TODAY’S BUSINESS, TOMORROW’S RULES & FUTURE BUSINESS: THREE THINGS FOR CONTRACTORS TO FOCUS ON RIGHT NOW

With the usual departures of people from key positions, the specter of a debt ceiling fight, and uncertainty over international events, there’s a lot to distract a government contractor right now.  As always, the key is to stay focused on the work at hand.  Here are three things that contractors should focus on now.

1.  Closing & Lining Up Current Business:  While this may not be the busiest time of year for federal buying, plenty of deals are getting closed now.  Agency customers should have their money by now and have plans on how they want to use it.  Any customer who says they don’t have their money may be giving you an “excuse”, not a “reason”.  Now is the time to close short term business and build a pipeline for business that will likely close this fiscal year.

2. Get Involved in Developing Regulations:  Right now is an exceptionally active time for the FAR Council, GSA, and other acquisition regulators.  The wide array of proposed or interim rules being developed WILL change the way you do business and will add requirements to your contracts.  Get involved and make sure you comment on these changes.  Make sure reg writers, and others, understand the potentially negative economic consequences of new burdens.  Either as a company or as part of an association contractors absolutely must ensure that their voices are heard now and understand how changes may impact them.

3.  Keep One Eye on the Future:  While most of a company’s focus should be on this year’s business, its an established best practice to keep one eye on the future.  There is currently uncertainty on FY’24 funding levels, even for DOD.  Long time contractors will recall that contract spending does not go up each year and can actually decline.  Allocate the resources you need in order to be prepared for today and tomorrow.