What is the Engine that Penetrates the Federal Acquisition System?

 

 

Monday Morning Contracting Tips

 

 

We often time ask the question “HOW” do I become successful in the Federal Government Market. The answer is simple but takes on huge responsibilities. Market Research is often referred to cavalierly as “easy” yet it is complex, nuanced, and can be extremely  powerful. If you are not prepared to take the time to do it right, be prepared to take the time to do it over and over until you do it right. This constant routine will cause you to pay more than you’re originally budget for Market Research, do it right the first time. 

 

Market Research power lies in the fact that it is used as a means to identify a course of action, action items based upon data. If we consider Market Research is the engine that penetrate the Federal Acquisition System, then a strong and vibrant Market Research Methodology must be in place. In the federal market you can’t expect to raise to the top of success if you don’t plan properly, planning requires information, information is obtained through RESEARCH. Therefore Market Research is paramount to your success when attempting to penetrate the Federal Acquisition System.

 

I have often mention if you want to be successful in the federal government space it’s important that you establish a very similar structure in your company as the government does in it's organization;

 

Example: The shortest section of the Federal Acquisition Regulation (FAR) is FAR Part 10, “Market Research” at essentially 2.5 pages of text; however, the phrase “market research” is referred to 91 times in most recent edition of the FAR. Market Research virtually affects ALL acquisition decisions being considered. Whether the government is looking for you or you are looking for the government: Market Research dictates the outcome; whether they find you or you find them, market research is used.         

 

 

10 Tips for a Successful (International) Business Collaboration

Monday Morning Contracting Tips

 

1. Align your partnering strategy with your general strategy Partnerships can be used for developing innovative products, for getting new channels towards your clients, or to acquire economies of scale. Focus on type of partner that best supports your competitive strategy and disregard other partnering opportunities. 2. Present yourself in an attractive way Just as in real life, your will have a better choice in partners if you are attractive to collaborate with. Clearly formulate your strengths, your ambitions and how you want to approach the partnership. 3. Don't jump into the arms of the first partner that comes along If you make known that you are looking for collaborations, the first partner that comes along might be the partner that will have the most to gain from the partnership. Therefore use a structured way for finding a partner, through your network, or -in case of international partnerships- through local intermediaries. 4. Determine the benefit for the partner A partnership should be a win-win, so what's the gain for your partner? Why would a partner work with you, instead of with one of your competitors? If you keep that in mind, the partnership will be more balanced. 5. Learn from similar partnerships Your partnership is unique, but certain aspects and the basic form might be similar to a lot of existing partnerships in your industry. What are best practices in these cases that you can apply to your specific situation? 6. Negotiate yourself Always negotiate yourself about business aspects such as scope, fees and responsibilities. Only bring in the lawyers after setting the outlines of the deal. This will save you time and legal costs, but will also help to better understand your partner, which is especially important in international partnerships. 7. Prepare to divorce even before the wedding Before signing the partnering agreement, decide how each of the parties can end the alliance. Especially when setting up a new legal entity it might seem easier to leave this open, but it will cause all kinds of tension in the collaboration. 8. Invest in the start Spend time to update the people that haven't been involved in the negotiations about the purpose, structure and contractual arrangements of the alliance. In international partnerships, also explain about cultural differences and communication style. 9. Measure the progress The first financial results will in most cases only be visible after half a year or more. Don't loose time to correct and measure predictive indicators such as communication, planning and trust. 10. Train your people Managing a partnership or collaboration is a profession in itself and also the people involved in the daily operations need to know how to handle collaboration across the border of the company. Benchmarks and training can help.