Fundamentals and Basic Building Blocks of Winning Federal Contracts!
Want to become a prime and start doing government contracts? Then, read this blog to learn the fundamentals and basic building blocks of doing federal contracts!
LET’S START WITH THE BASICS!
Looking at my previous content, I made a bunch of content talking about specific things that the only people who were familiar with are already doing business with the federal government, so I decided to make this content where I actually start connecting the dots.
“I’ve got great videos, but if you’re not familiar with how to put the pieces of the puzzle together, then they’re just, basically, puzzle pieces scattered out.”
Note, that this blog is only for those people who want to become prime contractors. These contractors are basically companies that have direct contracts from a specific government agency.
1. NAICS code
A North American Industry Classification System (NAICS) code is a six-digit long code that distinguishes the products and/or services that your business would like to provide to that specific agency.
If you also provide a wide variety of multiple products and services, then you can certainly have a multiple NAICS code.
If you want to know about this code and how to choose one, then check this video entitled “Primary vs Secondary NAICS Code.”
2. DUNS number
A Data Universal Numbering System (DUNS) is a nine-digit identification number assigned to identify your business and to track your company’s credit record.
It is actually similar to your EIN number, the tax ID number that’s assigned to your business after you’ve set up your corporation.
Note that a DUNS number is free to obtain and if your business is in various locations, then you need to get a different DUNS number for each location.
To get your DUNS number, you can go into the Dun & Bradstreet website or you can either request via this toll-free telephone number, 1-(866) 705-5711.
If you want to know more about this code and how to apply for one, then check this video entitled “How to Apply for a DUNS Number.”
In registering, you primarily need to create an account first. You can either choose an individual user account or a system user account. However, it is preferred to create the latter.
After creating an account, you can already register but make sure that you appropriately fill all of the information.
Depending on the complexity of your business, your registration might take about an hour and it can also take an average of 7-10 business days to process in the database.
Other than that, you should update your SAM profile on an annual basis or when a certain change in your business information is made. The updating or renewal process might take for approximately an hour before it becomes active on your SAM profile.
If you want to learn more on how to register in SAM, then check this video entitled “Register System for Award Management “SAM.gov” to win Federal Contracts.”
Before you finish your SAM profile, make sure to go down to your Dynamic Small Business Search (DSBS) page and answer the necessary information because you can use this to create a unique profile for your business.
“This is what helps you stand out from the crowd. This is your opportunity to highlight your history, your past performance, and give a brief description about your company to fellow agencies.”
Besides, information in the DSBS is publicly available and is widely used by contracting officers to help them choose between two similar companies entities.
With this in mind, you can check this video entitled “SAM.gov part 3 of 3 (SBA Profile) Dynamic Small Business Search” to learn more about the process.
BASIC BUILDING BLOCKS
1. Professional email address
This seems like a very novice concept, but we don’t need people out there with email@example.com, we need people with professional email addresses that represent their company. For instance, it can say yourname@llccorporation or suchandsuchpainting.com.
As a prime, it doesn’t make sense if you don’t have a website because these are what most consumers or buyers tend to look at. Besides, websites are so inexpensive to create.
3. Corporate Identity
When we’re talking about corporate identity, we’re talking about your marketing materials like your business cards, brochures, and things like that. Remember, corporate identity is your logo.
“(It should be) something that when someone sees it, it sticks out that that is your brand and who you are.”
4. Capability statement
Your capability statement is your company’s resume and it should be formatted in a certain format that has information that agencies look for when talking to you.
This is especially important because when you’re going to go around and you start talking to small business agencies and small business specialists, they’re going to ask you for your capability statement.
If you want to learn more about this, then check these videos on how to “Build a professional capability statement for pennies on the dollar!” and “Capability Statement Do’s Don’ts Resources and more.”
Now, you have the fundamental pieces of the huge puzzle. Note that these are just the building blocks and fundamentals for interested businesses that want to become prime contractors.
With this in mind, if you want to learn more about the tips and tricks in winning government contracts, then join us here at GovCon Giants.
Just visit our website and other social media platforms or check the new GovCon Edu where you learn everything about government contracting!
You can also check these resources below to learn more about the topic above:
BASICS Building blocks to win federal contracts! (government)