If you’ve read my post on broadening your market vs. deepening your market, you’re familiar with some of the pros and cons that come with expanding your client base or exploring new products and territories. Growing your business usually involves some risk, and it can be difficult to know where and how to expand. An important step in safely growing your business is to conduct thorough, regular market research. This research will also contribute to your overall broadening vs. deepening decision. Read more…
Contracting can get very competitive, and it’s easy to fall in the habit of viewing all contractors in your field as the competition. When it comes to federal or nationwide contracts, this can be especially true: competitors for large-scale contracts such as these could be coming from anywhere in the country, and while it’s easy to identify the big players in a particular arena, there are still a lot of dark-horse competitors to contend with. Read more…
Most government contracts will include a quality control inspection and acceptance clause. Basically, a government agency has the right to inspect the goods and/or services being delivered to them prior to the contract completion. A quality control inspection clause protects the agency by allowing time to spot and correct defects or flaws before completion; it also protects the contractor, as inspection standards are laid out in the contract and cannot be altered to a higher standard after the fact. If you’ve got your quality assurance procedures lined up, quality testing shouldn’t worry you. Read more…
Inventory control involves keeping a good balance - you’ll need to get rid of the items that are obsolete or unwanted, and keep your in-demand items in stock. There are plenty of inventory management methods to make sure that you meet your clients’ needs, especially if you’re a small business. Read more…
When responding to an RFP, have you ever wondered how strict the RFP requirements are? A recent case in Lucas County, Ohio, proves that even if you’re awarded a contract, it can be taken away if you didn’t fully meet the original specification requirements.
New Era Builders Inc. of Cleveland won a $2.5 million Lucas County contract to install security equipment at an East Toledo water treatment plant. A problem arose because the city’s original bid specifications required the winning contractor to have an office in the Toledo area – and contractors were prohibited from opening an office in the Toledo area just to qualify for this project. Read more…