Veterans Business Resources

a portal for all Veterans and SDV Small Business Owners

4 Basic Elements of Business

Government Contracting and General Business are more closely aligned than one might suspect.  Many of the same elements required to be successful in General Business are also required in Government Contracting.  For example, in each category, one must have; 

1.  Processes

2.  Relationships

3.  Homework/Research

4.  Niche 

The school bell rang some time ago, if we don’t hurry, we’re going to be late for class.  All good students know that to perform well in the classroom, we must prepare before class.  All good Veterans know that to perform well, we must prepare well before that big test, we must prepare before that big evaluation, we must prepare before that dress rehearsal, we must prepare before that full-dress rehearsal.  Government Contracting is no different.  Long before deciding which business sector you like and long before deciding which specific business to enter, you have to do your Homework/Research.  Some questions I imagine you might ask and want to find answers to include; 

  • What are my strengths, weaknesses, opportunities, threats?
  • What am I passionate about?
  • Is there a demand for my product or service?
  • Where is the demand for my product or service?
  • Who in government buys my product or service?
  • How does that government agency normally buy my product or service?
  • How much do I really know about the product or service I want to provide?
  • Where can I get more information about it?
  • Is there a lot of competition in the business sector I want to enter?
  • Is there an opportunity to be competitive?
  • What are the margins?
  • Can I earn a living in this business?
  • Can I build a business in this particular business sector?
  • How do I Market to the government?
  • Can I also sell my product or service to state and/or local government?
  • How do I establish a distribution network for my product or service?
  • What are the latest laws and decisions affecting Veteran-Owned Small Business (VOSB)?  

These are but a small sampling of the questions you will ask and answer about the business you are about to enter.  Yes my friends, we are back in school again.  We still have Homework assignments and we must still conduct Research.  We must study ourselves approved or prepare to face the consequences.  This new school bell rings less often than the school bells of our youth, but the consequences are much more severe and they arrive every 30 days or so.  We’ve got to ensure we get it right the first time because there is little margin for error.

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