Lots of small companies attempt to grow too big too quickly. Small businesses are resource constrained. Stick to your knitting and do just what you do best. Not even large companies attempt to be all things to all potential customers.
High order volume can swamp small business quality control safeguards. Bear in mind, your reputation is built on the quality of the product you ship. When the order volume increases, ensure the quality control, the tools and the processes match the rise in production.
Mistake #3. Workplace politics and workplace dynamics can hurt growth. Small businesses especially can become married to the status quo. Do not be afraid to make policy, job assignment or employment changes which are in the best interest of the enterprise.
Avoid these three common mistakes and your company can grow.
NOW, Here Are Five Steps to Winning the Right Government Contracts:
Step #1. Hire a proven business development leader and empower her/him to execute a planned process. Don’t fool yourself by providing a junior person on your team the name, and expecting that person to know what to do. You’re setting them and your company up for failure. Would you hire your plumber work on your car engine? Would you have your electrician fix the kitchen sink leak?
Develop a strategic plan and update it quarterly. Seriously examine how well it matches your corporate capabilities to the marketplace opportunities. Are you targeting the right agencies based on your abilities? Are you honest with yourself on what you’re excellent at doing?
Develop and execute capture plans for each’Must-Win’ opportunity. If you lack a specific expertise seek a partner with that talent and recruit that business to be part of the team. No reason why you should not.
Step #4. Develop corporate capabilities and approach features that positively discriminate you from the competition. There’s plenty of’me-too’ businesses out there. Figure out service or product improvements that will set up apart. Otherwise, you are in a commodity market.
Step #5. Establish the price to win — then adjust the solution to fit the price. Just as everyone wants to hit a home run with the federal government, possibly getting the double isn’t only the ideal approach, but the only workable one. Be real. Be reasonable.