03 Jul Growing Your Small Business Through Government Bidding
James Penney, the founder of JC Penny once said “No company can afford not to move forward. It may be at the top of the heap today but at the bottom of the heap tomorrow.”
In business the failure to pursue new opportunities is often the path to irrelevance. With state and local governments spending about three trillion dollars in the United States in the 2016 fiscal year alone, it is a pivotal opportunity for business development.
State governments are major buyers in healthcare, education, and social services. They routinely spend 1.4 trillion dollars annually towards sustaining these programs. Local governments typically spend even more money at 1.6 trillion dollars, because they are tasked with executing the agenda of the state governments.
With the right business strategy, the government can be a steady flow of revenue for your enterprise. The government routinely accepts requests for proposals (RFP) and requests for quotes (RFQ) from companies all the way from startups to corporate titans.
Unfortunately the process for bidding on these contracts can be chaotic. Unlike with the Federal government, there is no one established procedure for bidding on state jobs. Each state observes it own rules and the local municipalities are even more fragmented. You should be prepared for an infuriating clutter of offices and application procedures.
Because of the chaos surrounding vendor registration, we recommend first finding a bid or RFP that you would like to bid on before embarking on the adventure that is registering and bidding on your first contract. This will help you narrow your efforts and not be overwhelmed by trying to become a vendor before even finding the right opportunity.
Once you have the prospective opportunity in hand, you still have to assess the requirements of the job. Contracts are generally either RFP, RFQ, or an invitation for bid (IFB). Each type comes with its own information requirements. You should also request copies of past successful proposals for intelligence and to speed up your bid.
If this endeavor resembles a bureaucratic nightmare for your organization, then have you considered outsourcing the bid searching process? At YourGovBids.com, we are in the profession of helping you grow your revenue through government procurement. Our staff have streamlined the process of government procurement by personally vetting and curating opportunities that best fit your business. Our tutorials will guide you through every step of the application process. Simply pick the area or industry specific service that works for you, and find your next bid.
James Hall, Outreach Coordinator
Helping small and medium businesses grow is my passion. Contact me at email@example.com with questions or if I can help you grow your business through government contracting.