Small Businesses carry a fairly large burden in attempting to overcome their overhead in the Federal Contracting world. Taking a systems based approach will help you tackle this burden with the most efficiency possible.
There will be 4 major business systems each GovCon business will need in place before they begin submitting proposals for contracting work.
– An opportunity and proposal tracking software to help track your proposal process. (Start and end date, how to bid, how big the proposal will be, etc.)
– USAspending.gov
– fedbizops.gov
– A Customer Relationship Management (CRM) tool to help track your contacts, follow up with them, and be the most effective networker you can be.
– Spreadsheet is a good starting point, but ensure you have every metric planned out in advance.
– A Resume Database to track the capabilities of your current employees and of those you would hire on in order to fulfill the proposal.
– An accounting system
– Quickbooks
– DCAA.mil = DCAA compliance guide
With all of these systems, know that you will want to start small and have an idea of where you will grow into. Save as much investment money as you possibly can as you’re starting out, and allow your tools to grow with your company.
Jenny rounds out this episode by covering in detail the different systems and requirements that you will need to address in the accounting of your business.
Be sure to check out the I4GOVCON convention coming in March!
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| I4GovCon 7 – Creating a Disruption in the GovCon Marketplace… I4GovCon 6 – Virtual Reality is Coming: Embrace it Now… I4GovCon 5 – Growth Strategies on LinkedIn… I4GovCon 4 – Solvability (What we Do and What it Affects)… I4GovCon 3 – How to Create a Federal Contracting Business… I4GovCon 2 – What to Expect When Creating a Government Contracting… I4GovCon 1 – Meet the I4GovCon Team Previous Episodes of i4GovCon |
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