After a convoluted year for the federal government, Randy Richter, founder and president of Richter & Company, offers his insight for the coming year.
Expect more of the same. Continued delayed contracts, continued budget issues and continued heightened competition. Best value increasingly means lowest price. Large federal procurements will continue to be few and far between, and there’s bound to be a large number of protests too.
Offer creative pricing. In days past, it wasn’t unusual to find companies that were adding fees in the double digits to their bid price. Now, companies may invest in a program so much so that they don’t add any kind of fee. Companies are thinking outside the box with pricing; you must be able to compete in the pricing ring.
Write a compelling, creative proposal. “Prove the benefit of your solution,” Richter emphasizes. Ghost competitors’ solutions, and demonstrate how your company can offer a solution that far surpasses the competition.
Use Bid & Proposal dollars wisely. Know your company’s mission statement, its strategy. Don’t waste B&P money on programs you’re company will not or should not win. In the current state of affairs, you must invest wisely for the future.
Go to the Price to Win experts. In a hypercompetitive federal marketplace, it’s of utmost importance to play smarter. Any kind of “edge” is an asset to your company. Richter & Company’s qualified staff can help your company identify strategies to help you win more business.