2009 has witnessed two giant forces that have combined to create a rogue wave of interest in government contracting -- among companies of all sizes! This time last year, the recession began to dry up many companies' traditional sources of business. Then, when February's federal stimulus package passed, thousands of company owners thought, "Hey, with all that spending, there's got to be something I can win."
Maybe. But every year, otherwise successful managers spend millions in scarce resources trying to win government contracts without results. And now the stakes are even higher: stimulus notwithstanding, President Obama has just asked government buyers to trim a total of 7 percent from their budgets by the end of 2011.
Conclusion: Don't get lured, get smart. In government contracting, success favors the savvy.
It's easy to avoid the most common traps:
- The Saggy Pants Strategy
- The Shoestring Budget
- The Shotgun Tactics
Next week's three tips tell you the danger signs, and how to avoid those problems!