One way companies can increase profits is by lowering their cost of doing business. Reducing the cost of goods and services purchased is one approach, streamlining internal processes to benefit from greater efficiencies is another. I’m going to dive into the latter as it relates to growth activities in the federal sector.

The steps involved in finding and winning federal contracts and subcontracts are processes that, over time, can be refined to maximize results and reduce the time and money spent conducting business development lifecycle activities.  A key benefit of having established processes includes an evidence-driven ability to limit or avoid distractions. Additionally, having established processes and limiting distractions contributes to increased bandwidth.

In this blog series, I’ll discuss four specific distractions that novice, established, small and large companies fall victim to regularly. In addition to these distractions being demoralizing and expensive, each of them is unnecessary.

Here’s the first distraction you should work to avoid.

Before a person or an organization becomes a Customer, they are likely someone you determined fell into your target market based on criteria that included Need, Fit and Potential. In short, there was planning and intent. If this isn’t the case, it could mean you inherited a customer based on a relationship, or it could mean you’re swinging at balls well outside your strike zone. This creates a ripple effect of actions that take you further away from progress. It’s not just the time spent chasing leads to nowhere, it’s the internal and external meetings, conferences, phone calls, emails, social media activities, and more. If you have not established a target market profile, it could mean you’ve not established a strategy, and that means you are flying in the mountains with limited visibility or completely blind.

Government Contracting is not hard, but it does require commitment, context, and discipline. The commitment starts with you, and our Ethical Stalking for Government Contractors® programs have been establishing and improving the context and disciplines of successful Growth Professionals for more than a decade.

 

We help people win.

 

Peace, Health and Success,

 

Go-To-Guy Timberlake