State of Women Owned Small Businesses within Government Procurement: Small Business Contractors Trends & Growth Opportunities

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1 State of Women Owned Small Businesses within Government Procurement: Small Business Contractors Trends & Growth Opportunities Presented by: Gloria Larkin, President, TargetGov TargetGov TargetGov

2 Agenda 2 Leverage the WOSB program to improve, elevate and enhance your company s perceived benefits to contracting officers and corporate buyers Locate viable direct and indirect contract opportunities Maximize your competitive position and business by effectively connecting, getting to the decision maker and successfully building the relationship

3 Who are WOSB? 3 According to American Express OPEN s 2013 State of Women-Owned Businesses Report: A Summary of Important Trends, , as of 2013, it is estimated that there are over: 8.6 million women-owned businesses in the United States, generating over $1.3 trillion in revenues and employing nearly 7.8 million people.

4 Starting at a Fast Pace 4

5 Growth Areas 5 The metropolitan areas that have seen the greatest growth in the number of women-owned firms between 2002 and 2012 are: San Antonio and Dallas, TX; Baltimore, MD; Washington, DC and Atlanta, GA.

6 Most businesses in the U.S. economy are also small with respect to business receipts. 6 75% of all firms including 88% of womenowned firms generated less than $100,000 in annual revenues as of % of all firms and 4% of women-owned firms generated more than $500,000 in revenues annually 5.3% and 1.8%, respectively, topping the million-dollar revenue mark.

7 Upward Trends for WOSBs Between 1997 and 2014, when the number of businesses in the United States increased by 47%, the number of women-owned firms increased by 68% a rate 1½ times the national average. the growth in the number (up 68%), employment (up 11%) and revenues (up 72%) of women-owned firms over the past 17 years exceeds the growth rates of all but the largest publicly traded firms, topping growth rates among all other privately held businesses over this period. 7

8 Geographic Analysis 8 The states with the greatest number of women owned firms are, naturally, the most populous states. California is home to the greatest number of women owned firms in the country, and is the only state in which there are 1 million or more women-owned firms.

9 Leverage the WOSB Program 9 The WOSB Program has recently been enacted - opening the door to 5% of $500+ Billion every year! $25+ Billion in federal contracting opportunities Do business with the world s Fortune One Customer This is a relationship-based market!

10 Federal WOSB Revenue 10

11 What are Your Business Strategies? 11 Your Business as a Prime Contractor Your Business as a Subcontractor Your Business as a Teaming Partner

12 Your Strategies: Identify Your Targets 12 Your Company Your Target You as a Prime contractor AGENCY You as a Subcontractor PRIMES You as a Team member Other Vendors

13 Tactics for Success 13 Build relationships Be professional Mitigate risk Separate yourself from competition Narrow your focus, laser approach Mitigate risk Identify opportunities Identify decision makers Have the contract vehicle needed Mitigate risk

14 Critical Tools Required 14 Identify your Core Competencies Past Performance Differentiators Company Data Opportunity locator Quickly identify the decision-maker, her responsibility & level of interest in your business Contract vehicle CRM system

15 Capability Statement: 5 Mandatory Elements 1. Call it a Capability Statement 2. Core Competencies 3. Differentiators 4. Past Performance 5. Company Data 15 1 page Printed and PDF format Small file size! Under 1 MB

16 Decision-Makers 16 Small business representatives OSDBU, SADBU, SBLO Contracting and acquisition staff CO, KO, COTR Program and technical managers PM, end-user

17 Venues to Meet Decision Makers 17 WBDC Conference in September!!! Vendor outreach events Agency conferences Networking events Matchmaking Capability briefings

18 Five Steps to Obtaining 18 Decision-Maker Meetings 1. Identify Targeted Organization Agency, prime, team member 2. Create a Targeted Capability Statement 3. Identify exact person Small business rep, contracting officer, program manager

19 Five Steps to Obtaining Decision-Maker Meetings Contact via to request a Capability Briefing, include your Capability Statement as a PDF 5. Contact via phone Bonus Step: REPEAT!

20 Capability Briefing 20 An in-person meeting which may happen face-to-face or on the phone The purpose is to show how your firm definitively fits into their specific needs

21 With Whom Will You Meet? 21 Small Business Representative Contracting Officer Program Manager But not all at the same time!

22 Pre-Briefing Research 22 Use for past opportunities Use FedBizOpps.gov for current opportunities Use Agency Forecast for upcoming opportunities

23 Know How the Government Buys: Purchase Vehicles 23 Make it easy to do business with you! Credit Card: P-card, purchase card GSA Schedule GWACs BPA IDIQ 8(a), HUBZone, SDVOB Certifications

24 Locate Viable Direct and Indirect Contract Opportunities Over $25K (publically advertised): FedBizOpps.gov Sources Sought Notices (1,200 in last 30 days!) FedConnect.net Army Single Face to Industry and Other DOD sites Under $25K (not publically advertised): Each agency Each base Each office, decision-makers! 24

25 Federal Tools: Data Sources 25 Free: FedBizOpps, FedConnect, FPDS, DOD emall, SBA Pro-Net & SBDS, Agency web sites PTACs, association-related sources Subscription: BloombergGovernment, FedSources, Input, FedMine, Onvia, Centurion, MyFedBid, etc. More popping up every day! You can drown in data unless you have the sales process identified!

26 CRM Systems 26 File cabinet, shoebox and 3 x 5 cards Outlook, Excel spreadsheet ACT!, Goldmine and other PC-based systems Salesforce.com and other web-based systems Don t drown in data!

27 Mistakes to Avoid 27 Do not say introduce Don t ask what they need Don t take a generic PowerPoint or Capability Statement Do not confuse the OSDBU, CO and PM

28 Review 28 Leverage the WOSB program to improve, elevate and enhance your company s perceived benefits to contracting officers and corporate buyers Locate viable direct and indirect contract opportunities Maximize your competitive position and business by effectively connecting and getting to the decision maker, and successfully building the relationship

29 Resources

30 Action Steps 30 Register at Register with the SBA: Get Certified as WOSB or EDWOSB Get ready to build relationships!

31 Action Steps (Continued) 31 Learn their language! Practice your Introduction Statement (AKA: elevator pitch!) Create a powerful Capability Statement ( me for templates) Identify your top targets Federal agencies Prime contractors Teaming partners

32 Action Steps (Continued) 32 Search for opportunities Respond to Sources Sought Notices Contact decision-makers Ask for Capability briefing Repeat!!!!!! Bid, bid, BID!

33 Contact 33 Gloria Larkin President, TargetGov