In a federal contracting market that is so driven by finding opportunities, taking the time to identify its win probability is far too often an afterthought. Being able to provide your company with an accurate assessment of its ability to win a particular opportunity is crucial. If the information provided to team members is inaccurate or wrong, that is a costly mistake for your company and potentially, your career.
First Steps for Opportunity Assessment
- Does the opportunity align with your company’s goals?
- Does your company provide the services that the opportunity is demanding?
- Do you have past performance that is relevant to this opportunity?
- Is there any relationship your company has with the customer?
Taking the time to identify if you have a chance of winning an opportunity long before you have even started the submission process will go a long way for your team. Your company’s resources will no longer be spent on opportunities you never had a chance at, which should help increase the ROI of your business development investments and resources.
Probability Win Calculator
There are different methods and calculations to help calculate your team’s probability win percentage, but below are some of the most common in the federal contracting industry.
- Current customer AND current offering = extremely high probability win rate
- Current customer but not a current offering = moderate probability win rate
- Not a current customer but a current offering = potential probability win rate
- Not a current customer AND not a current offering = shy away from this opportunity
Federal Contractor Solution
To provide federal contracting businesses with opportunities that better align with their goals and service offerings, we have a penetration analysis tool that provides in-depth knowledge for each opportunity. Some of our competitors tout their ability to flood your pipeline with opportunities, but what advantage does that provide your federal contracting business? If you have all these opportunities and only 25% are ones that you can actually win, you’ll be spending time and other resources chasing opportunities you never had a chance to win from the beginning.
We break down opportunities to show obligations by fiscal year, obligations by award type, primary contract vehicles used, how much funding is available by department, and more.
Get in touch with us today to see our Penetration Analysis tool in action so you can start finding better-aligned opportunities and increase your probability win-rate!