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Opportunity Research in Federal Contracting: Maximizing Your Chances

30 Aug 2023

Success in federal contracting isn’t just about having a superior service or product. It’s about knowing where to look, when to bid, and aligning your company’s strengths with the right opportunities.

Where to Begin Your Search

  1. Formerly, this site is the primary source for federal contracting opportunities above the micro-purchase threshold.
  2. Agency Websites: Individual agencies often post specialized contract opportunities. For instance, the Department of Defense uses eBuy for many of its acquisitions.

Understanding Opportunity Classifications Opportunities in federal contracting often come with classifications that dictate who can bid:

  • Set-Asides for Small Businesses: Reserved for small businesses, promoting economic growth.
  • Sole-Source Contracts: Often, contracts can be directly negotiated and awarded without a full bidding process under specific circumstances.

Bid/No-Bid Decision Making: Making the Right Choice

  1. Alignment with Core Competencies: Does this opportunity align with what you do best?
  2. Profit Potential: Can you execute the contract profitably?
  3. Available Resources: Do you have the required manpower, technology, and time?
  4. Past Performance: Do you have a successful track record in similar contracts?
  5. Risk Assessment: What are the potential risks, and can they be managed or mitigated?

Summary: Opportunity research isn’t just a hunt; it’s a strategic process. Making informed bid/no-bid decisions can be the difference between growth and stagnation. By meticulously evaluating each potential contract, you not only optimize your resources but also enhance your chances of sustained success in the competitive federal contracting arena.