- 23 percent of prime contracts for small businesses;
- 5 percent of prime and subcontracts for women-owned small businesses;
- 5 percent of prime contracts and subcontracts for Small Disadvantaged Businesses;
- 3 percent of prime contracts and subcontracts for HUBZone small businesses;
- 3 percent of prime and subcontracts for service-disabled veteran-owned small businesses
Building a business strategy can involve several steps that are known as capture planning. Capture planning involves making a decision on if the particular bid of interest is worth the time to participate. This process is worth its weight in gold to a small business by eliminating the extra time and money preparing for and submitting a proposal that will not serve you in the long run.
The first step in capture planning is developing an external analysis which involves focusing on the competition’s capabilities. This research can be performed in many different ways; by finding out the competition’s capabilities your company can improve your chances in bid participation and possibly “ghosting” the competition altogether. The next step is internal analysis which is assessing the price point required to win a contract and then assessing your businesses’ past performance and experience.
Past performance is required in order to verify that you are able to follow through on the scope of work. Words of advice, if you are participating in the bid only because it brings in revenue to the business then don’t waste your time. If you are not able to fulfill the scope of work for the requirement… don’t waste your time. Government agencies normally require sufficient documentation that you have performed work in the past that is equivalent to the scope of work. Merely stating that you are capable of fulfilling the requirement will not be a sufficient response.
The next step in the capture planning process would be developing a strategy which focuses on your companies approach to the agencies questions posed in the solicitation. Dependent upon what the agencies needs are the questions can vary. The key is to provide an overall strategic vision that makes sense.
The final stage is the execution and management of the whole plan. Hopefully you have created a strong team that is in line with the vision of the particular plan as well as the business itself. Developing a capture plan is by far not an easy process but is well worth the work.
This post was written by Ilene Giles your, “GSA Proposal Maven” if you are in need of GSA proposal assistance or are interested in growing your business in the federal market visit Ilene at procurementsourcesolutions.com or contact 800-267-7640 x 101.
Tagged as: deanna wharwood, deannawharwood.com, doing business with the Federal Goverment, getting government contract work, Ilene Giles, procurement source solutions, the veterans coach, transition coaching, transitioning from military life to civilian life, veteran owned small business coaching