Lots of small companies attempt to grow too big too quickly. Small companies are resource constrained. Stick to your knitting and do just what you do best. Not even large companies try to be all things to all prospective customers.
High purchase volume can swamp small company quality control safeguards. Remember, your reputation is built on the quality of the item you ship. When the order volume increases, ensure that the quality control, the tools and the procedures match the increase in production.
Workplace politics and office dynamics can hurt productivity. Small companies especially can become married to the status quo. Do not be afraid to make policy, task assignment or employment changes that are in the best interest of the enterprise.
Avoid these three common mistakes and your company can grow.
NOW, Here Are Five Steps to Winning the Right Government Contracts:
Step #1. Hire a proven business development leader and empower her/him to execute a planned process. Don’t fool yourself by providing a junior person on your team the title, and expecting that person to miraculously know what to do. You are setting them and your company up for failure. Would you hire your plumber work on your car engine? Can you have your electrician fix the kitchen sink leak?
Step #2. Seriously examine how well it matches your corporate capabilities to the market opportunities. Are you targeting the right agencies based on your skills? Are you honest with yourself on what you’re excellent at doing?
Step #3. Develop and implement capture plans for every’Must-Win’ opportunity. If you lack a certain expertise seek a partner with that talent and recruit that company to be part of the team. No reason why you should not.
Step #4. Develop corporate capabilities and approach features that positively discriminate you from the contest. There’s plenty of’me-too’ companies out there. Figure out product or service enhancements that will set up apart. Otherwise, you’re in a commodity market.
Step #5. Establish the price to win first — then adjust the remedy to fit the price. As much as everyone wants to hit a home run with the national government, possibly getting the double isn’t only the best approach, but the only viable one. Be real. Be reasonable.