If you're new to the federal government marketplace, winning a prime contract with a federal agency can be hard.
In today's LinkedIn LIVE session, Neil McDonnell explains how your small business can earn $10 million simply by subcontracting on existing federal contracts. Subcontracting is far easier than pursuing a prime and delivers revenue far quicker.
3 PATHS to Contracting Revenue
If your business is new to federal contracting, you will be most successful by subcontracting with other small businesses first. Subcontracting allows you to grow your revenue while learning the important business skills
If you have at least 3 years of experience and some federal contracting experience, then you might prime directly by focusing on a single agency and a single core competency.
If you are earning $5M+ revenue and have federal contracting experience, you should try to get on the contracting vehiclesof large primes and on their existing contracts.
About Large prime contractors
Frequently required to partner with small businesses when bidding on or performing contracts for federal, state, or local agencies
Create thousands of small business subcontracting opportunities every year.
For most small businesses, subcontracting is a great way to begin to grow their government contracting experience.
As you gain valuable experience as a sub to large contractors, you avoid the administrative overhead costs and resources necessary to manage execution of large contracts.
Subcontracting to a prime can also be a springboard to future direct contract awards within an industry.
HOW DO YOU GET STARTED AS A SUBCONTRACTOR?
The first step on the path to becoming a successful subcontractor is discovering everything you possibly can about your target partner before you pick the phone.
In order to understand the footprint of any organization, divisions, priorities and past contracts before approaching prospective prime contractors, you have to take the time for quality research.
How to combine business development with business strategy
How to grow through subcontracting and to directly influence acquisition
Neil McDonnell spent 20 years as a federal government small business owner selling to civilian and defense agencies.
He shares his government contracting expertise in these blogs, focusing primarily on teaching you the process.