What You Should Be Doing this Fall
By Shirley D. Collier
This is the time of the year that businesses are reviewing their budgets and planning expenditures for the remainder of the calendar year. Smart contractors are investing in business development projects and activities that will pay off in 2020 and beyond.
My clients are asking me: How can we get in front of 2020 procurements to shape them? What contract vehicles will have on-ramps in 2020? How do we decide which opportunities to pursue that will result in the highest win rate? Which opportunities will increase my company's market value? How do I instill a discipline in my company that will produce consistent, profitable revenue growth? How do I hire, motivate, compensate and keep good BD people? How do I find reliable, competent, trustworthy teaming partners? How do I measure ROI in my BD function?
The answers to these questions are encompassed in a 6 step process developed over the last 25 years we call the D.A.V.I.E. growth framework. They are:
Gather objective market data on upcoming opportunities, contract vehicles, competitors and agencies
Synthesize this data, prioritize the opportunities and develop specific strategies and an action plan (who, what, when and how)
Clearly define and articulate your value proposition relative to your prioritized opportunities, focusing on the customer’s “job to be done”. How can you help your customer achieve their objective better than the competition?
Invest in good people, information systems and strategic relationships
Execute your plan: communicate internally and externally, ensure accountability, develop disciplined processes, qualify, capture and propose, monitor milestones and remain diligent to market changes
Evaluate: Measure goal attainment, calculate your business development ROI and pivot if necessary
Each of these steps encompasses 30 – 40 additional detailed activities, of course. Nothing is easy. Government contracting is not for sissies. It involves a complex sales cycle in a highly regulated market. But some businesses are outrageously successful. When we analyze the best practices of small businesses that grow and create real value in the federal marketplace, we see a consistent pattern of differentiators, diligence, investment, discipline, strategic teaming and thinking.
You too can learn and adopt these practices, to take your business to the next level.
Shirley D. Collier is President and Founder of Scale2Market, LLC, a federal business development management consultancy, and host of the Growth Masters Federal podcast. She can be reached at email@example.com. For more information on the D.A.V.I.E. growth framework, visit their website: www.scale2market.com/davie.