In the coming years, there will be lots of opportunities for businesses that depend on government contracts. But how do you find the ones you can successfully capture?
Budget is a big barrier when looking at your capture management process. You need to invest a lot up front in the hopes of scoring contracts at the end. With publicly-available sources offering a lot of the information you need to strategize for opportunities, it can take a lot of man hours to aggregate the information.
For most businesses, that's where paid services come in.
The most important thing you can do is take a long look in the mirror and ask the question: "Am I ready for fiscal year 2017?" Maybe not - status quo may not be enough to be ready. You know a surge in government spending is on the horizon, but you may not have everything in place within your organization to ride the wave.
Political change leads to economic change. Every election cycle sees new initiatives move to the forefront of the budget, as well as process changes that can lead to big opportunities. By being proactive about your capture management process and creating a repeatable ISO-like sales process, you can get your team ready for the changing landscape.
The government budget is limited to the amount of taxes collected, plus the amount of debt our country creates, which means there are only so many dollars to go around. With all of the rhetoric surrounding military build-up, it is likely the new budget will have significant changes to spending initiatives. To keep your business bringing in those important and lucrative government contracts, you need to look at likely areas for a budget boost.
Every year brings with it new budgets and new government initiatives. This year, however, brings the added uncertainty of a new president. For the first time in more than a decade, you will see a Republican-led Congress and a Republican president setting budgetary and fiscal policy. The need to compromise with the opposition means watered-down legislative bills just went out the window.
Businesses that depend on government contracts should have been happy with the all the discussions about military build-up spending in the 2016 presidential election. Now that the United States knows who will be in office, it's time to take a deeper dive into what kind of changes you'll see in the government sales landscape.
As mentioned before, President-Elect Donald Trump said he would increase military spending during his campaign in a number of ways. But while the details have yet to emerge, and some plans are certain to evolve or change on Trump's end, it appears a lot of opportunities will be there for government vendors and contractors.
If government contracts are an important source of income for your company, reviewing your capture management process is an important part of keeping it stable. Capture management is an ongoing process that starts years before you finally submit a proposal.
Capturing and winning government contracts is a way to ensure a stable source of income for years to come. During lean economic times, government contracts can help keep the doors open, and during boom times, these contracts can fund expansion.
In our industry, selling to government clients is the key to growing your business and achieving success. If you are struggling to succeed in government sales, it's important to find out why and address the problem that is holding you back. There are three main reasons for a government sales process not working, but they all boil down to the same problem: a serious lack of visibility. If you don't know what is going on with your sales pipeline, your sales team and your opportunities, your government sales process can't work effectively.