Knowing when and why to “bid or not to bid” is a business decision we face as business owners on most days, especially, if you are doing business with the government. As a business consultant I’ve seen it time and time again.
Companies make the mistake of bidding on just about anything available to keep the work coming in and prevent production downtime. It’s not always the best decision for small businesses when they are just starting to get into this contract industry. Continue reading
We’ve seen the numbers and we still wonder where the large percent of small businesses in the United States are located.
More important are they really doing business? Yes, they are – take a look at the government stats – they represent about 3/4 of the self employed. Continue reading
Future business trends for the government and USA small business contractors is looking good! If you take a look around you’ll notice more small businesses are getting loans. Ok, that doesn’t mean the banks are just handing it out – you still need to be capable of paying it back.
According to ABC News “Small business lending is showing small signs of growth, according to data compiled by the government.” The numbers are showing a small jump from the last quarter of 2012, sending a clear signal that hope may be on the horizon. Continue reading
As a business mentor, I find small business owners know their product, but few have mastered the ability to clearly explain what they offer and exactly what the benefits are to the customer. The goal is to leave a lasting impression and when you call the customer to follow up, they remember you and the value your company offers.
Do your homework and know your customer. What are the challenges and the hurdles they face going into the future? What’s the best solution your company can offer to your customer to reduce or eliminate the questions and concerns they have about doing business.
I recently attended a small business event where the major primes were in search for a new breed of small business subcontractors. The event was in response to “we can’t find any small businesses”.
I believe what they meant to say is that “we haven’t been able to locate qualified small businesses prepared to grow with us”. The translation is importance - small businesses need to be prepared to do business on a larger scale and in exchange for these capabilities, local city offices are putting millions of dollars on the table for long duration projects. Continue reading
It’s not as difficult as it seems. Deciding to do business with the government requires some patience and a learning curve. First you need to know what type of contract fits your business model.
Let’s talk about fixed price contracts and the reason the government solicits this form of business contract. The need is flexibility – it’s about making the best use of the budget dollars, which are allocated for purchasing a variety and specific volume of supplies.
When we think about the government as a contractor we need to remember that the government isn’t much different from our own business. These contracts are developed on the belief that the contractor’s knowledge and experience will maintain the project costs stated.
Here’s more information about fixed price contracts. Continue reading
No matter what the state of the economy as a small business it’s about staying ahead of the competition and surviving. The best advice I received during my early days as a business owner was to “look for market segments where large corporations are few in numbers for the type of service or product, and your like size businesses haven’t a clue yet! It’s a niche without a doubt. Continue reading
Here’s come the new year filled with expectations and unknown certainties for all businesses. As small businesses regroup from the mad dash of the holidays, they began preparing to do business using their new found strategies, and improved processes with the sole intent of increasing the company’s bottom line, as well as maintaining existing business and customer satisfaction. Continue reading
The government is very motivated when purchasing supplies and services from local suppliers and small diversified companies. Small businesses need to take advantage of searching for government opportunities in their own backyards during fiscal year end. The reason is simple, less competition in some markets. Continue reading
During my early career, communications were delivered via fax, telecons and conferences. Today, we have access to the world using a variety of Internet platforms to communicate and send messages in real time environments. As business and technology move at high speed, new developments present a new challenge for leaders working with virtual teams. Continue reading
Growing a small business is no easy task, it’s a challenge, as well as, a learning curve that ultimately turns into a growth curve! In the beginning, whether you are an entrepreneur or a small business owner, you will be wearing several hats to keep the business operating on a daily basis. Continue reading
Large businesses appear to loom over small business and the largest business in the USA is the Federal government. Surprisingly, no matter the size of the business they share common internal functions for operations, ensuring order and maintaining consistency for continued success. Continue reading
This week was interesting, filled with changes in the weather, the price of gas and the cost of doing business. As small business owners, our lives are consistently filled with change to accommodate the market place and our customers. Our ability to shift and adapt should be part of the business plan, strategic planning and simply a way of life for a small business. Continue reading
In a roundtable session, I recently had an interesting conversation about company positions and functions - the question was, which position in a company is critical to its success.
The majority of small business owners believe that the company’s concept and its public’s awareness of why the client will buy the product are the fundamental keys to a successful business. Marketing and media staff members suggested that it was the advertising and the lure of branding that entices the customer to purchase the product. Continue reading
Small businesses who have been doing business with government, understand the business opportunities available at this time of year.
Great beginnings start with knowing the preferred buyers in your area. If you’re new to the arena, look for a partnering company who needs your services to complete the contract’s requirements. Take a look at the listed competitors, who have won contract for services or products similar to yours, and do your due diligence to locate the points of contact – schedule your appointments to meet with these contacts and introduce yourself and your company. Finding the right prospect and creating the perfect opportunity to present your company’s core capabilities will leave a lasting impression. Continue reading
Understanding how company branding works, and accepting the challenges of doing business, actually set the stage for your company’s path to success. While, these two business actions are developing, your company’s presence and values are being established in the marketplace. Small businesses need to know your market and your customer to create and implement a business brand that energizes the company, and informs the customer to the possibilities of using your product. Continue reading
Doing business with the government is systematic in all situations. Small businesses sometimes have difficulty during the early stages of pursuing government contract awards because they haven’t taken the time to really understand the rules and procedures. Continue reading
I recently met with a small company who lost the opportunity to bid on a contract that they were more than qualified to support. During my review and analysis of the company’s business development and marketing strategies, it became clear that the problem wasn’t the product, but how the company had positioned itself to be viewed online. Continue reading
If you’ve been to a small business networking event lately to learn about doing business with government, you’ve heard the term GSA (General Services Administration). This sector of government business isn’t much different when it comes to business requirements. Continue reading
Why is a Quality Management Systems (QMS) an essential tool for small businesses doing business with government?
The first business benefit to the small business is profitability. Quality systems are preventative actions, it eliminates potential duplication of costs pertaining to materials and labor. Second, a QMS sends a signal to your customer, letting them know your company understands the importance of reliable, consistent and quality products or services.