The Success Formula to Win Government Contracts
I am an avid fisherman and enjoy my time on the water in peace and quiet, but more importantly the challenge of a good catch. To have a successful fishing adventure, I know that it takes more than just showing up to the river or lake to catch a fish. As such, I visualize my fishing trip, prepare my gears, get my bait ready, pack my snacks, and make a plan for the specific ideal location where I believe the fish will be.
Winning government contracts can be like a great fishing expedition. It takes planning and preparation. As I promised, I am introducing to you my formula for success in the government industry so you too can go and catch some contracts.
The Success Formula
Here is my first secret to help you navigate the opportunities in the government market. This secret is a little magic formula to help you be successful:
P+P+P+P = P
What does this formula mean?
Each P represents a phase of the government contracting process.
The first P stands for Preparation. During this phase you will assess your company, create a strategy, educate yourself, register as a vendor and apply for certifications.
The second P stands for Promotion. In this phase you will brand your business, market your company, and learn how to build relationships.
The third P stands for Proposal. The Proposal Phase involves learning how to seek opportunities and writing proposals.
The fourth P stands for Performance. This phase marks the time when you will deliver your product, execute the project, comply with legal obligations, get paid, and close out the project.
The final P stands for Profit. This last P is a by-product of you working through the first four P’s. Your goal is not only to win a contract, but to be a sustainable profitable organization in the government market.
Planting Success Into Your Memory
If you’re ready, I have a first task for you. I want you to memorize the 5 P’s.
P+P+P+P = P
Preparation + Promotion + Proposal + Performance = Profit
I know how much you hate memorizing things… I hate it too. However, I promise that this formula will be worth memorizing because it is the foundation to help you potentially win millions in government contracts. It’s like remembering all of my secret fishing spots, I wouldn’t have as much success or fun fishing if I didn’t.
This is one of many business owners who have found their success with this formula.
“The success formula and principles I learned helped me to win my first $60,000 government contract. I couldn’t have done it this quickly without the knowledge and training…” – Crystal Spellman: CEO Spellman Consulting Group
Stay tuned and I will dive deeper into each part of the formula and provide you with more secrets that can help you master your government contracting goals.
Here is a short video of me sharing how winning government contracts is like catching a prized fish on the river: https://youtu.be/t1wCmyJXkvs
ABOUT THE AUTHOR: Abraham Xiong
Mr. Xiong is a small business advocate, social entrepreneur, executive trainer, blockchain ambassador, technology enthusiast, business coach, and community leader. He is the Founder of GovGenie.com, which is a marketing automation platform to assist government contractors in scaling their companies in the B2G marketplace. GovGenie is offering readers of this article a free trial access: www.GovGenie.com