Five Ways to Make FY19 Your Best Federal Year EverPosted: November 14, 2018
This is a guest post by Judy Bradt of Summit Insight.
Judy Bradt has surveyed federal contractors about their top business challenges since 2012. Her company, Summit Insight, provides business training, sales plans and mentorship to grow your federal business.
Early results from her 2019 survey show that the number one challenge to landing millions in federal wins is “getting in front of federal buyers.”
Is that true for you?
Tackle that one problem, and 2019 could be your best federal year ever.
Judy says, “There are five steps you can start taking today to get in front of your federal buyer and build the trust to become their first choice next time they are ready to buy.” Here are those steps:
1. Hot wash
A year-end hot wash is where you look at the process, patterns and outcomes of the year, along with lessons learned. What worked, what didn’t, and what’s promising? This gives you a foundation for what’s next.
Sample areas to check are:
• Data: Plan versus actual
• Marketing: Keep/change/drop
• Intelligence: Where wins came from
• Strategy execution improvement
• Win rate and profit
• How can buyers get to us?
Look back at who is winning the contracts you’ve lost. Doing a competitive analysis lets you create opportunities.
• Research players and layers
• See who they love
• Know how they behave
• Start with who you know
• Solve their problem
• Start small. Be persistent
3. Lower risk
Low risk attracts buyers when you can leverage your past performance. Do this by collecting:
• Business process data: systematic capture
• Summary table
• Key case studies
• Examples for tailored capability statements
4. Make it easy
Make it easy for them, with micro-purchase options, simplified acquisition, and by using their favorite vehicles.
Make is easy for you by using these tips for writing winning proposals:
• Better bid/no bid criteria
• A streamlined proposal process
• Mitigate risk
• Write like a pro
• Prevent fatal errors
5. Launch FY19 NOW
• Clean up your collateral like your core capabilities list and certifications
• Refresh your profiles with the Federal government, including GSAAdvantage, System for Award Management, and Dynamic Small Business Search; on state government vendor sites; small and minority certifications (federal, state, local, and commercial supplier diversity); prime contractor portals; social media (e.g. LinkedIn, Twitter, Facebook); and industry association member profiles
• Purge your pipeline (let go the stuff that you’ve realized are long shots you never had a hope of winning)
• Update and organize your contact lists
• Give gratitude by writing thank you letters to everyone who helped or spent time with you in 2018
For more guidance from Judy on how to make FY19 your best year ever, download her complimentary Federal Q1 Launch Checklist, FYE 2018 Edition at http://growfedbiz.com/Q1 (email subscription required).
Judy Bradt, Summit Insight’s founder, brings you 30 years’ experience working with more than 7,000 clients across diverse industries who credit her expertise in achieving wins worth in total over $300 million dollars. In addition to offering free monthly public webinars on federal contract success and high-value public and private training classes, Judy is the Vice President for Education and Training for the National Veterans Small Business Coalition.