As the crisp autumn air signals the start of football season, government contractors are gearing up for their own high-stakes finale: the federal fiscal year-end. While gridiron warriors chase touchdowns and field goals, contractors are sprinting towards contract wins and renewals.
It’s a time of intense activity, strategic plays, and potentially game-changing outcomes. So, as we near the final whistle of the fiscal year, it’s time to ask: How did your contracting season go?
Celebrating Victories and Managing Rapid Growth
For those who’ve secured new contracts, it’s time for a well-deserved end zone dance! Your hard work, strategic planning, and expert execution have paid off. Small business awards continue to decline, from over 120,000 in fiscal year 2012 to less than 80,000 in fiscal year 2023. Of those small businesses that did win contract awards, the majority (60.6%) won contracts worth less than $99,900. Less than 18% of the small businesses are winning contracts worth more than $1M. If you’ve beat the odds, congratulations!
However, as any seasoned player knows, winning brings its own set of challenges.
Consider the case of a small 12-person firm that recently landed a major government contract. Their victory lap was quickly followed by the realization that they now need to staff over 50 new positions. Without robust systems and processes in place, this dream contract could spiral into a logistical nightmare.
Rapid growth, while exciting, can strain your company’s resources, culture, and operational efficiency. It’s crucial to have scalable systems in place to handle increased workload, new hires, and expanded responsibilities. Remember, in both football and government contracting, it’s not just about winning the game – it’s about being prepared for the entire season.
Quick Wins for Contract Winners
Securing a new contract is just the beginning. For the company that is onboarding numerous staff for new contracts that means ensuring everyone is working from the same playbook. That playbook can’t be in one person’s head! It must be shared with the entire team and must constantly be reviewed and updated.
Here’s how to set yourself up for successful execution:
1. Streamline Onboarding: Create a comprehensive checklist based on customer requirements. Include items like security clearances, building access protocols, and any client-specific training needs. A smooth onboarding process sets the tone for the entire contract engagement.
2. Refine Company Orientation: Develop a compelling presentation of your company’s mission, values, and unique selling points. Help new hires understand not just what you do, but why you do it. This is crucial for maintaining your company culture during rapid growth.
3. Update Contact Lists: Ensure new team members have easy access to key personnel across departments. Include HR for benefits questions, IT for tech support, Finance for payroll inquiries, and project leads for day-to-day guidance. Consider creating a user-friendly digital directory or welcome packet.
4. Establish Clear Communication Channels: Set up regular check-ins with new hires during their first few months. This helps identify and address any issues early, ensuring a smooth transition onto the contract.
The Long Game: Investing in Continuous Improvement
While this review process may seem time-consuming, it’s an investment in your company’s future. Just as championship teams analyze every game, successful contractors must regularly assess and improve their performance.
A thoughtful analysis now will pay dividends in increased efficiency, improved win rates, and stronger contract performance for years to come. Remember, in the world of government contracting, adaptability and continuous improvement are key to long-term success.
Need an objective partner to guide your review and help develop winning strategies? Lucid Pursuit offers judgment-free assessments and actionable insights to boost your success in the next contracting season. Let’s turn your fourth-quarter lessons into next year’s winning playbook.
As you prepare for the next fiscal year, remember: whether you’re celebrating a big win or planning a comeback, the most successful teams are those that learn, adapt, and continuously strive for excellence. Here’s to your success in the seasons to come!
