Is the Federal Marketplace Still Lucrative?

The amount of money the federal spends is still astronomical. They spend over $500 billion now and spending will probably reach $1 trillion in the next several years.

Federal agencies buy almost every product or service made including items generally thought of as consumer goods and services. By definition the federal government is the world’s biggest customer.

And the market is recession proof. Natural disasters, war, and terrorism are unfortunately not going to go away any time soon.

The small business portion of the federal market is approaching $100 billion. There are a number of lucrative small business preference programs stimulating this market and Congress is working on legislation that will improve small business incentives. Many small businesses have gone from small start-ups to $50 – 100 million in a short period of time.

So How Do You Win That First Contract?

Take the following steps:

  1. Identify federal buyers who are looking for what you sell. Use network contacts, your neighbors, references, customer referrals, your pastor or any way you can find to find potential buyers.
  2. If none, make cold calls to buyers who have bought what you sell in the past. Knock on the buyer’s door and weather the buyer’s initial reluctance to partner with new companies. Convince the federal buyer that your business will provide value that your competitors can’t offer.

There are no magic secrets here? It’s simply good old sales 101, very similar to selling in the commercial market.

Fedmarket offers contact data for buyers, end-user and key decision makers. Lists start at $500, and give you access to hundreds of government employees with spending power.

Contact Data Available

Need more information? Contact me.

For more information call 888 661 4094, Ext. 2 to speak to a Fedmarket sales representative.

888-661-4094, Ext 2.

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