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New Year’s Resolutions for the Contracting Community

2015 means new opportunities.  Not just in terms of upcoming contracts, but within your organization as well.  Here are some suggestions on how to make the most of opportunity knocking: Use the No Bid.  There are far too many companies that feel like once they’ve invested B&P dollars, they must bid an opportunity.  Encourage your team to use discretion in walking away from a contract.  Gate reviews serve as great times to assess your company’s decision to pursue an opportunity.  If you don’t have a convincing story for winning, don’t waste your time. Invest In Your People.  A successful business is comprised of successful individuals.  Take the time to define your company’s mission, capture strategies and tools for success to each of the members of your team.  Give your employees the tools they need to communicate effectively with each other, and provide outlets for feedback for management.  Enter them in training courses, and allow them to continue growing as business professionals. Invite Consultants to the Table.  Need someone to come in to enforce the resolutions for 2015?  Outside consultants can work free from your company’s biases and management’s (possible) backlash.  Too many teams drink their own kool-aid:  thinking their wrap rates can’t possibly be lowered or that their incumbent status ensures contract victory.  Consultants can help confirm assumptions, bolster your team’s strategies, and help you win more business. About Richter & Company Richter & Company is an industry leading competitive intelligence consulting firm whose services have helped clients win more than $30B in new revenue since 2006.  Please visit www.richterandco.wpengine.com for more information.