When I was learning about government contracting years ago, folks would always say, “Do your research,” yet never provide any context on what that meant.
I hate when people use the phrase “do your research” but don’t offer any real substance, especially when giving advice to folks who are new to this industry.
Since this always bothered me, I want to give some context on what “do your research” actually means in the world of government contracting. Of course, this is not an all inclusive list. Research can look very different depending on where you are in your business journey. Here are just a few things that may help folks out:
If you’re just interested in getting into GovCon but haven’t started a business yet:
Research the top industries in demand across the federal government to confirm there’s a need for the line of work you want to pursue. If you already have experience in a specific industry, start learning the language the government uses to buy those services. This will help a lot when you’re navigating SAM.gov and looking for contract opportunities. You could also be analyzing federal spending as well to see if it is even worth you getting into GovCon based on your company goals. (i.e., if you plan to sell roll-on oil perfumes, the government may not have a history of budgeting for that.)
If you’re an established private-sector business that’s new to GovCon:
Research the demand for your services across federal agencies. How much is the government spending on what you offer? Who’s spending the most money? How much are they spending in the states where you operate? What companies are already winning contracts in your industry?
If you’ve already won a few contracts and want to win more:
Your research should focus on building a pipeline of opportunities that haven’t hit the market yet and building relationships. Who are your target agencies? What specific offices should you be reaching out to? Who in those offices should you try to connect with? What contracts are expiring soon? Etc.
Hope this is valuable to someone.
