Government agencies & contractors prepare for fiscal year end
On the contracting side of things, industry is also bracing for the Q4 spending rush. Government Matters assembled a panel of industry experts for their perspectives and advice for those looking to get a piece of the pie.
Angela Styles, Partner at Bracewell, LLP—
“The government buys all year around. Get out there, get what you can right now. There is 160 billion dollars still to be spent in the next five weeks. Hone in on your strategy. Pick the best opportunities and start looking forward to the next fiscal year.”
Bob Lohfeld, CEO of Lohfeld Consulting Group—
“What we see are two risks. One is that because there’s so much deal flow, clients, companies tend to jump on every deal that comes by. We advise to maintain a solid bid criteria. Pick the deals that you can win, don’t pick deals to chase. The other risk is that they just exhaust everybody who is in this business acquisition queue. It’s the proposal talent, the contracts people, the pricing people. Everybody is working to exhaustion… expect an uptick for sure.”
Larry Allen from Allen Federal Business Partners—
“There is such a thing as bad business… if you get a phone call from a company that you’ve never heard of, if you are a buyer or even a government agency, that says ‘I can do this for you in 24 hours’ or ‘I’ve got to have your partnership within the next 8 hours,’ that’s time to think twice. You’ve spent a lot of time building up your business and your reputation for your past performance. Don’t throw it away on a fly by night deal at the last minute because it sounds good… If it sounds too good to be true, it is.”