Why You Need A Business Plan for Government Contracting
Jul 16, 2024Imagine you have the chance to win a $20 million government contract, but it's not just about speed; it's about strategy. Here's a story that mirrors the three common approaches companies take when pursuing government contracts.
A father challenges his three sons to find a $20 million inheritance he's buried. Each son represents a different approach to government contracting.
The youngest son, eager but unprepared, rushes off without any directions. He ends up lost and stranded, symbolizing companies that dive into contracting without a plan, hoping something will stick.
The middle son asks for the location and gets a general area: a cornfield in Nebraska. He arrives first but spends a lot of time and money digging in the wrong spots. This represents firms that start proposals without fully understanding the requirements and details.
The oldest son, patient and wise, gathers all necessary information, including exact coordinates and the depth of the buried inheritance. He even arranges for the right equipment to dig it up. He wins the inheritance by being well-prepared and strategic, unlike his brothers.
The moral? Government contracting requires more than enthusiasm. It demands thorough research and a strategic approach. You need to know who buys what you sell, how they buy it, and the specific requirements. This preparation increases your chances of success, much like the oldest son in our story.
For more strategies on mastering government contracts, go to our YouTube channel here. Visit govclose.com to learn more about our road mapping services and how we can help you win those contracts.
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