Despite its popularity among growing businesses as a source of additional revenue, federal contracting is a tricky business to get into. Thousands register everyday hoping to strike it rich with a juicy contract only to fail. While there are many factors that contribute to this, one of the least understood and hardest to overcome is a lack of past performance.
Simply put, past performance is your company's contracting record - which agencies you've worked with, what contracts you've completed as the prime or subcontractor, whether the work was completed satisfactorily and what problems were encountered during the job. It's like a resume for your company, complete with references and past work experience. And just like an applicant whose resume is missing these key points of information, your chances of winning a contract with no past performance are going to be depressingly low.
There are many reasons why agencies prefer to work with experienced contractors with a history of past performance. Having worked past contracts not only means a contractor is more likely to provide the quality work necessary - it also means they're more likely to be familiar with federal contracting rules, regulations and procedures. Purchasing officers feel they can trust an experienced vendor more to complete all work on time and to charge fair rates. Past performance records also mean that agencies can check references to corroborate what the vendor reports about past projects.
Although it can be frustrating, there are ways for new vendors to break into the federal market. The best way is through the Simplified Acquisition Program. Contracts that fall below the simplified acquisition threshold have a much less complicated award process than larger projects. In some cases, purchasing officers will call one or two vendors on the phone and make a purchase on the spot - which can open the door for a new vendor who has never worked a contract before.
In order to help both new and established vendors take advantage of these opportunities, US Federal Contractor Registration has created the Simplified Acquisition Program. This package includes everything necessary to start working with the federal government as soon as possible. The Simplified Acquisition Program provides System for Award Management registration, a seven page website in the standard Federal Government format, branded domain name and hosting, search engine optimization, customized official government profile, monthly email bid notification and contract support. This program has already generated millions of dollars in additional revenue for thousands of small businesses.
US Federal Contractor Registration is the world's largest third party registration firm that offers assistance with everything from System for Award Management (SAM) to GSA Schedules. US Federal Contractor Registration testimonials and reviews are second to none, having registered over 65,000 businesses in System for Award Management.
Simply put, past performance is your company's contracting record - which agencies you've worked with, what contracts you've completed as the prime or subcontractor, whether the work was completed satisfactorily and what problems were encountered during the job. It's like a resume for your company, complete with references and past work experience. And just like an applicant whose resume is missing these key points of information, your chances of winning a contract with no past performance are going to be depressingly low.
There are many reasons why agencies prefer to work with experienced contractors with a history of past performance. Having worked past contracts not only means a contractor is more likely to provide the quality work necessary - it also means they're more likely to be familiar with federal contracting rules, regulations and procedures. Purchasing officers feel they can trust an experienced vendor more to complete all work on time and to charge fair rates. Past performance records also mean that agencies can check references to corroborate what the vendor reports about past projects.
Although it can be frustrating, there are ways for new vendors to break into the federal market. The best way is through the Simplified Acquisition Program. Contracts that fall below the simplified acquisition threshold have a much less complicated award process than larger projects. In some cases, purchasing officers will call one or two vendors on the phone and make a purchase on the spot - which can open the door for a new vendor who has never worked a contract before.
In order to help both new and established vendors take advantage of these opportunities, US Federal Contractor Registration has created the Simplified Acquisition Program. This package includes everything necessary to start working with the federal government as soon as possible. The Simplified Acquisition Program provides System for Award Management registration, a seven page website in the standard Federal Government format, branded domain name and hosting, search engine optimization, customized official government profile, monthly email bid notification and contract support. This program has already generated millions of dollars in additional revenue for thousands of small businesses.
US Federal Contractor Registration is the world's largest third party registration firm that offers assistance with everything from System for Award Management (SAM) to GSA Schedules. US Federal Contractor Registration testimonials and reviews are second to none, having registered over 65,000 businesses in System for Award Management.
About the Author:
US Federal Contractor Registration provides SAM registration assistance, contract support and professional marketing services to small businesses nationwide. Contact the Contractor Helpline today for more information about how the Simplified Acquisition Program can help your business succeed in the federal marketplace!. Free reprint available from: US Federal Contractor Registration: How Past Performance Can Make Or Break A Contractor.
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