When it comes to the due diligence for making decisions and taking action to grow in Federal Contracting, referred to as “doing your homework,” the variations are endless. They shouldn’t be.

If you review the pipeline process for twenty companies in Government Contracting, regardless of size or maturity, you’ll see at least that many different approaches. Examine the risk profiles of the same companies, the point at which they would pursue or bid on opportunities, and the number will rise according to how they measure risk for opportunities cultivated on their own, versus those presented by teaming partners. There should be no difference.

The other day, I was part of a discussion where “homework” was a key element. As I listened to someone from Industry pose a question to someone from Government, it occurred to me there were at least two definitions of “homework” in play for that conversation, although both sides assumed they were using the word based on the same metric.

As I’ve shared previously, Federal Sector Business Development is not a borderless activity. Quite the contrary. There are parameters, lines to color within so-to-speak, to help you stay on course. However, the minute we dive into data and information, especially at the transaction level, we succumb to B.D.A.D.D. (Business Development Attention Deficit Disorder) by giving too much attention to the squirrels and shiny objects we encounter. We wholeheartedly intend to be good stewards of our time and our company’s resources, but alas, there was an IDIQ opportunity due in six days from an agency we don’t yet know, that looked very, very appealing.

There are multiple reasons that even the best of us is lured by distractions. A lack of Context and Process are two of the biggest in my opinion. If we don’t fully understand the meaning of something, or what it means to us in that particular moment, we very often take our shot with a semi-educated guess and hope for the best. Defining How, Why and When we take certain actions, allows us to measure outcomes and adjust as necessary. Finding and Winning leads and opportunities in Federal Contracting is best achieved as a process versus a reaction. Determining where and when you get the information you use to make decisions, and how it’s evaluated for accuracy and timeliness, plays directly into your ability to be competitive and to grow. Don’t Be Your Own Worst Obstacle to growth.

Next time, I’ll take on establishing metrics for “homework.”

Peace, Health, and Success,