken into account, age, personality, and experience should also weigh heavily into the definition.

 

If you were to ask a college student what they thought success is you would probably get an answer about how they would get a high-paying job in their field and be able to retire young. If we could go back and ask ourselves at 18 what success is we would surely get a much different answer than we would give now. And to think I thought journaling was useless.

 

As a federal contractor, how would you define success? Not specifically for yourself and your team, but for someone new to the marketplace? Would your definition be close to where your current market position or would it raise some eyebrows and make you say " I think we need to make a few changes to do x, y, and z"?