There it is…that’s the question that most people are thinking. If this is such a great market, then why aren’t more people achieving their dreams as contractors? Well, first, there’s a lot more of us out here than you know! Most wealthy entrepreneurs in the Federal Government contracting industry launch small businesses that you have never heard of. Their companies typically support nested government organizations that lay deep in the Federal Government organization chart. And, when they sell their companies, they are typically acquired by companies that you have never heard of, either!
Even more obfuscating, government contracting small business owners don’t arrive at their high-rise corporate offices via a limousine driving service and take the private elevator to their corner offices. Frequently, they are imbedded with their small contract teams, working in government facilities. Yet, these folks are making millions of dollars! However, the question is still valid. This market should be flooded with aspiring entrepreneurs, and it’s not. Here’s why.
Most aspiring entrepreneurs either lack the initiative or patience to learn and follow the process to sell their goods or services to the Federal Government. With impatient investors, maturing debt and shrinking “burn time,” many small business stakeholders are too impatient to pursue the longer Federal Government sales cycle and forgo this lucrative market.
In their defense, learning this industry is incredibly difficult. This is completely unbelievable, but not a single elite MBA program specializes in doing business with the world’s largest customer, the US Federal Government. It’s shocking, but somehow the universe of higher education has overlooked this TRILLION-DOLLAR industry!
Admittedly, there are training companies and consultants that provide specific training programs, but they are all tailored to companies with very deep pockets. In fact, these training programs are predicated on the requirement to invest 2% to 4% of the expected contract revenue on the bid and proposal effort. For their target customers that pursue multi-BILLION-dollar contracts, they have TENS of MILLIONS of dollars to invest in their bid and proposal efforts…and training!
Here’s a totally free piece of advice for any startup founder who has $30 Million to invest in a proposal effort…Skip this industry and just buy your small private island now! The advice for those startup founders that don’t have $30 Million just laying around, find an organization like Government Contracting Academy that focuses on SMALL businesses entering the FedGov contracting industry. You’ll have to look hard because there’s hardly any of these programs.