If you’re looking to grow sales with the government, you’ll need to approach things from a very calm and calculative perspective. If you’re impatient, you might lose out on big opportunities.
Keep in mind that just 22.5% of all federal contracts even go to small businesses, so fighting to keep those contracts is critical. So, what can you do to continue improving and securing greater government sales?
Follow this short guide to find out the steps you should take.
Specialize in the Demand
The government provides contracts for a wide range of products services, but the ebb and flow of demands can make or break your success. By following federal requirements and adapting to government demands, you can grow sales efficiently.
Spend less time worrying about perfecting products and more time researching needs. Remember, at least two-thirds of government contracting is spent on IT and support services, not products and consumables.
Learn from the Best
Find other businesses and contractors who have experience working with the government. Be in networking space and events that government agencies participate in. Don’t be afraid to reach out and ask questions on social media.
Having a mentor or partner (pay one, if you have to) brings great advice, potential connections, and help with important tasks, such as grant writing. Strategic partnerships can improve your offerings and expand your service and product reach.
There are so many opportunities for tax breaks and grants out there, it’s impossible to know about all of them by yourself.
Broaden Your Horizons
Don’t limit your potential by putting all your eggs into one basket, or a single contract. Go for local, state, and federal contracts. That way, if one falls or gets defunded, you’re not back where you started.
The least stressful way to grow sales is to expand opportunity for growth by exploring more agencies. Traditional optimizations, i.e. overhead cost-cutting, outsourcing, can only get you so far.
At the same time, though, you should cast your net with precision. You can do this by taking a moment to understand each government agency’s prospects by viewing their “procurement forecast” statements. It sounds a little involved, but these are the equivalent of business press releases.
Investing in the Tools to Grow Sales
After you have done all your homework, you should start focusing on utilizing tools to grow sales. You need to be able to track and analyze your progress with confidence. This requires sales leaders who can find out valuable information, such as “cost per lead” and market penetration numbers.
Don’t be afraid to partner up with more experienced contract strategists and agencies that work on securing contract bids. The biggest players in their respective industries never work alone, and neither should you.
If you need more information on how you can continue to prosper and overcome adversity in a difficult government environment, contact us now. We have experts ready to answer any questions you have regarding tenders, procurement, RFP, RFQ, RFI, and other government business opportunities.