As we prepare for the government’s end of the fiscal year (FY) buying season, government contractors anticipate a very busy procurement season. COVID-19 has created an unusual backlog of request for proposals (RFPs) as a result of procurement professionals’ response to COVID-19 and adjust to working from home. This shift in priorities delayed the release of RFPs that were planned prior to COVID-19. It is believed that those deals will be released during the end of the FY buying season. Therefore, it is important for government contractors to take the following steps in preparation for the upcoming buying season:
- Identify expiring contracts and develop a pipeline of targeted contract opportunities
- Conduct research on your targeted contract opportunities to gain insights into the requirements
- Gain understanding of the government procurement strategy for your targeted deals
- Build relationships with existing contractors within your client organizations
- Remain committed to following up with all key stakeholders relevant to your targeted deals
There is no magical formula for achieving success in the government contracting industry. It is all about doing the hard work of conducting the proper due diligence into your targeted opportunities, building the right relationships and remaining committed to your strategy.
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