October 2020: A New Federal Year Begins
As most people know, the US Federal Government starts their new budget year on October 1st and ends 12 months later on September 30th. With a new year and new budget, October is the perfect time to reconnect with your federal government contacts. And for those businesses who have never sold to the federal government before, the new federal year is a great time to explore and determine if it is a good option for your company.
To reconnect, or connect, with your federal agency contact(s), you need to have an updated capability statement targeted to that agency. Conduct research so you know and understand the agency’s needs, problems, and issues before you make a connection. Make your introductions and conversations about how you can solve their problems and issues, NOT what they can buy from your company.
If you have sold or plan to sell to a federal agency, you should conduct research to understand how much of your product or service has been purchased by that agency in the past. You can search for past federal sales. In addition to past purchases, search the federal forecast for new possibilities. Remember, if your company has added new capabilities, products, and/or services, you should do research on those opportunities, too. If you have not done this research before, you can check out GSA Forecasting Contracting Opportunities and Acquisition.gov for a list of links to agencies and forecasts.
Using the information you gathered from your research, you should also determine if there could be opportunities outside of your original scope. Can you re-position your company to provide a product or service that is in demand? Is there a different agency that purchases products or services you currently sell? Has a forecast given you insight on a new product or service needed by a federal agency?
As always, if you are not sure where to start or how to get organized, connect with the North Dakota Procurement Technical Assistance Center (ND PTAC), we are here to help! Our services are offered at no-cost to businesses registered in the state of North Dakota; just register to schedule an appointment. If you’re not from North Dakota, find your closest PTAC on the APTAC website and then click on your state.