Modify Your Business Development Strategy as Your Company Grows

Business development is a difficult task for companies new to the federal market. This is particularly true for a company with no federal experience or contacts. Many companies and salespersons, in their first attempts to develop federal business, begin by searching for organizational charts and telephone directories using Cold calls are then made to federal end users who might buy a company's product or service. Others elect to use the small business representative at the target federal agency or to call the agency's contracting division to inquire "who buys what?" The process is very time consuming and frustrating but, with patience and persistence, success often follows.

For the sake of this discussion, let's assume your initial efforts were successful and your company has several federal contacts or an actual sale. It is therefore time to begin evolving your company's business development efforts into a more network-based approach. Consider changing your business development efforts from primarily a cold-calling approach to a networked approach. Remember that federal buyers enjoy networking as much as those in the private sector. Assuming your business has performed well for the federal buyer's agency, he or she should be willing to introduce you to other buyers. Ask your contact to assist you in preparing a list of other potential federal customers. In this regard, ask your federal contact for the names and contact information for other federal employees he or she knows. Inquire who his counterparts are in other federal agencies and for any information he or she may have on who buys what you sell. Identify those professional organizations your federal buyers belong to and consider attending their meetings and seminars.

This article has been viewed: 5451 times

Rate This Article

Be the first to rate this article