Manage Your Expectations. Most, and I mean most, 80%+ of companies that attempt to get
in the federal space fail within the first 12 months. Another 10%-15% fail by
18 months, leaving less than 5% surviving past 24 months. So you can look at it as incredible risk, or
you may see this as the market thinning out your competition. The ones that
make it not only survive – they thrive.
Budget for Success. Did you know that the average successful small
business federal contractor spends over $165k per year in federal marketing and
business development? That’s right. This is the #1 challenge in federal marketing
because you can spend that kind of money and still not get a dime if you are
riding the wrong horse. It is highly likely the people you need are not on your
payroll right now. Look for force multipliers… the people, partners,
trusted advisers that can help reduce the learning curve and accelerate your
Be Proactive. You can’t sit on the bench and expect
someone to let you take a shot. If you want to win, you better be going after
your competitors’ buyers NOW. March through June is your chance to get
positioned before the money is allocated for 2019 spending this September
Get Ahead of the RFP. Rule #1 is if you
didn’t influence the RFP then your competitor did. Opportunities come
from people, not FBO or even GSA eBuy. Did you know that most winnable
opportunities are competed between less than 5 companies? You want to be
one of the 5 and you get there by people liking you.
Stay the Course. Give yourself 24-36 months to develop traction
and you will beat the vast majority of the competitors in the federal market.
This is what the incumbents did – you can do it too!