How To Lose In Government Contracting
Oct 04, 2024If you're entering government contracting, there are two main paths: becoming a prime contractor or starting as a consultant.
The middleman approach, where you submit numerous proposals in hopes of winning, often doesn't work well unless you already have contracts and strong past performance. Writing proposals is time-consuming, and you might need to submit 20–50 just to win one. Even if successful, as a prime contractor, you'll manage the contract, pay subcontractors, and wait months for payment.
On the other hand, consulting can be more efficient. You can start advising companies on how to win government contracts and get paid faster. Instead of managing projects, you help other businesses navigate the process. If you're new to contracting, starting as a consultant can provide faster income and valuable experience.
Lastly, if you're in industries like construction, certifications like SDVOSB (Service-Disabled Veteran-Owned Small Business) can open doors, especially with the VA, which awards a large percentage of contracts to SDVOSBs. If you're considering this route, register your business on SAM.gov and get certified.
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