There is nothing so terrible as activity without insight. ~Johann Wolfgang von Goethe
I have 2 kids, and if you have any of your own you too have probably heard these phrases in your home on numerous occasions: “I didn’t know,” and “It was an accident”. (Cue the involuntary eye roll now) If I had a dollar for every time my kids used that as a reason for falling short on one request or another, I could probably retire early. Fact is though, I hear it from business owners as often as I do my kids. Personal accountability when you truly don’t know something related to business practices is still something many leaders have trouble owning. With all of the resource accessibility, i.e. business coaches, proposal writers/managers, pricing strategists, etc., you really don’t need to know everything because you can always find someone who does know more than you do. So, when I hear a business owner say they didn’t get a contract award and they don’t know why, I always want to know what was lacking that they were too afraid to ask the agency to clarify for them, or the reason is they didn’t seek outsourced help.
I’ve said many times that being the best at what you do doesn’t automatically translate into success into the federal marketplace. You have to know your market and in turn, know who to market your services/goods to. But you may need assistance from an expert to navigate both of those avenues. Otherwise, you may waste a lot of time and money on pursuits not suited well for what you offer or going after agencies and primes who don’t need you. Either way, that is on you. “I didn’t know” or “It was an accident” won’t cut it here either.
Knowing what you need to know is up to you
I recently attended an event where several contracting officers presented to a group of govcon business leaders. One of the agency representatives was very clear that what you don’t know, is not their problem. It is on you to find the support you need to navigate the industry and the opportunities. While it may sound harsh, it’s true. Market research is not that hard. And with the right guidance, you can and will be well on your way to capitalizing on the opportunities best suited for you!
It’s public record
There are many resources available to you that are not only free, but will give you access to the public record of what agencies have purchased in the last year. Information like this will assist in targeting the right buyers. This is the part that some business owners make far too difficult for themselves. Websites like, FPDS.gov are great for narrowing your focus in your market research. Don’t over complicate your process. And you don’t always need database access that requires you to pay for it. Sometimes the best way to learn is the old fashion way: navigating it on your own.
First impressions are important
When you get the chance to pitch, make it count. Too often businesses will lead with a capabilities statement, certification designations or minority status, and sometimes just act arrogantly. None of the above will promote a positive first impression. If you want to make an impact that will lead to an opportunity you need to: know about the agency or prime, know how your services fit into their mission objectives, know how you compare to your competitors they may already work with, answer their questions in keeping with WIIFT (what’s it it for them) and deliver all of this with confidence and respect. After all of this is disclosed, then let them know your classifications that may be of interest, for instance, SDVOSB or 8(a), etc.
A little bit of market research goes a long way. And so does knowing how to effectively communicate what you learn. As always, respect and kindness is the cherry on top!
If you are looking for an introduction to good market research and intelligence, you should attend our event on 5/11 at our offices in Tysons Corner. Click the link to sign up!
https://www.eventbrite.com/e/rfi-town-hall-meeting-tickets-320971603707