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Ask@GovConGuy, Chief Visionary's Blog, FEATURED ARTICLES, GovConChannel

How ‘What You Don’t Know’ Can Cost You (Literally).

 

What You Dont Know Can Cost You ConceptWhile nearly everyone in and around the business of doing business with federal agencies has heard or made comments about the lingo used, the need for context is apparently underrated. Moving forward without understanding the meaning and use of references to procurement classification systems and the various contracts and agreements used by civilian, defense and intelligence agencies, can be expensive and demoralizing. Here’s what we mean:

  1. Company pushes to identify customers, partners and opportunities with little or no understanding of classifications and contract types.
  2. The resulting ‘strategy’ is akin to the game played at many children’s birthday parties.
  3. The company spends more time and more money trying to find viable opportunities than do many of their competitors.
  4. Because opportunities are being ‘chased,’ responses to agency solicitations and partner/prime data calls tend to be reactive and not a good representation of the company.
  5. In trying to recoup the increased ‘cost of doing business,’ prices are increased to maintain profit and opportunities are lost as offers and quotes fall out of the competitive range.
  6. Unfortunately for many, this vicious cycle continues for quite some time.

Having information and knowing how to use it is essential to getting your foot in the door and staying in the room. Invest the time and resources to understand fundamental references and terms as doing so will have a direct impact on your ability to find, qualify and win federal contracts and subcontracts.

Visit our events calendar for upcoming CI Essentials ‘What You Don’t Know Can Hurt You!‘ seminars and webinars.

CI Essentials

About Editor-in-Chief Visionary

Guy Timberlake is the Editor-in-Chief Visionary of GovConChannel and oversees the creation and curation of relevant and timely 'News And Information That Matters To Small Government Contractors.'

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