In an article published on April 9, 2019 in CO—, a new digital platform by the U.S. Chamber of Commerce, I provided insight on the process of securing federal contracts for small businesses.
Once a business has searched for contracting opportunities and has completed all the necessary registration requirements, it can begin bidding on contracts. Though before bidding, it is important that the company can handle the job the contract requires and that it can meet all of the regulatory requirements – otherwise the contract could ultimately be terminated. “Don’t overpromise in your technical proposal, that becomes part of your contract and you’re going to have to deliver to those technical specs,” I explained.
Additionally, the proposal should include pricing information and according to Todd, the company will want to be realistic and not overcharge while also keeping in mind that the government sometimes chooses the best value over the lowest price.