10 Days and counting
Congress has ten days to pass a budget for FY24. Right now, my guess is that there is no chance of this happening. The two parties and two chambers are very far apart on funding priorities and have shown an inability to collaborate on key decisions. So what happens?
There are only three paths here:
- Pass the budget - unlikely
- A second Continuing Resolution - gets the government through the holidays and buys some more time
- Government shut down - not desirable for any stakeholder
My guess is that there will be a second Continuing Resolution. It is a punt. The hard work still needs to be done, but this will delay action and give some time for discussion and compromise. The effects are stunted spending and unknown spending levels for agencies, which trickles down to Federal contractors. Everyone stays in limbo for another 45 days.
The money will be allocated, but the timing is in question. Some programs will see declines, but in the day to day picture, there are still needs. The goal now is to identify the most pressing needs and build the relationships to position your firm. This is why having your internal operations, registrations, and systems in order are critical. And, know what you are offering!
Building trust takes time. There is added stress of the unknown for federal workers, who may not be in the best frame of mind. But there are ways to take the first steps toward getting in front of future buyers.
- Ask for introductions from your existing clients
- Ask for introductions from your current teaming partners and colleagues
- Look for names on the procurement forecasts for those who buy your services.
- Look for names on program websites
The goal is to have a targeted list of people who are known to buy your offering and start the process of contacting them and gaining visibility. The fastest way is through introductions as you are then 'pre-qualified' as someone that is recommended and trusted. Work your network now. There are contracts being awarded. Some agencies have multi-year money (example: VA has 2-year budgets) while others have funds that are available under different authorities. Know your target and their spending abilities, then match that to your offering and ability to contract with your firm.
Keep going, despite what is happening in Congress. Everything will work out and the machine of Federal contracting will be in full effect soon enough. It is a timing problem that you and your business have no control over. So prepare, position, and network.
You'll have another 45-days of relative quiet time, so schedule a call with me at https://calendly.com/libby-coaching or at [email protected]. We'll get your house in order for when Congress gets the peoples' house in order!