How To Win A Government Contract In Your Next 90 days

Can you win a government contract in 90 days? Absolutely!?

When it comes to federal government contracting, as well as state-level government contracting, it boils down to a need. They need something, perhaps a person to do the task. As long as you can provide the product or service and meet their criteria, winning a contract in 90 days is possible.?

Journeying to Growth?

In fact, Brandon Hendricks, whom I interviewed on the channel, won a million-dollar contract the first time he bid. Someone even reached out on Instagram to say, “Hey, I followed your videos, and I won my first contract.”?

These contracts range from thousands to millions of dollars. When I started out 15 years ago, I was a graduate research fellow at Patrick Space Force Base - unsure of my future. I was guided by a professor in Tennessee, getting paid, and thought this was great. I'd figure out everything eventually. Then, I had the opportunity to subcontract and realized I was making about six figures - equivalent to what I may have made as an employee.

However, within a couple of months, I wasn't satisfied with just getting by. I wanted to grow. So, within about five months, I transitioned from having a sole proprietorship to creating KPC and forming an S corporation. I wanted something bigger. I aimed to have hundreds of employees and a multitude of contracts.?

I didn't want to depend on a single contract because I feared what would happen if it went away. I sought ongoing revenue, learning how to master the market for pharmaceutical drugs for medical contracts, which typically require specific certifications.

Making Strategic Moves?

To win a contract, whether it's in 90 days or longer, you must offer what the government wants in the way they want it. This may mean identifying government contractors who sell pharmaceuticals to learn from them. Then, possibly helping them in some way, which allows you to get paid, learn, and eventually start your own business. This could be a strategic move for you.

Now, sometimes it may not necessarily be the kind of contract you want, but there are tons of contracts you can win. For example, if the federal government wants 20 Sony cameras and you can provide them - meeting their criteria, why couldn't you win? Of course, this may not make you rich, but it's a start.

The Importance of Multi-Year Contracts

What you really want are multi-year contracts. Many government contracts are based on a five-year term. For instance, a gentleman I mentor has a contract for waste removal.?

He subcontracts the work to a well-known waste management company, ensuring a steady income over the contract term. On the product side, it's a bit different. You may need to find various agencies in need of your products - similarly to running an Amazon store with a diverse product range.

Understanding the Bidding Process

Bidding involves submitting a detailed proposal in response to a government solicitation. You must determine your pricing strategy based on several factors, including the cost, potential profit, and what it takes to win. A bonus strategy is to research past contracts on government websites like SAM.gov and FPDS.gov for pricing.?

While considering a bid, assess whether you can and want to do the work required. This involves understanding the evaluation criteria, performance work statement, and whether you can deliver by the deadline. Deciding to bid also means being honest with yourself about what you want and what's viable for your business.

Financing Your Contract?

When it comes to government contracts, especially for products, a common question arises like “How do you fund upfront costs?” Selling products like eggs, cheese, or in more substantial cases, 50,000 pounds of butter, requires upfront capital. Where does this money come from? This is an important aspect of handling large, product-based government contracts.

Recently, a gentleman reached out to me, sharing his predicament. As a newcomer, he won a product-based contract but lacked the funding to fulfill it. My advice to him was “You've got to figure it out.” This scenario isn't uncommon. I recall a time when we had a contract with the National Guard requiring printing services from Office Depot that amounted to $5,000 - a sum I didn't have at the moment.?

The situation was so dire that I found myself crying on the phone while my team member was at Office Depot. Fortunately, Office Depot offered a store credit line, which we used to get the necessary credit. This experience is an example of the harsh reality that solutions must be sought actively, whether through credit cards, loans from friends and family, lines of credit, or vendor financing.

It also highlights the importance of financial planning in government contracting. If you stumble upon an opportunity to supply a large quantity of a product - like 50,000 pounds of butter, assess your financial capacity to fulfill the order. If you lack the immediate funds, explore all available options to secure the necessary capital. Returning a contract due to financial incapacity is a big mistake that should be avoided at all costs.

Now is an opportune time to bid on government contracts. The government is prepared to do some big spending especially with the fiscal year being an election year. The message is clear: Bid, bid, bid. Take advantage of this period to secure contracts and expand your business.

If you’re ready to get in the habit of taking action towards your government contracting goals, then subscribe to my official YouTube channel, where I drop weekly tips and advice. Click here now to subscribe.?

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I’m the author of the newly released book “The GovCon Winners Way: How To Win Government Contracts Faster Than Trying to Do It Alone!” At 28, I was awarded my first 5-figure federal government contract. I own and operate multiple government contracting businesses and have over $50 million in federal government contract awards. Today, I’ve helped my students win over $3M in Federal Government Contracts in less than 6 months, and I’ll help you, too!?

-#EverythingIsPossible