Happy New Year FY24?

Second Toast: Business Owners

Government Fiscal Year 2024 is going to start with....... a whimper. The Federal government avoided closure with a last day Continuing Resolution. But during a C.R., new projects and spending are very limited. For contractors, it is a time to get in order for the full budget. So what does a savvy business owner like you do at this time? Get ready.

The performance of your firm during the last quarter of FY23 is an indication of where there are gaps in your preparedness.

• How did you fare with year end spending?
• What can be done to improve the quality, capacity, and timing of your proposal cycle?
• Where are the areas that you firm lacked experience and past performance in the opportunities you pursued?
• Which colleagues, teaming partners, industry contacts, etc. have you not touched base with for a while?
• How did your personnel handle the year end tasks assigned? Is there training needed?
• How was the process of providing financial statements executed and are you in compliance with accounting requirements?
• When was the last update on all of your registrations, annual certifications, marketing materials, anything outward facing?

These are a few questions a GovCon business owner can contemplate in this relative quiet time. They will give clues about where to focus efforts to shore up operations and get the company ready to capture opportunities and position itself within its desired sector.

As the business owner, you set the tone. You lead the way. You are the one responsible for the success or shortage of new revenue sources. So as long as there will be time while Congress grandstands, take it and do some of the internal work that seems to get pushed aside. Pick the area that most visibly curtailed your growth or stability efforts and dive in. Get your team on board and delegate what can be delegated. The goal here is to knock off some of the items that are holding your company back in rush times and setting up your processes for ease of execution going forward.

You have time. Clearly you are not doing a lot of GovCon work right now. Reach out. I will help you identify, plan, execute, and monitor actions to get you set for when the government reopens and on-going. Take the first step. https://calendly.com/libby-coaching or [email protected].