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GovCon Lifecycle: Purgatory to Paradise

The second govmates institute, GovCon Lifecycle: Purgatory to Paradise met at the Northrup Grumman location in McLean, VA. In an authentic meeting-of-the-minds, industry experts discussed topics pertinent to growing the local govcon footprint.

Highlights from the institute include:

Purgatory: That Awful Time Between Submission and Award

  • BAFO’s, How to respond to government requests, FAR compliance, “Gotcha’s”“Proposals are rarely won at submission, but they are lost. If you get an EN – correct, don’t defend.”
    Barry Landew – Wolf Den
    “To mechanically lower your price during ENs make sure you revisit trends to see where you can adjust.”
    Avantika Singh

30-60 Day Transition & Ramp-Up

  • Recruiting & Operations (Transition planning, Re-badging, Quality Planning, Customer interaction) –
    “Be sure to stay in touch with your key personnel and others that you bid after you submit your bid.  Fostering this relationship will cut down on your recruiting time.”
    Mary Holmes – BOOST
  • Contracts (Sub-K’s, Negotiations) –
    “Best advice that is not only the most obvious but the most overlooked – did you read the entire contract award and do you know what you are signed up for?  Make sure everyone on the team is aware.”
    Amanda Tyson – BOOST
  • Accounting (Accounting system set-up, Billing requirements, Types of contracts)
    “Make sure you get the labor category paperwork done up front because you could lose money if they don’t meet the qualifications.”
    Giacomo Apadula –  BDO

Opportunities in Loudoun County

  • “Insider baseball on AWS is coming to Northern Virginia. There is still a ways to go, there will be another downselect based on sites.”
    Steven Hargan – Loudoun Economic Development

Now That You’ve Won – How Do You Pay for It?

  • Have your contracts folks review the financing document.  It’s a contractual document – CEOs make sure you know what you’re getting into and completely understand the terms.“Be careful and read the fine print to make sure you’re actually getting the rate you think you’re getting from your financial providers.”
    Matt Stavish

Capture & Business Development for FY2019

  • Be strategic about your capture process – make sure it’s a rolling 36-month pipeline.
  • Focus on both getting onto some of the larger IDIQs (hello Oasis!  GSA Schedule 70!) and on agencies that award independently – who buys from you? 
  • Yes, there seems to be less direct sole sourcing opportunities and more competitively bid set-aside work for 8a’s.
    Kim Pack, Wolf Den

Join govmates to be updated on future opportunities for continuing education and targeted matchmaking! 

Continuing Education

By now, our college days are long behind us (let’s not talk about how many years). Some folks have sought continuing education in the form of a master’s degree, PhD, certifications, and other credentials. Some of these factor into our “employability” and can help move our careers.

Assuming you’ve gotten the credentials/certifications requested and additional schooling that you are going to do – now what? Where do you go to find more information about your industry and stay on top of trends? What resources are available for continuing your education on the tips and tricks that successful people in your industry employ?

There are countless webinars/seminars/conferences that you can attend for federal contracting; many are relatively low cost. But how many times have you listened to a speaker provide the very highest level of information with generalities and no details? How often have you heard the same message over and over (“get to know the customer, or shape the opportunity” sound familiar?)? Why is there a dearth of actionable advice that resonates with you and your company?

The same usual suspects are putting on the same educational series with the same speakers. There is a lack of transparency/real life, straightforward advice in the industry.

Why?

  • Is it because the speakers don’t know (if this is the case, why are they speaking?)
  • Their information is outdated (I’ve seen the same speech out of certain folks for YEARS)
  • They are afraid that you won’t seek their services for hire or will use their advice and not need them

What this industry needs is real, direct, transparent advice from people who have seen a lot of different things in the federal space and who aren’t afraid to share the information. Professionals that will tell you what they honestly think vs keeping it politically correct for fear of saying something controversial. Real business people who actually have solid opinions but are open to new ideas and ways (not stuck in the federal marketplace of the 2000’s).

The govmates Institute was launched with this in mind. We provide the real scoop on issues that are germane to your business. No bullshit, no pie-in-the-sky convoluted discussions without actionable ideas that you can implement immediately. Demand more out of speakers – you deserve it.

Our next govmates Institute will be on September 6th – From Purgatory to Paradise. It’s a half day dedicated to:

  • Purgatory – that awful time between proposal submission and award. What’s a GovCon to do (legally)? How to address questions, requests for redlines, and BAFOs. What can your Program Manager say (or not) to someone on source selection? What can you tell your employees?
  • 30 to 60 Day Transition – We all claim we’re ready on Day One. Yeah, right. There’s a lot that happens in that first few months and as the saying goes, you only get one chance to make a first impression. How to handle the hiring/recruiting of a new team, how to negotiate with the government, issue subcontracts to subs, get your accounting house in order, and tips for keeping the client as happy as possible, given the million balls in the air.
  • Now you’ve won – How do you pay for it? We all know we can use our banks and lines of credit. But what if you’ve maxed out your line of credit capacity? What if you don’t have enough operating history for the bankers to provide the line? What if you need upfront cash for Purchase Orders or advance hiring? We bring you some non-traditional methods to fund those first few months when you are incurring costs before actually getting paid.
  • FY19 Capture and BD Opps – great, you won. Now, what’s next? ‘Tis the season for 2019 strategic planning off-sites and budget prep. What are you going after next year and what do you need to track?

Register at: https://govmates.com/institute/