In order to competitively bid on and win open solicitations, contractors must have access to instant notifications and information on new award opportunities. Regardless of the way a company currently employs its sourcing practices, it is impossible for one to uncover EVERY contract possibility. Most of the time, you usually end up missing something.
Many times, when starting the process of procurement, one can find themselves stumbling across some of the steps required to obtain a government contract. For starters, one has to know when looking to make an offer, how should you respond to a Request for Quote (RFQ), or a Request for Proposal (RFP), and what the differences between the two are?
When trying to aggressively pursue or bid on government contracts, the importance of being prepared can mean the difference between receiving an offer and being sent back home to do more homework. The preciseness of detail needed to fill out a Request for Proposal (RFP) demands that you plan and research your approach to solve the issue that the RFP presents.
Each year, the federal government awards roughly 23 percent of its contracts to small business. With billions of dollars going to these small businesses every year, this type of revenue stream can be quite lucrative, especially for those that land their first contract. However, landing a government contract can be somewhat difficult, especially if it’s your first time venturing down this path.
Here are five tips to help you land that government contract for your business.