The importance of Capture Management in Federal Business Opportunities
The ultimate goal of every powerful enterprise is to win new business opportunities; in this case, it means to become a Federal contractor by winning more prime contracts. Yes, it’s as simple as that. However, the process behind this objective is not so. The initial step in competing for government procurements is to identify the right opportunity to pursue. Every potential contractor for a specifically targeted business opportunity strives to organize the work appropriately to accomplish their goals.
Capture Management is about finding the resources, conducting intelligence and developing action-oriented win strategies. For a carefully thought and integrated process that communicates value, your capture team needs to use best industry practices. The main purpose of the process is to position the Federal agency that is acquiring the services to prefer your solution over all your competitors’.
Many companies underestimate the importance of investing time and effort in the capture process to go ahead of the RFP release. Considering our experience in the capturing process, we have strong reasons to believe that its effect on the result of your proposal is crucial. Therefore, we strongly recommend you to start your preparations before the solicitation release, and continue it until the submission of the final product.
Effective Practices for Effective Results
A great management strategy is a comprehensive plan that includes proposal strategies, pricing, teaming and about a soothing conversion from lead, business to proposal development. It comprises the planning of each development phase.
With a persuasive capture solution, you’ll be able to prove your business capabilities and provide enough evidence that your business is capable of performing the contract’s scope of work. It will also help you in the future Federal Opportunities you might want to compete for; therefore, win and retain more contracts in the government marketplace.
Using effective practices in your capture management plan will help you assess the advantages and disadvantages of an opportunity against the health of your business. A comparison between the current contract you’re working on, and your past experiences will help you determine in which disciplines you’re lacking success. Thus, you can use the best competitive intelligence practices to identify appropriate solutions to provide a competitive advantage. Following the famous saying says “Simplicity is the ultimate sophistication”, we will suggest you some simple capture practices that will give improve the efficiency of your response.
When in the process of tracking and qualifying leads, it is very important to establish communication with your customer. Knowing what the decision makers really want will help you prepare an adequate solution. However, don’t forget your business objectives by trying to satisfy the requirements of your customer. At the end of the day, your profit is the main reason you’re competing for this procurement.
Many companies have more than one opportunity in their pipeline. Keeping your information up to date and tracking your progress will help you make the right decision about the opportunity worth to pursue. Furthermore, it will also impact the quality of your proposal once you decide to give it a go.
You’re aware that you’re not alone, right? Think of your competitors as a resource, as a referencing point to weigh your potential when trying to enter the federal marketplace. Previous or current government contractors can serve you to gain knowledge about how your targeted agency expects you to perform the job.
Knowing what to ask is essential, but you also need to have a process appropriately positioned to ensure valuable answers. Only an accurate capture process will allow you to win a pursuit.
Use your data wisely
In order for a project to result successful, the theory must follow the practice. Make a good use of the data you’ve collected, intelligence and provide your proposal team with the right resources to prepare a winning proposal. This is the simplest formula to win more business opportunities in the arena of government procurements.