Articles tagged with : business development

Welcome to the new era of business development

Process is king in today's market, and that requires more investments in finding and chasing the right opportunities.

This article was originally published May 2, 2011 in WashingtonTechnology.com and features interviews with business development leaders, including Bob Lohfeld By Heather Hayes It’s no secret that there are fewer new opportunities in the government market, thanks to looming budget cuts and an increasing trend away from the use of new contract awards in favor of established governmentwide acquisition contracts. However, companies can increase their ability to compete and even boost their win rates and revenues if they invest in and optimize their business development and capture management processes and tools. “More companies are fighting for smaller pieces of business out here in the market, but those companies that invest and work hard to build and optimize their processes will do better in competition,” said Robert Lohfeld, CEO and founder of Lohfeld Consulting, a proposal services consulting firm, and a columnist for Washington Technology. “It’s a lengthy journey to creating...

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Pitfalls to avoid in a down market

Avoid chasing too many opportunities and rushing headlong into new markets.

With all the talk about budget cuts, we see some companies overreacting and altering their bidding strategies. Budget reduction numbers out of Congress indicate that 2011 spending will decline by $38 billion. According to Ray Bjorklund, senior vice president and chief knowledge officer at FedSources, the challenge is determining how many of those dollars are attached to contracts. “There’s spending, and there’s contract spending,” Bjorklund said. “A significant amount of the $38 billion is in government compensation loan programs, and subsidies and therefore not contractor-addressable.” The net authority that agencies have to spend on compensation and contracts — but not loans, grants or subsidies — in fiscal 2011 is $1.8 trillion, and it is this amount that was hit by the $38 billion in cuts. Although $38 billion is a large amount, it represents only 2 percent of the total spending authority. Meanwhile, reactive, quick-fix strategy changes can often be...

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3 Critical Steps to Surviving Tough Times

People, training, and technology are critical.

There's little doubt that the federal budget will undergo some contractions this year, either because Congress will reduce spending levels outright for some agencies or the inevitable flow of continuing resolutions will postpone approval for new spending levels. As budgets shrink, there will be fewer new contracts in the government contractor market. With fewer deals to compete for, contractors will need to raise their level of competitiveness to win their share. Now is the time to invest in new business acquisition, not scale back. Companies making investments in people, processes and technology will raise their level of competitiveness and, in the face of a tightening market, will win their share of new business. Companies failing to meet these new challenges will become casualties as they watch the market change and competitions become more demanding. Invest in people You can raise the level of competitiveness of your business development (BD), capture...

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