It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so. –Mark Twain Determining if there is actually a business opportunity for our company is the first step in business development (BD). The government competes thousands of procurements each day, and not all of them are suitable for our company to bid. Picking those that are a good fit—and turning down those that are not—is one of the most important decisions we can make in winning government contracts. We can use multiple approaches to identify potential opportunities. Key parameters such as historic buying patterns, projected industry trends and demands, and revenue and market share can help shape our understanding of future opportunities. We can use personal relationships (current and former clients, retired agency personnel); hire marketing consultants; use agency forecasts or research services (e.g., Deltek); and conduct primary research (agency … Continue reading 4 Major Elements of Qualified Business Opportunities →