As a new launched business as a Federal Contractor (I’m assuming you’ve set up your company and and are registered in SAM and have a DUNS number; see my previous blog: http://wp.me/p4xkC1-Q), your primary tasks as a company are three fold: 1) generate revenue, 2) earn a profit, and 3) develop past performance. These task are derived from winning work. As I have written in the past, there are two ways to work as a federal contractor — as a Prime contractor or a subcontractor.
A excellent path to finding a prime is to join the Service Disabled Veteran Owned Business Council (https://sdvosb-council.org/) The council provides an avenue to network with Prime contractors for potential teaming opportunities. It also host networking events with larger primes looking to team with small businesses. Remember that many federal contracts have set-aside contracting goals. This is a huge benefit to 8a, SDVOSB, SDB, WOSB, and other set-aside categories.
Make sure you have developed your core capabilities statement; the capabilities statement is your written “elevator speech.” Potential prime contractors and US Government entities review core capability statements when looking for small businesses.
Below is an example of of core capability statement used by Whetstone Security Group, Inc. (www.whetstonesecurity.com)
Prime contractors are looking for set-aside partners they can depend upon. Make sure as you market your company you always deliver on promises and conduct your business with integrity. At the end of the day, everything whether in business or personal life is about relationships. Make sure that you and your business’ reputation is stellar and become know for doing what you say.
Once you have joined a team you will most likely be provided a Non-disclosure agreement (NDA) and teaming agreement (TA) to sign. See my previous blog and TA’s, NDA’s, and SubK’s. (http://wp.me/p4xkC1-4m). Review the TA closely to ensure your company is signing up for a mutually beneficial agreement. It might be a good idea to engage a Contract Specialist to help you navigate the NDA, TA, and Subcontract process. The primary take away is to ask for guaranteed work share. Work share is usually provide in percentages, such as have 20 percent work share. This means that your company will have 20 percent of the available work on an awarded contract.
Be transparent, operate with integrity, and demonstrate how your company will add value as a prime contractor’s teammate. You have to put yourself out there and engage with other people, associations, and prime contractors to be known. Remember, hundreds of people before you have done the same thing — you can do this!
As always, take action each and everyday to drive your business forward and grow as an individual.
With Love and Respect,