5 Secrets to Generating Revenue During COVID-19
The global pandemic, COVID-19, has changed our world as we know it. With unemployment currently at 14.7% and growing, businesses in almost every industry are feeling the effects. US governmental agencies are one of the few organizations that will actually be spending more money in the coming months. More than $2 trillion in new federal spending have already been authorized — not including additional state and local expenditures. So, how do you get a piece of the profits to help your small business survive? By selling to them! These five little-known secrets can help you do it.
1. Gain Free Access to Government RFPs
GovQuote.us is a free online resource where government agencies post their request for quotations (RFQs), and companies can submit quotes electronically. Agencies can also complete awards in as little as days (if not hours). It takes 15 minutes to register your company. Once completed, you’ll begin receiving RFQs pertinent to your business. Contracts are being established daily — from medical to non-medical products — so the quicker you create an account, the sooner you’ll receive that first contract.
2. Put Your Product In Front of Your Buyer
This online Vendor Registry allows companies with products or services specifically needed to address the COVID-19 crisis to partner directly with agencies that need them. This information is distributed to agencies by GovSpend. You’ll enter your complete contact information and all of the products/services you provide related to the COVID-19 crisis. Once confirmed, the registered companies are considered viable government contractors and distributed to government agencies in need of those products/services. By joining the Vendor Registry, you’ll immediately receive access to the COVID-19 bid/RFP notifications — and receive updates on a daily basis. By registering your company, you’ll gain free access to all of the bid/RFP notifications in the system as they pertain to COVID-19 supplies and services. This will help you remain informed and competitive when sending out contracts.
3. Learn How to Win Government Contracts
GovSales University is offering a set of videos on “How to Win Your First Government Sale” with a federal, state, and/or local agency for free. Each video is available online, on-demand in the GovSales University portal. By creating an account, you gain free access to these videos and other resources to help you stay informed and learn how to adapt to this temporary but ever-changing environment.
4. Become a Competitive Government Contractor
If your company is an experienced government contractor and/or you are looking for a competitive advantage when pursuing government contracts, you should request a free demo of the GovSpend purchase order database. This proprietary database aggregates the purchase orders from local, state, and federal agencies — showing exactly what agencies are purchasing, who they are buying from, and what they are paying.
5. Make Some Influential Friends
The secret to successfully selling to a government agency is in the quoting. If you’ve never sold to the government before, you should partner with a flagship agency — someone that loves your company and offerings and will tell other entities to buy from you. The flagship agency can help you sell to different initiatives and increase media deployment. Soon, you’ll be selling in circles around the flagship agency, and increasing your profits. With availability for PPP and other government funding running dry, it’s crucial that you change your mindset from reactive to proactive. Using these resources can help you keep your small business up and running — even past the current pandemic.