Veterans Business Resources

a portal for all Veterans and SDV Small Business Owners

Year-End Closeout!

While you sit here reading this post, gaining knowledge and soaking in pearls of wisdom, we are 32 calendar days away from YEAR-END!  Speaking as someone that has been up close and personal in the Government Contracting world, Year-End Closeout is a really BIG DEAL!  Since about mid August, everyone in Contracting has been working extra long days and at least 6 days per week, guaranteed!  Would you like to do that year, after year, after year?  I didn’t think so.  Most people wouldn’t.  But those dedicated and professional 1102s are up to the challenge and understand it comes with the territory.

Why are the 1102s having to work all those extra days and extra hours anyway?  Here is the answer to your very valid question.  They have to work those hours each Year-End because people with money to spend (end users) hold onto their money until the “11th hour of the 4th Quarter” before deciding they’d better expend their remaining budget.  No one ever wants to be caught turning money back in!  Are you kidding?!  That’s the quickest way in the world to ensure you get LESS money in your budget next year.  No one wants that!

What does all this mean for you and your company?  There are several lessons to be learned here and the enlightened SDVOSBs will leverage these lessons to better position themselves and their companies to win more Government Contracts.  There are; 1.  Marketing lessons; marketing is a year round effort, but it should be heaviest during the 2nd and 3rd quarter when spending slows down, there are 2.  Networking lessons; take advantage of all opportunities to interact with end users and buyers, there are 3.  Research/Homework lessons; do your homework before going out to visit buyers and end users – know what they need and how you can satisfy their need, there are 4.  Relationship Building lessons; schedule appointments to visit buyers and end users and advise them of your ability to meet their needs and there are 5.  Opportunities to prove yourself indispensible to the supported agency – in other words, to get your name on the “short list” of SDVOSBs that are called during Year-End Closeout!

 

See you on the high ground!

 

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Filed under: Government Contracting, Networking, Woods Consulting Group, , ,

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