With a little luck and a lot of hard work, you can make this the best year for your bidding government contracting business. For a little fun, here are some New Year's resolutions to apply to your business plan.
7 New Year's Resolutions For Government Contractors
- Expand your government contracting business. This could be the year you enter a new market, service, or product. Make sure to do proper research for any additional certifications. Try finding a product or service that's adjacent to what you currently do. Don't forget to find new partners.
- Improve your business prowess. Implement better and more efficient processes, streamline communications, or adopt new technology to enhance productivity. Don't forget to prepare your system for security challenges in the future.
- Get on the sustainability bus. The government has now implemented greater measures for sustainability, which means they will prefer to work with companies with the same goals. Consider how your business can operate in a more environmentally-friendly and sustainable manner. Reduce waste and energy consumption, and offer products and services that are sustainable.
- Augment your professional abilities and development. It's never too late to invest in your professional development. Gain more skills and take new courses of learning. Focus on those that present you with additional certifications to increase your expertise and value in your field. You'll stay current and keep competitive with other contractors.
- Make a wider, stronger network. Building strong relationships with your clients is key to your long-term success. Consider ways to improve communication and collaboration with your clients and be responsive to their needs and concerns.
- Stay current with industry news and trends. Keeping up with industry trends can help you stay competitive and identify new opportunities for your business. Commit to educating yourself on the latest developments in your field regularly.
- Subcontractor no more. It may be time to make the jump. If you believe you've done your due diligence and learned everything from your Prime contractor, take the leap into finding your very own government contract.
Remember to set specific, achievable goals for yourself and regularly review your progress to stay on track with your resolution. With dedication and hard work, you can make a successful and impactful New Year for your government contracting business. Remember, if you want to keep your focus on your niche, let us take care of the added hardship that government contract accounting brings. Peter Witts CPA is here to help you celebrate a new year in government contracting.
I’m Kristin, the PWCPA PC Customer Success Specialist. For more information about this topic, or any other, you can always reach me through our customer ticketing system.