Top Challenges Faced By Small Business in GovCon | Federal Compass

Tuesday, January 21, 2020 at 10:30 am
Introduction to Federal Compass

Top Challenges Faced By Small Business in GovCon

01/14/2020


We meet with many small business owners and executives and listen to the unique challenges that they face with government contracting. Those discussions and that feedback works its way into every aspect of our products. That’s why, at Federal Compass, we aim to level the playing field by empowering small business contractors.

fbo-sam-migration

Is it a Process Issue or a Business Development Challenge?

At a high level, we see two groups of problems faced by small business contractors. First, there are process issues, which include things like managing an opportunity pipeline or interactions with contracting officers. Second, there are business development problems, including opportunity identification, new customer identification and of course, identifying pathways into those opportunities and customers.

Customer Diversity

We see many small business contractors who rely on just a handful of contracts spread out among even fewer customers (many times just a single customer). The lack of customer diversity presents a real risk to small business, and at the same time many small business contractors don’t have access to market intelligence tools that can identify pathways to new customers.

Cost as the Root Cause

Underlying business challenges like process and business development, cost exists as a real roadblock for small business, preventing the adoption of more robust tools that can help solve those problems. We found that many small businesses rely on spreadsheets to manage their pipeline. This is a problem because spreadsheets lack the process (workflow, notifications and alerts, status, ownership, etc.) that push opportunities from identification to win.

We also found that cost is the leading factor in limited market intelligence for small business. This means that instead of pursuing opportunities with good fit and alignment to strategy, small businesses often just chase the latest RFP. With finite resources, this misalignment can waste B&P dollars on a pursuit destined for loss. It’s also important for small businesses to set aside funds to engage consultants when the time comes to pursue an opportunity, perhaps for competitive intelligence or price to win strategy.

An Integrated Solution

Small business should strive for a robust and integrated process. This means market intelligence, opportunity identification, and pipeline management all within a single tool. Traditionally, software solutions that check all these boxes are prohibitively expensive for small business. At Federal Compass, we believe that shouldn’t be the case, which is why our pricing starts at just $25/user per month.

The Author

Chad Ganske Federal Compass
Chad Ganske
Changing the perspective of government contractors one market intelligence report at a time.

Federal Compass offers unique solutions for every member of your government contracting team.

Recent Posts

Top Challenges Faced By Small Business in GovCon

We meet with many small business owners and executives and listen to the unique challenges that they face with government contracting. Those discussions and that feedback works its way into every aspect of our products. That’s why, at Federal Compass, we aim to level the playing field by empowering small business contractors.


written by Chad Ganske, published 01/14/2020


FBO (FedBizOpps) / SAM (System for Award Management) Transition Guide

The official transition from FBO to SAM took place at the beginning of November, and now all federal contracting opportunities can be found on the new SAM website, including everything from solicitations to awards. This guide aims to answer the most pressing questions by contractors when making the transition from FBO to SAM.gov.


published 12/19/2019


'Tis the Season to Rethink Market Intelligence

Make this the year that you demand more from your market intelligence provider.


written by Jim Sherwood, published 12/06/2019


Case Study: Reducing Market Intelligence Costs

We ask one of our customers to evaluate the quantifiable savings and qualitative improvements of switching to Federal Compass.


published 12/06/2019