Installment 22: Prosper in the Federal Market

Outsider Perception: The federal market is tough to crack.

Reality: The perception is true.

Lesson: Although the federal market is difficult to tackle, companies that are successful in doing so quickly realize that it's an extremely lucrative one and that their actual sales costs - once they are entrenched - are actually less than in the commercial sector.

Background: This newsletter concludes the 22 part series entitled "Cracking the Federal Market: The Small Business Guide to Federal Sales." The federal market is not really more difficult to enter than any other new market your business has targeted. Don't let the fear of the unknown hold you back. Approach the task of tackling this new market in the same way you would if it were a commercial market. Market entry requires tenacity and patience. The federal market offers rewards commensurate with the effort your staff puts into delving into this new endeavor. For highly-focused companies, the rewards can be exceptionally rich and lucrative.

Keep in mind that federal buyers will never get rid of companies which perform at the highest levels because trusted performers make the buyers' professional lives easier and risk free. These buyers will go out of their way to make sure that your company remains their business partner. The partnership truly begins when your company wins its first contract and, once this occurs, your company has total control over its destiny in the market. It is entirely possible for one-person firms which work in the federal market to grow to $100 million businesses in just a few years.

Small business preference programs can dramatically impact upon your company's growth. Those which cannot take advantage of preference programs take heart -- companies without the benefit of preferences have also experienced explosive growth.

The critical steps to success in the federal market outlined in this series are:

  1. Sell to federal customers as you would in the commercial market.
  2. Learn the rules for closing federal sales.
  3. Get a GSA Schedule contract and sell with a pre-approved price list.
  4. Target federal customers in your region first and become an "insider" like the large federal prime contractors.
  5. Use the inherent advantages of being an insider to help your business succeed in the federal market.
  6. Certify your company as one of the preferred small businesses if it qualifies.

Archives of all our newsletters can be found at www.fedmarket.com. Feel free to send a copy to your friends and business associates.

Need more information? Contact me.

Installment Series:

Installment 1: The Best Offense is a Good Defense
Installment 2: Make the World's Biggest Customer Your Own
Installment 3: Market Research in the Federal Sector
Installment 4: Become an Insider in the Federal Market
Installment 5: Competition and Price Sensitivity in the Federal Market
Installment 6: Are Federal Bids Wired?
Installment 7: Fundamentals of Federal Contracting
Installment 8: Making a Federal Sale
Installment 9: Closing a Federal Sale
Installment 10: Start with the Credit Card and Quick Buy Markets for Smaller Transactions
Installment 11: Consider Starting as a Subcontractor to a Prime
Installment 12: Selling Directly to Prime Contractors
Installment 13: Pre-approved Government Price Lists
Installment 14: Getting a Pre-approved Federal Price List for Your Company
Installment 15: Small Business Preference Programs
Installment 16: Distinguishing Messages Win in the Federal Market
Installment 17: Selling to Federal Agencies Located in Your Backyard
Installment 18: Getting Started in Federal Sales
Installment 19: Don't Get Caught Up in Red Tape
Installment 20: Steps to Take After Winning Your First Federal Contract
Installment 21: Learn How to Write Federal Proposals
Installment 22: Prosper in the Federal Market

Fedmarket has been helping companies win government business since 1995. We have been featured in the Wall Street Journal, the Washington Post, and other trade publications. Our customer testimonials speak to our competence and expertise in helping customers win federal business. We have been singled out by public and private organizations -- including the Small Business Administration and federally-funded Procurement Technical Assistance Centers -- as the most comprehensive government contracting resource in the industry. Our web site's free content includes informative newsletters on GSA Schedules, Proposal Writing and Federal Business Development.

Visit Fedmarket
For inquiries, call 888 661 4094. Press 2.


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