The challenges inherent for government contractors in today’s environment are literally historical. While as difficult as this period is, as a business owner you can also try and make use of the extra time you now have (and did not want) to focus on how to help your company grow, not just with a short-term focus on when the government starts fully functioning again but for the long run. As Bill Gates famously pointed out, the most valuable asset anyone has is time - and as a business leader you rarely have time to spare! Try and use some of this time to regroup and figure out if you are positioned where you want to be for your company’s future. Here are some things to consider as you think through your current growth plan.
Next: look at your positioning in the market place and think about where you want your organization to be in three to five years. Are you currently a small business reliant on set-aside contracts? If your goal is eventually to be acquired, then you need to shift your focus to full and open wins. Do you have the correct plan and people in place to achieve that? If you are “too big to be small and too small to be big” then what is your plan to successfully beat the larger companies at their own game, as well as for shaping the environment so that your future “A” targets are put out to bid without a set aside designation? If you are a private company that needs growth capital, do you have a clean enough balance sheet to get either debt or a minority investor who will help instead of aggravate you? What should your company’s financial profile be to attract the best investment deals?
Finally: do you have the “right” relationships to achieve your end goals? Whether they are with customers you want to win future work with, possible future teaming partners, potential investors or the right advisers to help you position yourself to get bought, relationships are critical to your success. It is not enough to be just good at what you do - if no one is aware of your successes and the strength of your management team then it may be a lot harder to achieve growth goals that include raising growth capital or being acquired.