Big Mistakes That Small Companies Make
Lots of small companies attempt to grow too big too quickly. Small businesses are resource constrained. Stick to your knitting and do just what you do best. Not even large companies attempt to be all things to all potential customers.
High order volume can swamp small company quality control safeguards. Remember, your reputation is built on the quality of the item that you ship. After the order volume increases, ensure that the quality control, the tools and the processes match the rise in production.
Workplace politics and workplace dynamics can hurt productivity. Small companies especially can become married to the status quo. Don’t be afraid to make policy, task assignment or employment changes that are in the best interest of the enterprise.
Avoid these three common mistakes and your business can grow.
NOW, Here are 5 Steps to Winning the Right Government Contracts:
Hire an established business development leader and enable her/him to execute a planned procedure. Do not fool yourself by providing a junior person in your team the name, and expecting that person to miraculously know what to do. You are setting them and your company up for failure. Would you employ your plumber work on your car engine? Can you have your plumber fix the kitchen sink leak?
Step #2. Seriously examine how well it matches your corporate capabilities to the marketplace opportunities. Are you targeting the ideal agencies based on your skills? Are you honest with yourself on what you’re excellent at doing?
Step #3. Develop and execute capture plans for each’Must-Win’ opportunity. If you lack a certain expertise seek a partner with that ability and recruit that business to be part of the team. No reason why you should not.
Step #4. Develop corporate capabilities and strategy features that favorably discriminate you from the competition. There’s loads of’me-too’ companies out there. Figure out product or service enhancements which will set up apart. Otherwise, you’re in a commodity market.
Step #5. Establish the cost to win — then adjust the solution to fit the price. Just as everyone wants to hit a home run with the national government, possibly getting the double is not only the ideal approach, but the only workable one. Be real. Be reasonable.