The Federal government has become one of the largest incubators for small businesses. A reliable and secure customer that sets aside a portion of the hundreds-of-billions of dollars spent every year to create a safe harbor for start-ups and growing companies. However, those gaudy topline numbers act as neon lights attracting newcomers and obscuring the complexities and nuances that exist within the Federal market.
This reality tends to set in once a company has taken the first step of registering with SAM and establishing itself as a Federal contractor. However, once that is done, where does a company go from there, what are the next steps? In this market, there is rarely a straight line to that first contract win. There is a maze of potential decisions; some prove fruitful while others burn through precious capital. In a universe of thousands of potential customers and contracts, where will you begin?
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There's reason to be excited for CIO-SP4. With new tracks and more initial awards than CIO-SP3, spending on CIO-SP4 is anticipated to surpass to CIO-SP3 trends. We've put together an eBook focused entirely on understanding CIO-SP3 trends ahead of CIO-SP4. Lessons learned from CIO-SP3? You are more likely to fail than to succeed. If you’re determined to pursue CIO-SP4, preparation is necessary to position yourself for success.
Federal Compass launched its Opportunity & Market Intelligence platform for government contractors back in 2019. Since then, we've attracted a diverse user-base, focused on a range of industries within the government contracting space. We get a lot of questions about who uses Federal Compass and what features they find most compelling. Here are some quick numbers to show just how diverse our community has become.
The Federal government has become one of the largest incubators for small businesses. A reliable and secure customer that sets aside a portion of the hundreds-of-billions of dollars spent every year to create a safe harbor for start-ups and growing companies. In a universe of thousands of potential customers and contracts, where will you begin?
Are you monitoring SAM or have you become dependent on SAM? Understanding what is and what is not posted to SAM is critical for obtaining a clear view of your market. While SAM offers a great resource for identifying potential leads, there is a much bigger universe you're missing by fixating on SAM.
written by Jim Sherwood, published 02/18/2020