The only thing worse than not having enough information to support decision-making is not understanding the information you have. It happens too often in #federalcontracting. The cost of one piece of information taken out of context, is dollars dedicated to a pursuit that nets you nothing. To maximize your customer and opportunity knowledge, focus to know the lingo.

Yes. Federal Contracting is chock full of unique terminology, especially acronyms, that establishes the foundation of our marketplace lingo.

Yes. The more you understand it, the better you can prepare for opportunities, and for competition. However, trying to swallow the ocean only serves to distract and derail your efforts. To get the most return for the time and money you have invested and will invest, develop practical and meaningful focus.

Specifically, have a plan that sets your sights and efforts on the prospects and leads aligned to your goals. Putting it bluntly, minimize the shiny objects and the squirrels that pop-up. Doing this allows you and your organization to gain familiarity with the goals, policies, processes, programs, strategies, and terminologies that matter to you and the relevant buyers, customers, and stakeholders.

There is a plethora of useful information available at your fingertips, but like a gym membership, it only helps if you use it. Over and above vernacular unique to the department, agency, or office on which you are conducting Ethical Stalking for Government Contractors®, are the names of the investments and programs that represent federal agencies new and/or continuing capabilities, supplies, and systems. These details, readily available for free from most agencies, are invaluable for understanding what the agencies intend to achieve, why they want to achieve it, how much they anticipate spending, who the champions, decision authorities and stakeholders are, and more. Pair this information with budget justifications and summaries related to the approaches agencies plan to use, and much guesswork, and unfamiliarity can be reduced.

The challenges? Many vendors aren’t aware this decision-enriching information exists or where to find it. Still more of them suffer from their eyes being bigger than their stomachs, when it comes to federal contracting customers, and opportunities.

One last piece of advice. Since validating knowledge and expertise is tough, even for those with knowledge, verify the accuracy, relevance, and timeliness of your sources. You’ll thank me later.

Peace, Health, and Success,

Go-To-Guy Timberlake