Government contracts offer an important potential revenue stream, if you can land the deal. But capture management with government agencies can't be compared to run-of-the-mill B2B sales, wherein you locate the right person and make a great pitch. There is a long and winding road between identifying an opportunity and securing a government contract.
Take the Long Road to Closing the Deal
Why is the capture management process so time-consuming and complicated? Government agencies need transparency in their award process, and there are no handshake deals or shepherds to get you in through the backdoor.
Even a well-managed capture can take more than two years and require an enormous amount of time spent in meetings. And that's just the first stage of the research! Team meetings and contracting shop meetings can help you react to the agency's needs and shape the deal for the best possible chance of winning.
What You Can Expect
You might write several White Papers detailing a possible solution or explaining technical details. Responding to Requests for Information (RFIs) take time, as does a well-thought-out response to draft RFPs. Every document that goes out the door should be as complete as possible, which means fully drafted, reviewed and polished, before it is sent out.
At the same time you are working on these documents, you'll need to start identifying the competition. Who else is likely to bid on the same contract? Each step takes days, weeks or months to complete.
Simplify for Success
As complex as the Government Contracting capture management process can be, there are ways to simplify the steps you need to take. The key is effective prioritization. You need to understand which steps are most critical to your ability to win the contract. This eBook will help you do exactly that.
- Learn what a well-done capture looks like, from start to finish.
- Explore the different steps in the process, and discover when and how to start each one.
- Get tips on how to make your capture management process measurable and repeatable.
- Learn how to build a good capture team and what support they need for success.
The more you know before you start your capture management strategy, the less time you'll spend spinning your wheels.
Getting traction in government contracts takes a specific skill set and commitment to the process, but you can succeed in your goals. The potential revenue from government contracts can help your business withstand the ups and downs of a volatile marketplace.
Yes, there is significant effort when investing in capture management, but it is always worthwhile. Start building your capture management process with this helpful guide, and learn how to land long-term government contracts.