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Personal Lessons Learned: Key Elements of Success!

Through many years of struggle and trying things that didn’t always work out I have learned some key lessons about how to successfully create and build a viable business.  Regardless of the area of business that I was pursuing, a new division that I decided to launch, or a new program that we had conceptualized, when I look back there always seemed to be certain key elements which made each one of those actions a true success.  I noted that the ability to create a clear vision in my mind and the ability to express that vision to others in plain language, whether members of my team or to my target audience, was the first step to gaining a successful result. My vision would be so clear that that I could actually see myself as though a movie was playing in my head as I would talk with clients, see myself making a sales presentation or negotiating a big contract. When you have the ability to sit down and chart your course and truly visualize and see what success is to you that is your first step in actualizing and creating your brand.

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Female owner of a small business standing inside a textile factory

Last year, the U.S. Small Business Administration announced that the federal government reached its goal of awarding 23% of contracts to small businesses for the first time in eight years. Of the $83.1 billion spent with small businesses, 4.32% was awarded to women-owned small businesses (WOSBs) – up from 4% in 2012 and 3.98% in 2011 – but still short of the 5% goal in place through the SBA’s Women-Owned Small Business (WOSB) Federal Contract program.

The journey to meeting the 5% goal for WOSBs has been a challenging one, but it has sparked the creation of programs and resources to help women business owners get their fair share of government business. One program that is helping women in the procurement arena is  ChallengeHER – a joint initiative by the SBA, Women Impacting Public Policy (WIPP) and American Express OPEN. The program, created in… Continue reading →

American currency against an USA flag backdrop.A few weeks ago, President Obama signed the $1.1 trillion spending bill into law, providing funding for the majority of the federal government through the next fiscal year. This means that a number of government agencies have contracts ready to be filled and that 2015 is a great year for small businesses to get acquainted with the world of government contracting. Read More

Business ProblemsWhen small businesses are considering entering the federal marketplace, often the Small Business Administration and experienced contractors will suggest they go the route of becoming a subcontractor to a prime. Subcontracting can be a great way for business owners to learn about the common ins and outs of government contracting while working alongside another company that can offer advice and expertise. Read More

Mitigating risk is an important part of my company’s brand. When we are planning their projects, our clients expect us to look at every little details that could possibly go wrong and ensure that we deliver on time, on budget and without any hiccups. Of course, the bigger the project, the greater the risk.

However, we became so focused on looking out for our clients and their risks that we failed to look out for ourselves. Read More

Having a valuable network is key to success in the world of procurement, as many opportunities stem from strong relationships that were built over time. If you are networking in order to grow your business, you need to do more than purely meet and greet at another wine and cheese party. In order to really get value, you need to develop a good strategy and think deliberately about the types of contacts you have and those that you need to advance your business. How can they serve your growth?

Having a well-rounded network should include individuals and organizations in these four categories: Industry, Customers, Competition and Nonprofits. Read More

 

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