Recruitment Cycle & Seasons of Hiring
Every system that works has a recognizable rhythm. In government contracting that rhythm is annual – the season in this industry starts in October when the fiscal year begins (important only for accounting and taxes). Some officials like spending during the year without much of the remaining budget in final weeks. Many other officials allow […]
Fiscal Year End (FYE)
Fiscal year ends every September. It exists for accounting necessities and tax compliance. According to GovTribe, government spending increased several times during each September in the last decade or so. Departments are given a budget each year and if there is excess, it goes back to the US Treasury. Less money allocated to the department […]
Contract Financing – Get Money Before Invoicing
Many business savvy individuals reach for the credit card when it is time to pay up front on a large amount. Loans from banks or credit unions are also common. But if you want to a higher chance to successfully get financing, you must first consider that you may not have enough collateral through a […]
RFP this, RFP that. Why?
The government uses the RFP format to keep the process of contracting work and spending funds transparent to the public. Networking at events and in-person interactions are still preferred methods for easy success in this industry – but this mandatory format of procuring contractors allows more of fair playing field for newer and greener candidates […]
RFP 101: Request for Proposal
Government thankfully uses a standard with their Requests for Proposal (RFPs). The format they use to keep consistency is called “UCF” or the Uniform Contract Format. Uniform it is – some people complain but it’s almost dangerously easy to meet all requirements with just a little practice and training. There are four main parts to […]
What is a Contracting Officer?
The official RFP manager that decides whether you win or lose from a pile of dozens of proposals, aptly described by some as ‘the final boss’ in the bid process is a ‘Contracting Officer.’ Network with them frequently and positively for your best chances at staying updated. Contracting Officers (CO) have the ability to make […]
Specialize and Get Hired Immediately
Specialize for a fast turnaround to success. Either solve a small problem for a big market or a big problem for a small market for easy profits. Most contractors new to the game that specialize or provide innovation to their field can get wealthy the fastest this way. Elon Musk is a government contractor that […]
The Four Biggest Contractors in the US
Lockheed & Martin, Raytheon, Boeing and General Dynamics are the 4 biggest players in government contracting. Behemoth companies each take almost 100 Billion in government contract revenue each year. Defense and military spending are Federally some of the largest budgets and they get a majority of this market share. Our tech needs to stay number […]
Cooperate to Win Faster
When you enter a new complex market, it can be difficult to get all the required basics to succeed in one place. No matter the work or enterprise, always make sure to get your foot in the metaphorical door. Good news if you are already at this point! There are several ways to collaborate with […]
Contracting 101
Many smaller and newer companies rely on delegation to assist the big established contractors on their huge jobs. The established contractor, also known as a Prime Contractor, is the main proprietor of the contract while the smaller company helping them on a part of the whole is called a ‘Subcontractor’. The ‘Prime’ Contractor might benefit […]