When it comes to public contract bidding, small businesses find it stressful and outright intimidating. The frustration results from having to compete with large corporations with years of experience and ample resources. But it is not an impossible task especially if you, as a small business owner, know the right things to do. As a small business, you need these government contracts as one is capable of singlehandedly setting your company on the right track. This is because they offer a range of arrangements that can suit any business. Want to get one? Check out these tips.
Sell what you are great at
Government is interested in high-quality work that can efficiently fulfil a particular need they have. This is where small businesses come in. Unfortunately, they feel the government wouldn’t want to do business with them. However, the government would, especially if you have an efficient and agile solution to a problem. Therefore, focus on selling them your genius.
Get expert help
You are only as good as your bid. This is why it seems that with all the bureaucracy of large corporations, the government prefers doing business with them. Some professionals assist businesses in preparing their bids. These experts have a good understanding of your client (government), and that makes all the difference. Their input can shed more light on how you can play on your strength and increase the chances of success.
Diversify your clients
Most small businesses do not succeed in public contracts because of cutbacks in the government agencies they focus on. Let your revenue source cover federal, state and local governments. That way you get to insulate yourself from any change of policy in one cadre. These changes don’t affect large business as such, but they might take time for you to recover from.
Prepare to fail, try again
Preparation is key. If you don’t, then you are likely going to fail. But even as you prepare, be ready for failure and always be prepared to get back again. You might have to put in a lot of bids for prime contracts and subcontract before you get one. That is how to win public contracts as a small business. Remember to always check in with your local authority to know of any renewal of contracts.
You’d be surprised by the hundreds of contracts companies have lost due to late proposals and seemingly insignificant errors. There is a range of things that can eliminate you from consideration. Go over your quotes time after time and submit long before deadlines.
Be thorough when registering your business
The government wants businesses they can trust, and part of getting government agencies to become familiar with you is to register your small business properly. That way, government agencies can easily search you out as a potential client and begin considering you for a contract.
The key is to pay attention to detail and be patient generally. Government contracts take time to procure. You may have to wait an average of 8 months for one to come through. Do your best and never be intimidated by your competition no matter how big they are.