Getting Started: Doing Business with the Feds

The Small Business Administration (SBA has an array of resources for you to specifically learn how to do business with the Feds.  I would like to give you some simple and basic advice before you start searching through the volumes of support from the SBA.

I assume you have already launched your business and selected your legal form of entity i.e. partnership or corporation or joint venture, etc. I’d like for you to do an exercise to determine if you are ready to do business with the federal government.

Please consider the following questions:

1.       Do you have a business plan that outlines your goods and services and what makes them distinct in the market place?

2.       Do you know your cost structure for your goods and services and can you evaluate the impact of volume of sales on your cost elements?

3.       What is your ability to deliver these goods or services to any location in the United States?

4.       Does your cash flow allow the financing of business development and waiting for a successful bid while maintaining current operations?

5.       If a security clearance is required can you pass a rigorous background check?

Each of these questions will be further discussed in separate articles but please use them as a guide for your readiness to pursue doing business with the Feds.  Once you have completed a review and consideration of these questions, we can proceed to the next key steps such as targeting your customer and determining what you want to sell.

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