The Federal government contracting market continues to be challenging. The average win rate for federal contracts is approximately 20-25%. Experienced contractors with established relationships may see win rates as high as 30-35%. Very far from a sure thing!
For those who didn’t meet their goals this fiscal year, take heart – even the greatest teams have rebuilding years. The key is to view this as an opportunity for growth and improvement rather than a defeat.
Just as a football team uses the off-season to refine their playbook, strengthen their roster, and enhance their training regimen, your company can use this time to regroup and strategize for future success.
Remember, some of the most impressive comebacks in both sports and business have emerged from seasons of struggle. Use this time to reassess your approach, identify areas for improvement, and build the foundation for a stronger, more competitive organization.
Post-Game Analysis: Your Playbook for Future Wins
Whether you’re popping champagne or heading back to the drawing board, a thorough postmortem (or After-Action Review) is crucial. This process is akin to a coaching staff meticulously reviewing game film – analyzing every play, decision, and outcome to inform future strategies.
Here’s how to conduct an effective postmortem:
1. Gather Your Team: Include members from all relevant departments – business development, operations, finance, and project management.
2. Review the Entire Process: From initial lead identification to final contract award (or loss), examine each stage of your contracting process.
3. Identify Successes and Challenges: What went exceptionally well? Where did you stumble? Were there unexpected obstacles or surprising advantages?
4. Analyze Decision Points: Review key decisions made throughout the process. With hindsight, would you make the same choices?
5. Evaluate External Factors: Consider market conditions, competitor actions, and client feedback. How did these influence your outcomes?
6. Document Lessons Learned: Create a comprehensive record of insights to inform future strategies and processes.
This review will highlight areas for improvement, showcase your strengths, and help streamline your processes for the next bidding season. Remember, in both football and government contracting, the teams that consistently perform at a high level are those that learn and adapt from every game.
Rebuilding Strategies for Next Season
Once you’ve completed your post-mortem, take key lessons learned to strengthen your position for future success. Companies that implement structured capture and proposal processes are 2-3 times more likely to win contracts consistently.
1. Refocus Your Target: Conduct a thorough market analysis. Are you targeting the right agencies and contract vehicles? How has the competitive landscape shifted? Evaluate your ideal client profile and unique value proposition. What sets you apart from the competition?
2. Analyze Your Proposals: Scrutinize your bid structure, from technical approach and past performance to pricing strategy and compliance. Seek external reviews if possible. Were there consistent weak points in your proposals? How can you address these?
3. Build Capacity: Invest in the resources and structures needed for future success. This might include new talent, improved project management tools, or enhanced business development capabilities. Remember, building a winning team takes time and strategic investment.
4. Enhance Your Network: Strengthen relationships with potential partners, subcontractors, and industry influencers. In government contracting, as in football, the strength of your team often determines your success.
5. Refine Your Playbook: Based on your postmortem insights, update your capture and proposal processes. Ensure your entire team is aligned on these new strategies and best practices.
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!
