Would you like to limit the competition? Not have to compete with large corporations on government contracts? By the end of this video, you’re going to have gold in your hand. I’m sharing what you need, why you need it, and oh yeah, the benefits.
If you’re paralyzed at your desk and you can’t figure out how to increase your vantage point in the government contracting market and take advantage of the wealth of opportunities that have been made available to small businesses just like yours, this is for you.
I’m sharing three pieces of paper that are your ticket or can be your ticket to competing on landing contracts with the government. This has been proven for many years with many small businesses, minority-owned businesses, myself, my clients, and now it’s your turn.
POINT NUMBER ONE
Let’s dive into the first thing I want to share with you. The SBA (Small Business Administration) sets aside contracts that must, not should, there’s a difference, that must be awarded to small businesses. Did you hear me?
In essence, the government has opportunities. They set a budget and goals for small business contracting. They set new goals and budgets every year. And they set it aside for businesses just like you.
POINT NUMBER TWO
The government also limits the competition to certain contracts to small businesses. That way you don’t have to compete with larger companies. You’re competing with companies that are comparable to your business. How cool is that?
The government does this through its contracting program in order to help small businesses actually win some of the contracts. Because the reality is if we had to compete with the big boys all the time they could come in at a lower price. The big companies have larger volumes of projects so they can still cover their spread and their cash flow.
This is another way to be able to win contracts with the government and a reason why the government does this for us as small business owners. Here’s the other thing. The federal government also spends over 5 billion dollars a year on goods and services with small businesses in the private sector annually.
I said 5 billion, $5 billion annually on products and services. Why not get your piece of the pie? You don’t need it all. You can’t even perform at that level. So think about how you can carve out your piece of the pie.
The government also has contracts between $10,000 and $250,000 that’s automatically set aside for small businesses when there are two or more companies that can provide the product or service at a fair and reasonable price.
They automatically set aside projects in the price range of $10,000 all the way to $250,000 when they have two or more companies that can actually compete, meaning they have the capabilities to perform and they’re coming in at a reasonable price. How cool is that?
That’s something to definitely think about as we move into that next step on your Road To Becoming A Government Contractor.
POINT NUMBER THREE
The third thing I want to share with you is some common federal certifications for those of you that may not know the difference between them.
A few of the common federal certifications are:
- Woman-owned small business certifications, a lot of times you’ll see it as WOSB
- Economically disadvantaged woman-owned business
- Service-disabled veteran-owned small business, SDVOB
- Veteran owned small business, which is VOSB
- Small business
- Total small business
- Federal Hubzone
Check them out and see which ones you qualify for and if you do, then apply.
There are state certifications as well. I’m going to share a few of the state certifications with you as well. Now keep in mind I’m going to share the common ones within most states. I’m not in every state, so if your state has something different, definitely check it out and see if it’s something that would be a benefit to you.
They also have certifications for the airports too, like for concession stands and I didn’t even list that one here because most people that I work with are not doing concession stands and vending machines.
Here are some of your common state certifications:
- Disadvantaged business enterprise certification, DBE
- Minority business enterprise, MBE
- Minority women business enterprise, MWBE
I just shared with you the different certifications for the federal and state level. If you’re going to play in both areas, then you’re going to want to look at certifications for both.
Think about who’s your customer in the government market and which certifications do they accept and play within. That’s very important to know.
Here’s a little sugar for a dime. I always say just apply for the certifications before you need them. Most of them are either no cost or low cost. If you qualify, go ahead and get them done. It’s going to take you some time. But once you do one, it’s kind of rinse and repeat. It’s the same information for the most part. Apply for all that you qualify for that way you’ll have them when you need them.
Did this topic pique your interest? I hope it did. If you want to grow your business and take advantage of some of those large contracts, it should have.
Apply for your certifications as soon as possible. If you’d ask when is a good time? I’d say, NOW! If you haven’t already, now’s a good time because to get certified can take anywhere from 30 to 120 days.
It’s unfortunate as of this writing here in Texas through our North Central Texas Regional Certifying Agency, NCTRCA, it’s been 10 months and I’m still waiting on one of my certifications. It’s awful crazy and I can’t believe it takes that long. And the communication there is horrible. But it is, you know, what else can you do? Maybe look into another certifying agency, which is something I might do. That’s just a little side note there.
Know that it takes time to get your certifications so you don’t want to wait until you have a bid in hand and think, oh, I’m going to run and get this certification. It doesn’t work like that.
Another thing and I shared this in a previous video, I think in either video one or two in this series on the Road to Becoming A Government Contractor that you don’t want to wait to get registered with any other agencies either because it takes time.
You can’t ever wait until you have an opportunity before you and think you’re going to quickly apply for your certification and bid that project.
Even with some of your prime contractors, it’s the same thing because there’s a process and you may not get through the process in time to bid on that particular contract you had in mind.
Don’t wait until the last minute to apply for your certifications.
If it’s something you know you want to do, jump in, start working on your certifications like now.
If you missed any of the previous videos in this series, I definitely make sure you go and check them out because I’m walking you through your road to government contracting step by step and I’m giving you the steps and the action items that you need to implement along the way.
Previous videos in this series: Becoming A Government Contractor
Video #1: Government Contracts For Small Businesses
Video #2: Confirm Your Place As A Government Contractor
Video #3: Get Registered For Federal Government Contracts
Video #4: You’re here watching now
If you can’t do this on your own, I get it. It can be difficult, maybe you just don’t have the time to try to research everything or you just want somebody to walk you through the government contracting process step by step, then definitely reach out to me. Check me out over at feliciastreeter.com/mentorship.
I work with clients individually and in a group setting, walking them through the process of starting and growing their government contracting business. We start wherever you’re at in the process with the ultimate goal of building a solid business foundation and making sure you’re ready and able to bid and win contracts.
It’s really about taking you out of the overwhelm, being overworked, and helping you transition into six and seven-figure small business owners.
If you need help, want to work with me one-on-one or join my group program, go to feliciastreeter.com/mentorship.
Now you know what all the certification buzz is about that you may have heard and you’ve probably even heard something about the 8(a) certification too.
I did not cover it here for a reason, because if you’re here watching these videos, then you’re not ready for the 8(a) program anyway. So just put that to the side for a later date.
I have a video where I talk about the 8(a) program. Just know if you’re here and this is where you’re at in your stage of business, you’re not ready for the 8(a) certification program.
Don’t forget to come back next week for the next part of this video series on your Road to Becoming A Government Contractor.