Thinking about selling a federal contracting business? This rewarding experience does not happen overnight. It does not even happen in a matter of months. Before thinking about what will happen once the sale is complete, there is a lot that goes into this often long and arduous process.
Whether you are seeking inorganic growth opportunities or strategic partnerships, situational awareness is the key to identifying potential pathways. These types of relationships and acquisitions often spawn from a specific need, and when that need becomes a pain point, inorganic growth can stall, and teaming partners can become strained. When trying to identify these potential opportunities in the ever-crowded field of federal contracting, it can often feel like searching for a needle in a haystack.
The overall value of a federal contractor's pipeline is not based on quantity, it is quality. This sounds super simple and like it would be a no-brainer, but you have probably fallen victim to the "win anything" mentality more times than you would like to admit. High-dollar opportunities help drive revenue, but when revenue is sacrificed for company identity, it creates chaos in the pipeline and pushes companies into an environment that is difficult to change.
There are plenty of questions that federal contractors have. How do we win more federal dollars? How can we grow and expand into new markets over the next decade? While these are great and important questions to ask, but they address a much broader approach. The questions you should ask of yourselves should help bolster your internal strategies to understand where you are positioned and where you are headed. Rather than ask why it is taking so long to expand into new markets, analyze if you can expand into that specific one, are there better ones, and if not, is there a pool of teaming partners who could help. You can ask broad questions but the answers provided should paint a much more detailed picture.
In today’s fast-paced world, something that we often do not take the time to do is look at ourselves in the mirror. Taking a moment to reflect on who we are, what we are looking for in life, and where those few gray hairs could have come from often gets lost in the shuffle. Unfortunately, the same can be said about federal contractors. Finding opportunities, submitting RFPs, analyzing data, talking with teaming partners, working to grow the business itself, there are a ton of moving pieces and taking the time to reflect often gets overlooked. Taking the time to discuss and reflect on the past can say a lot about where the company is heading. When overlooked, the future trajectory may look much different than it did several years prior.
Complex, intimidating, and overwhelming are the three most common words used when describing federal contracting. Federal contracting is a great opportunity for businesses interested in winning billions of dollars that are set aside for contractors. Especially for small businesses, women-owned, service-disabled veterans, minority-owned, and historically underutilized business zones. With nearly infinite possibilities for revenue, far too many contractors overlook the one crucial element critical to their success. Self-evaluation.
The United States Federal Government is the largest employer in the world. However, with nearly 3 million employees, they lack the necessary resources and expertise to satisfy their needs across different departments. To accomplish their needs for products, services, knowledge, parts, and the like, they release federal procurements for registered federal contractors to bid on.
How does the government keep getting it so wrong? The pause on Polaris marks the second speed bump for a GWAC. Previously, the CIO-SP4 RFP presented a puzzle that made the Rubix cube seem simple. For any small business capable of navigating the labyrinth of process and layers of scoring, they came out on the other frustrated with an unbalanced approach NITAAC used that placed small businesses at a disadvantage. Not to be outdone, GSA advertised a wildly adventurous process for the looming BIC MAC competition and followed that up with an RFP that basically turned Polaris into Alliant 2, part 2.
The GSA didn’t merely give an advantage to JVs, they offered up the entire program to every Alliant 2 prime and large federal contractor who missed out on a seat. Had the competition gone through, small businesses who have played proxy for larger contractors, while actual small contractors would have struggled to score well or have any real chance to compete with larger ones, parading around as helpful mentors.
In an effort to procure IT products and services in a more efficient manner, the Federal government created Government-Wide Acquisition Contracts (GWAC). GWACs are administered and managed by the General Services Administration (GSA), National Institutes of Health, and NASA, in an effort to reduce friction and delays when federal departments look to acquire technology-related goods and services.
In a market that is more complex and competitive than ever, is your market intelligence ready for the challenge? Move beyond reacting to the market and get the insights you need to put yourself in the right direction. Federal Compass does just that.
