Myth or Fact?

Can you recognize what is fact vs. myth? Take this quiz about a few basic GovCon facts to find out.

1 The government needs to do business with small businesses.

Fact or Myth?
Fact. The government has a goal to spend at least 23% of their contracting budget with small businesses. Last year the government spent just over $451B on B2G contracts. 23% of this is just under $104B.

2To win government contracts, I just need to read and submit proposals and bids.

Fact or Myth?
Myth. People buy from people they know, like and trust which is why marketing is so important to set you apart from your competitors in the noisy world of B2G companies vying for a spot in the GovCon arena.

3If I’m not already doing business with the government, I won’t have the past performance that I need to win.

Fact or Myth?
Myth. The government as a whole is risk adverse. Therefore they rely (sometimes too heavily) on past performance. It’s important to demonstrate that you have performed satisfactorily for other clients. There are a variety of ways for companies who have never contracted with the government to satisfy the past performance requirement and present themselves as a low risk GovCon partner. Do you know what they are?

4The small business office’s mission is to find contracts for my small business.

Fact or Myth?
Myth. The small business office’s mission is to locate small businesses that can satisfy the government’s contracting needs and increase competition pursuant to the Small Business Act. However, in order to meet their mission, they must interact with the small business community at large. When qualifying your govcon prospect, this office is a good place to start making inquiries. But before you reach out – make sure you know what the agency does and how you products and services can support the agency mission.

5I have to be in Washington DC to succeed as a government contractor.

Fact or Myth?
Myth. Nearly 80% of the GovCon spending with B2G companies occurred outside the “Beltway” meaning nearly $350B was awarded to companies NOT in the DC metro area. Being in the “Beltway” gives you more opportunities for regular face-to-face networking, but the numbers prove that a DC metro location is not essential Do you know how to find  opportunities outside the “Beltway”?

How Did You Do? If you correctly identified which statements were fact or myth – congratulations. If not – I’d love to talk to you. 855-357-3330

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