Individual federal offices will soon receive their official funding levels for the remainder of FY’24.  A lot of business will be transacted in a short amount of time.  Here are three things that contractors should focus on now to be prepared.

1.  Shift the Focus of Customer Discussions:  While many federal agencies have projects just waiting for money once the money comes it’s time to shift the dialogue from the theoretical to the practical.  Did the project actually get its anticipated money?  When and how will the customer move forward?  Now is the time to start having federally appropriate “closing” discussions with customers.

2.  Make Sure That Your Contracts Are Current and Ready:  GWAC and other IDIQ contract holders should ensure that their contracts are fine-tuned and ready to go.  Only a small window remains to add needed solutions.  Don’t plan on trying to add new line items overnight in August.  That is the time when IDIQ use soars in government procurement, but only for those who are already prepared.  Make sure that you are.

3. Establish or Strengthen Relationships With Socio-economic Partners:  We’ve said before that partnering with companies that have special socio-economic status is key to bringing in business.  That is especially true now when a lot of money needs to be obligated in a short amount of time.  Expect small business set-asides to soar as agencies look for a way to spend what they have by September 30^th.  Partnering with small firms can ensure that you get at least part of that market.  The pace of federal business will only accelerate as the temperature warms up.  Be prepared.