Understanding Government Contracting – Payments and Paperwork

Have you ever taken a class where from the very start it seemed like a foreign language?

I mean the stuff you were hearing sounded like something you’d never heard before. Like a foreign language!

When you look at transitioning from private sector work to government contracting it feels the same way, like a foreign language. Yet, when you get into government contracting you think one contract from the next will be the same. It’s just not so.

As you’ve ventured off into government contracting you’ve realized that right? Of course, that’s why you’re still reading this.

 Government contracting is a beast all within itself.

The government pays slow…

Unlike the private sector you’ve heard that the government pays slow. And know you’re questioning if you want to do government contracting.  

You do know the government has money. And after visiting the Federal Reserve, I believe if they ran out of money they’d just print some more! Once the contract is awarded the money is allocated and set aside for that contract. Do the work and you’ll get paid.  

In the private sector, you don’t have that guarantee. Come on – be honest. Are you telling me you’ve never had to beg and wait to be paid by a client? Maybe I’m the only one.

The government doesn’t work like that. Once you meet the necessary requirements which you know beforehand and submit the necessary paperwork you’re paid as outlined in the contract.

Have you heard of net 14-days? That’ll be your homework to go research and learn how you can get net 14-days on your government contracts.

Bet you don’t get that with your private clients.

There’s too much paperwork…

You’ve heard that there’s too much paperwork with government contracting so you’re hesitating with getting started.

Sounds like you’re being lazy!

Yes, there is a lot of paperwork. So yes it’s going to be a lot of work and it’s going to be time-consuming, but yes, it’s very rewarding. You can overcome the paperwork. Take the time to learn how to do the paperwork. There are companies that will help you with getting your business set up with government contracting. You don’t have to figure it all out on your own. Resources are available. You just have to be willing to invest the time and money.

Do the math and you’ll see that the time and money you invest to get your business setup and ready to receive government contracts will be well worth the investment.

Truth bomb: Stop being lazy and cheap. Where you’re at right now will be where you’re at next year, if you don’t do something different today.

 Here are just some of the benefits of government contracting:

  • Limited competition
  • Paid on time
  • Plenty of contracts

Game Changer Tip: Have a kick-off meeting for all key players when awarded a contract will help facilitate you making sure all contractual requirements are met. PLUS you get paid on time!

You’re looking at the whole picture wrong. Yes, there is a lot of paperwork with government contracting, yet they do pay on time. And I’ve never heard…we don’t have the money to pay you! Bet you’ve heard that from your clients before. 

What are you going to do? Stop being lazy and get in the government contracting game. You can use the government to take your business further faster when you commit to doing the work, investing the time and investing the money to get help especially if you’re in the same spot today you were in last year.

What are you going to do?

If you need help you can check out the Contractor’s Edge Bootcamp. We’re here to help you stop begging for clients and start landing government contracts. We’re going to embrace you where you are, educate you with proven strategies, and empower you to position your business to land government contracts.

If you need help and are looking for someone to learn from where you can tap into their knowledge, lessons learned, and proven success strategies, I want to be your teach.

Here’s the link to learn more and join us for the next Contractor’s Edge Bootcamp!