Feeling overwhelmed by the competition in the government marketplace? You’re not alone. Many small business owners struggle with this issue, but the good news is that there are strategies you can use to stand out and secure more contracts. Here are three effective ways to eliminate your competition and boost your chances of success:
1. Preferences:
Government agencies often have preferences for certain types of businesses. These preferences can be based on ownership (e.g., minority-owned, veteran-owned), location (e.g., businesses in HUBZones), or other factors. Make sure you qualify for these preferences and highlight them in your proposals. This can give you a significant advantage over your competitors.
2. Capacity:
Building your capacity to handle larger contracts is crucial. This involves improving your financial health, securing the necessary bonding, and expanding your workforce. By demonstrating that you have the capacity to deliver on large projects, you can position yourself as a more attractive option for government contracts. This will also get you a step closer to those multiple-year and million-dollar contracts.
3. Set-Asides:
Set-aside contracts are reserved for specific types of businesses, such as small businesses, women-owned businesses, and businesses located in economically disadvantaged areas. These contracts are designed to reduce competition and give smaller businesses a fair chance. Make sure you apply for set-aside contracts that match your business profile. This can greatly increase your chances of winning contracts.
While competition in the government marketplace can be fierce, there are strategies you can use to stand out and win more contracts. By leveraging preferences, building your capacity, and applying for set-asides, you can significantly reduce your competition and increase your chances of success.
Want to learn more? Download my free “5 Keys to Your Million Dollar Year” Checklist & PDF Guide here: https://feliciastreeter.com/keys/
Check out my detailed video where I share more insights and tips on how to eliminate competition and win more government contracts:
Don’t let competition hold you back. Implement these strategies and start winning more contracts today!
You’re just one contract away!!
Felicia Dupree
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