Make $11,780 a Day Government Contracting in 2024
Jul 19, 2024Curious about how much you can make selling to the US government? Let's dive into this crucial question. The first step is understanding if the government buys what you sell, how much they buy, and what your competitors earn.
Visit usaspending.gov, a free government website that tracks spending. This site provides detailed contract information and broad spending data. This is a vital resource, even for high-end clients.
Getting Started
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Search Award Data:
- Choose recent fiscal years, starting from 2021, to get up-to-date data.
- Select a category of contracts. Begin with Product or Service Codes for specificity.
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Analyze Spending:
- Look at spending trends over the selected years.
- Check how much is allocated to small businesses. The government aims to award about 23% of contracts to small businesses.
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Refine Your Search:
- Explore further by selecting special designations like 8A (disadvantaged business certification).
- Use detailed contract information to see what competitors are earning and identify potential earnings for your business.
Example
For support management services, small businesses saw around $1.6 billion in contracts annually. For more specific services like auditing support, small businesses received between $12-85 million per year.
Practical Insights
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Contract Details:
- Look at specific contracts for detailed information on earnings.
- Check business types and certifications to see how similar companies are performing.
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Competitive Analysis:
- Analyze competitors’ contracts to gauge potential earnings.
- Use data to plan and strategize your government contracting efforts.
Conclusion
Use usaspending.gov to explore government spending and identify lucrative opportunities. Whether you're new or looking to optimize, this resource offers invaluable insights into what the government buys and how much they spend.
For more in-depth training and resources, visit dodccontract.com. We offer online training and road mapping services to help you succeed in government contracting. Follow us for weekly videos that provide practical advice and the latest updates.
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