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hey welcome to tme pros so basically commercial companies right coming into the federal space let's talk about some of the challenges that you all are going to face coming in and trying to do business within the federal market let's go ahead and get started [Music] okay so if you're a company that let's say you're a commercial company that you've been in business for like five years and you want to compete in the federal space but are finding it let's just say you might even be a year or so into it right but you're finding it sort of difficult to get a foothold or to really start figuring out exactly what it takes to start building out your company's portfolio within the market you are not alone let me just say that because working business development in other industries versus working business development in the federal industry it's really quite different so at its core i know i've said this before on other videos but it does bear repeating we are a relationships based market so that means you must have connections in order to move to that next level so once you're able to move to the next level of course and it's going to be a whole lot easier we all understand the general dynamics of how business development works but let's get into some of the specifics on how to make it work within the federal space okay so number one if you're a commercial company coming in you are going to number one want to adopt a couple of different strategies we would recommend adopting strategies uh almost all of them right off the bat from a perspective as being a subcontractor number one okay because going after opportunities is a prime in this market without the real proper past performance or at least the past performance that you're going to have to come up against when you're going against other teams who you're competing against essentially right within the federal space so if you're a uh commercial company you have some you know prior experience and past performance but trying to be a prime right off the bat it's just really going to be a frustrating waste of time for you quite honestly of course depending on your size if i'm talking to a very large entity right now you might have some more clout in order to do some more things faster but in general commercial companies coming into this space you still don't know any of the real players you still don't know exactly how the underlying business is being done between government customer or federal contracting company okay and i'll just say that just based on because you don't have that kind of experience yet because there is a different dynamic okay so based on all that coming at your strategies from a perspective as being a subcontractor okay so number one you're to save yourself a lot of time and effort and money by not trying to be a prime too fast got to build up that past performance so as a commercial company in order to be able to go do that all you have to do is find the companies that are already supporting the government agencies that you know that you can come in and add some value to so whatever it is that you're selling in your business okay so whatever service you're selling or product that you're selling you want to sell it to the federal space right you want to be able to go do that as a subcontractor and the way to go do that is to go and find the companies that already have the same similar type of contracts that you would go after as a prime but what you're going to want to do is start to form relationships with companies that have them so you can get on these contracts either right away or get on teams for the recompete for those contracts pretty quickly or at the very minimum start to form these relationships so when new opportunities come out that you know that your other contact that you would have made with these companies who know how to win by the way who know how to price their contracts and who know how to walk away with government dollars at bare minimum you can maybe form that relationship to get on teams for new opportunities with those players sometime in the near future so you're going to want to form those relationships with existing companies first that's number one now the question okay which ones because there are like 600 000 companies in the federal space so which ones make the most sense for you to want to really reach out to right in order for you to offer value on their current contracts or things of that nature so based on that you're just going to want to know maybe you need to adopt a strategy of who you're going after as a government customer so you're going to want to know okay who is a government customer that we can reliably support or we can realistically support who's who's buying what we're selling and maybe that comes to be part of that strategy maybe your strategy is to go local so you need to find the federal contractors or the companies that are already doing business in your backyard right all sorts of ways to slice and dice that but as a commercial company coming into this federal space you're going to want to find those companies that already have these current contracts for the kind of work that you can support and start talking to them getting on zoom calls with them forming relationships with them see if you can get on some current work now and then also maybe seeing if you can get on teams in the near future so basically you're building these relationships but with the right companies and you should be doing that in a quick sort of fashion because the last thing that you want to do is waste a whole lot of time and resources just talking to other companies or trying to utilize strategies that just will not have probability of a high payoff within a short period of time right so trying to put in as least investment as possible in order to get something going so in that case for the federal space you're going to want to start working with companies that already have those contracts won and who are already working them with their government customers and then you start there so for that of course the tme pro platform if you're in sam.gov you have a free account waiting for you a teaming pro that's how you would find those companies based on drilling down by their contracts and see who was supporting what government customers and there's all sorts of ways to find the kind of companies that i'm talking about here so that is the number one easiest way for a commercial companies coming into the space to start getting some federal contracting traction a whole lot faster coming out your business development through a subcontracting perspective number one find the companies that make the most sense that fits your strategies okay like number two number three that we didn't really get into too much but is inherent within our tv pro system is once you find these companies you research their contracts you research their information and you get to know who those companies are and then that's when you reach out so when you reach that part in your business development process right where you're ready to do your reach out you've already researched everything about these companies that you need to have at hand in order to hold the kind of conversations that they're going to expect you to be able to hold you see so that little last part of the research that is the last part for your current business development team or your current sales team to be able to understand and to utilize right before they do that first initial reach out to that new prospective federal contracting customer or team member or however it is that you're looking to grow so that last part of information gets consumed and then utilized by your business development staff and then you use that within your your very first reach out your very first communication talking about them and their contracts talking about how you understand their business essentially and then that's when you're going to set up calls and that's when you're going to start seeing the wheels start to churn um some of this within the federal space building out that subcontracting portfolio hey hope that was helpful if you want to learn more please come and see us at our youtube channel you can search and find us at teaming pro love to teach you more business development strategy and how to win within the federal market thanks