You’ve heard the phrase give first before you expect to receive something in return. When just starting out in government contracting figuring out what the prime contractor need prior to expecting something in return is a must.
It may require some research on your part, but the time investment will be well worth the investment when you’re negotiating to create your best deal.
Here are the three things to give a prime contractor before you expect anything in return.
- What they (the prime contractor) need
- Certified companies
- Small projects – not multi years to complete
- Contractors with own bonding and insurance
- Benefits to prime
- Meet subcontracting goals
- Cash flow
- Cover payroll
- Capacity to perform
- Ability to do the work
- Cash flow your own portion of the contract
Figure out what the prime contractor challenges are before reaching out to them. Determine what the benefits are associated with you giving them what the need.
If you remember nothing else, although it’s all important, make sure you have capacity to perform on the project.