HAPPY NEW YEAR! THREE THINGS TO FOCUS ON NOW AS FY’25 GETS UNDERWAY
Congratulations! You made it to FY’25. We hope FY’24 was a success. Your reward for a great last year is to crank up and get started for the year ahead. Here are three things contractors should focus on now to be prepared:
1. Work To Smoothly Start Awarded Contracts: There just isn’t going to be that much new business right now, so instead dedicate extra resources to making sure you launch existing projects well and get out in front of any potential management or fulfillment headaches. Past performance is an important evaluation point for getting future work and that performance starts now. Now is also a great time to have discussions about what might happen to that project in the event of a shutdown later this year or in early 2025.
2. Focus on Compliance & Ethics Training: The government is operating under a CR for the next 12 weeks. There won’t be any new project starts for that time, plus many of your federal contacts will take a well-deserved break. While breaks are a good idea for contractors too, it is absolutely essential for companies to use this time for important training on new rules that shape how you sell and what you must comply with. More rules = more ways to potentially get in trouble. No one wants to be the next company to welcome the FBI to their office.
3. Get Out and Network: We’ve said before that this time of year is about the best in terms of networking with both government and industry officials. Meet new people. Learn new skills. Become a more valuable asset to your company and enhance your career at the same time. There is at least one federal market-related conference every week between now and early December. Federal buyers, especially, like to do business with people who make an effort to see and be seen. Take the family to Hawaii at Christmas. Doing the important work now prepares you for another great year in government procurement and contracting.