I'm curious, why would you want to do work with the government? I'm talking about our federal government. What on earth would make you want to do work with them? I'm talking about being a contractor. Do work for them and then they pay you. Not as an employee, but as a contractor with your own business. A thought for you to ponder today.
I want to share with you five reasons why you should consider becoming a contractor with the federal government if you have not already. If you have, let's solidify this for you and make sure it's right for you.
Want to watch a video version of this post? I’ve got you covered!
Five reasons why you might want to consider diversifying your business into the federal marketplace.
Reason 01 - It's where the money is at.
I have the actual number. I did the research for you so that you don't have to. The federal government is the biggest spender in the world. They're also the biggest spender with small businesses just like you. In 2018, the government spent $4.11 trillion dollars. That's a lot of money. (USAspending.gov)
That's a lot of money. You couldn't even do all the work by yourself if you wanted to. It's enough to go around.
Reason 02 - Opportunities for small businesses and minority-owned businesses.
I'm going to break it down by percentages and then you can go back and do the calculations to see how much they're actually giving to each classification that I'm getting ready to share with you.
Reason 03 - They are begging you to bid their projects.
The people that are putting out the contracts, the ones that award the contracts are practically begging you to bid on their projects. They do not have enough participation from small businesses and minority-owned businesses. What they're saying, in reality, is, "You're not showing up. You're not getting your piece of that $4.11 trillion dollars."
The government has set aside goals. You may not know what that means in its entirety but just know that they have so much money being left on the table by small and minority-owned businesses. They set the budget for the year and what they’re going to set aside for each classification. I'm getting ready to give you those classifications. You see where you fit in.
Disadvantaged small business - 5%
Service-disabled veterans - 3%
Woman-owned small business - 5%
Federal HUBZone - 3%
This does not include your city, state, and county governments. I'm talking about at the federal level, these are the classifications and the percentages that they are setting aside for small businesses just like you.
The percentages I’m sharing with you came from the SBA's Scorecard. Their procurement scorecard for small businesses. (SBA Scorecard, https://www.sba.gov/document/support--agency-contracting-goals)
Reason 04 - They buy everything.
The government buys just about everything. I get people coming to me all the time and they're asking...
Does the government buy what I sell?
Would I be a good candidate to be a contractor with the government?
The government buys pretty much everything. It amazes me that a lot of times before people will take the leap, they want to ask me that question as to would the government be a good customer for them.
The government, they're not a manufacturer. They don't produce anything. Except for soldiers. Outside of that, they buy everything. Look around where you're at right now. Whatever you see, they buy it.
If you're commuting to work every day or taking your kids to school or even when you're just driving around leisurely, look ... what do you see? They buy it. They buy cars. They buy real estate. They have new things built, construction, paper, pencils, toilet paper, medical supplies if you're at the hospital, they buy it all. So just look around you to get an idea of what they're buying if it's not clicking for you.
I did a little research on this too and I wanted to come up with a list of some things and by gosh, it's not a complete list because, I mean ... the list is endless as to what they buy. But I do want to give you some examples. This is based on people that have been reaching out to me here recently saying, Does the government buy what I sell?
Home healthcare services
Medical billing and coding
Professional training and development
Research and development
And so much more
You just have to do the research and see if the government buy what you sell. Nine times out of ten, you're going to find out that they do.
Reason 01 - It's where the money's at.
Reason 02 - They're the biggest spender in the world.
Reason 03 - They're actually looking for you, right? You're not showing up as a whole, as small businesses to get your piece of the trillion-dollar government marketplace pie.
Reason 04 - They buy just about everything.
So, why not? Why not look into government contracting? It costs you nothing to explore it and see if it's a good opportunity for you. It can be very, very lucrative.
As I shared these reasons with you, how do you feel about…
Following The Money to government contracting?
Here's a truth bomb for you. Being a government contractor, it takes a lot of work and a lot of your time. But let me also tell you, it can be very, very rewarding. If you're trying to transition into that first class lifestyle, you want to be able to spend more time with your family, do the things that you love, have more freedom and flexibility in your business, it can allow for that.
Now, of course, you have to take action and do something to make all of that happen. The beginning step is just to get started. To be qualified and ready when the opportunity presents itself. Getting ready and registered is not something you can do in one day. Or even one week. You can't wait until the last minute to make sure you're ready. It's worth the investment. It's very rewarding when it's done right.
If you're ready to increase your capacity, scale and grow your business and you need help Following The Money to Government Contracting, I'm not going to leave you hanging. I want you to check out a free resource that I have. It's a free resource so you don't have to pull out your credit card or your wallet or anything like that or hit that PayPal button, it is absolutely free. That I want to share with you to help you get started with one of the key elements that you're going to need when you become a government contractor. So why not get started on the right foot today, for free?
I'm giving you strategies for creating contracting opportunities that leverage your time and profit. It is absolutely free. Go grab it and get started. I'm walking you through it step by step. You can implement it and make some things happen and you're going to need these things in place when you become a government contractor. Here’s the free resource: http://feliciastreeter.com/cetoolbox.
Make sure you come back for part two of this five-part series so that you get the whole process on becoming a government contractor.
I know it's a lot. We've covered a lot. There's a lot for you to do but guess what, this is just the beginning but the end result is always fruitful.