Fedmarket is offering a complimentary series Lessons on Federal Contracting to help companies better understand how federal agencies buy products and services. Twenty two (22) short and concise lessons will be presented over 22 weeks so readers can gradually build knowledge of the federal market at their own pace.

Installment 1: The Best Offense is a Good Defense

Outsider Perception: The market is impenetrable.

Reality: Entering the federal market is no different than entering a new segment of the commercial market; it just appears mysterious from the outside.

Lesson: Don't shy away from the federal market. Entering the market can transform your company and it is an effective way to counter a slowing economy.

Background: The federal market is growing so fast that it's virtually impossible to determine its size. Experts theorize that between $450 million and $500 million is spent annually.

Do you find yourself asking, "Why did my competition win that big federal contract and not me?" You deserve some of the $500 billion being spent annually so go after it. It isn't as mysterious as you think. Succeeding in the federal arena requires a focused effort up front to unravel the red tape and figure out how the game is played. Consider entering the federal market as a defensive move against a slowing economy. So what if the economy doesn't slow down? You will have increased sales and strengthened your company. Although deciding to tap into the federal market is generally a smart business strategy, companies often shy away from the prospect. The most prevalent reasons for this are:

1. The apprehension concerning the red tape associated with federal work
2. The perception that the market is a closed one dominated by the big players
3. The misconception that if your business is not located in the nation's capitol, it won't be successful in the federal game
4. The fear that the federal market is completely different from the commercial market

Most of the reasons outlined above boil down to a lack of understanding of the market or a fear of the unknown. With just a little bit of research and the knowledge gleaned from such research, you may find federal business right in your backyard. From a political standpoint, both Congress and the White House favor small businesses because of their voting power and importance to the economy. Recent legislation enacted by Congress encourages federal installations to purchase from small business owners. Why shouldn't these customers do business with you?

Installment Series:

Installment 1: The Best Offense is a Good Defense
Installment 2: Make the World's Biggest Customer Your Own
Installment 3: Market Research in the Federal Sector
Installment 4: Become an Insider in the Federal Market
Installment 5: Competition and Price Sensitivity in the Federal Market
Installment 6: Are Federal Bids Wired?
Installment 7: Fundamentals of Federal Contracting
Installment 8: Making a Federal Sale
Installment 9: Closing a Federal Sale
Installment 10: Start with the Credit Card and Quick Buy Markets for Smaller Transactions
Installment 11: Consider Starting as a Subcontractor to a Prime
Installment 12: Selling Directly to Prime Contractors
Installment 13: Pre-approved Government Price Lists
Installment 14: Getting a Pre-approved Federal Price List for Your Company
Installment 15: Small Business Preference Programs
Installment 16: Distinguishing Messages Win in the Federal Market
Installment 17: Selling to Federal Agencies Located in Your Backyard
Installment 18: Getting Started in Federal Sales
Installment 19: Don't Get Caught Up in Red Tape
Installment 20: Steps to Take After Winning Your First Federal Contract 
Installment 21: Learn How to Write Federal Proposals
Installment 22: Prosper in the Federal Market

Visit Fedmarket or give us a call at 1-301-960-5817. We can help you became a successful government contractor.