Discuss With An Agent To Know The Best Insurance Policies For You
In the United States and of course in most countries of the world, you cant operate a business without having some of the basic insurance policies that is required by the industry you want to operate from. Besides, the nature of the security industry requires that you have the proper insurance cover in place or else you will be forced out of business if anything goes wrong with the security contract you are handling.
So, it is important to create a budget for insurance and perhaps consult an insurance broker to guide you in choosing the best insurance policies for your private military company it is their duty to help you assess the risks involved in the type of security business you intend running and then advice you accordingly.
Here are some of the basic insurance covers that you should consider purchasing if you want to start your own private military company in the United States of America General insurance, health insurance, risk Insurance, payment protection insurance, liability insurance, Workers Compensation, overhead expense disability insurance and, business owners policy group insurance.
Warranty And Energy Efficiency Programs
New home warranties
If your business will be involved in the construction or sale of new homes or condominiums, you must be enrolled with the Tarion Warranty Corporation.
Contact the Tarion Warranty Corporation:1-877-982-7466Tarion Warranty Corporation – builders
Energy-efficient new homes
As a new home builder, you may be interested in the energy efficiency programs, standards and incentives offered through Natural Resources Canada to encourage energy-efficient homes. These include the EnerGuide Rating System, R-2000 Home Standard, Energy Star® and other grants and incentives.
Determine Products To Supply
Identify specific products and/or services needed by DOD that you can supply, then determine the contract to pursue from available opportunities. You can get current opportunities by entering search criteria at the Federal Business Opportunities website. In addition, you can get subcontracting opportunities from DOD prime contractors in your state. You can use SUBNet — a site managed by the U.S. Small Business Administration — to explore subcontracting solicitations normally posted by large prime contractors as well as other non-federal agencies.
Also Check: Government Funding For Mobility Scooters
Other State Contracting Opportunities
While NJâs Department of Treasury leads many of the Stateâs contracts, most agencies share opportunities or release requests for proposals for work unique to their agencyâs mandate. The list below links directly to each agencyâs page on contracting opportunities.
âThe State currently has two “set-aside” programs for contractors. Set-aside programs direct a percentage of State contract purchases to specific segments of the business community:
Also note that the State offers minority and woman owned business certification services. Certification provides state-backed documentation of your business status, which can be beneficial in pursuing contracting opportunities at the local and federal level, as well as in the private sector.
Protect Your Intellectual Property With Trademark Copyrights Patents
If you are considering starting your own private military firm, then you should consider filing for intellectual property protection. Filing for intellectual property protection for your firm is not only limited to your companys logo and other documents, and but also protecting of course the name of your company.
If you want to file for intellectual property protection and also register your trademark in the United States, then you are expected to begin the process by filing an application with the USPTO. The final approval of your trademark is subjected to the review of attorneys as required by USPTO.
Also Check: Government Mortgage Stimulus Program 2020
Obtain Past Performance Evaluations
If you want to get in on the lucrative General Services Administration contracts — and you should want to — you need to get a Past Performance Evaluation report from Open Ratings, Inc. Open Ratings conducts an independent audit of customer references and calculates a rating based upon a statistical analysis of various performance data and survey responses. While some GSA solicitations for bids do contain the form to request an Open Ratings Past Performance Evaluation, vendors may submit an online request directly to Open Ratings, Inc.
Consider Small Business Certifications
If you are a socially or economically disadvantaged business, you may benefit from obtaining 8 status. These certifications do require a formal process with a third party, but may create additional opportunities for you. In order to begin this process, you must first be registered in SAM, and then you can start the application process through the SBA . Once you obtain your certification, you will be able to compete for set-aside and sole source contracts. In addition, you will be provided resources such as a Business Opportunity Specialist to assist you in navigating the federal contracting landscape, opportunities to participate in mentorship programs, as well as management and technical assistance to assist with executive development. If you are interested in becoming certified, first complete the SBAs suitability assessment to see if you qualify.
Keep in mind that government contracting is a tough area to navigate alone. The criteria can be difficult to meetit can be hard to hold your own security clearance, for exampleso many independents find they have to go through vendors or integrators to secure contracting opportunities.
You May Like: State Of Ohio Government Nursing Jobs
Federal Government Procurement Programs And Resources
- beta.sam.gov — This site is the official source for Federal Government Contracting Opportunities. Anyone interested in doing business with the government can use this system to research active opportunities.
- The System for Award Management is an official website of the U.S. government. There is no cost to use SAM. You can use this site for FREE to:
- Register to do business with the U.S. government
- Update or renew your entity registration
- Check status of an entity registration
- Search for entity registration and exclusion records
- GSA’s Federal Supply Schedules also known as Multiple Award Schedules , are contracts that allow federal customers to acquire more than 4 million services and products directly from more than 8,600 commercial suppliers. Under the schedules program, GSA enters into contracts with commercial firms to provide supplies and services at stated prices for given periods of time.
- The Small Business Administrations Government Contracting Programs to assist small, woman, minority and veteran-owned and disadvantaged business owners obtain or increase government contracts.
Conduct Market Research And Feasibility Studies
- Demographics and Psychographics
Understanding who your clients are and how they make their purchasing decisions is very crucial for survival in this business.
For contracting business, your potential clients include all businesses operating within your local area, Federal, State and Local governments, home owners, as well as private individuals who are currently carrying out projects or have the potential to carry out construction projects in the nearest future.
The services that the government generally need contracting companies to carry out include construction and renovation of facilities including buildings, roads and other specialty projects, procurement of goods, offer of specialized services such as security, consulting and other specialized services.
Basically, government contracting services can be divided into goods, services and technical or research assistance. As for private individuals, contracts are majorly building contracts or service contracts. Home owners would typically need you to carry out construction, servicing or repairs within and around their private residence.
The needs of business clients are similar to those of the government. You would basically be required to carry out procurement services or offer technical or research services, only that this time, you would be offering your services to local businesses and not the government.
Don’t Miss: Government Websites For Health Information
Find Your Companys Naics Code
While its not absolutely necessary, chances are you will need to find your North American Industry Classification System code. NAICS codes classify businesses according to their economic sector, industry, and location. Depending on the products and services they offer, many businesses may fit udner multiple NAICS industry codes. When you register your business in the SAM database, be sure to list all of its applicable NAICS codes.
Register In The System For Award Management
The System for Award Management is a database of companies that are interested in government contracts, maintained by the U.S. government. Whereas a business customer in the private sector might come across your business on Google, LinkedIn, or some other search or social network, decision-makers at government agencies use SAM to identify potential vendors.
For this reason, small businesses looking to obtain government contracts should invest a similar level of effort into creating a compelling and search-friendly SAM profile as they would spend on SEO strategy or your companyâs LinkedIn profile.
To get started, your business will need to register as a government vendor in the SAM system. While your SAM profile must be updated at least once a year to remain active, firms committed to obtaining government contracts should update and refine their SAM profile at least quarterly, if not monthly or more.
Remember that although youâre pitching to government agencies, the decision-makers within those agencies are real people. Avoid the temptation to fall into overly technical and bureaucratic descriptions of your products or services. Working with a government agency doesnât require stifling the personality behind your brand!
Also Check: Keep Your Government Hands Off My Medicare
Get The Necessary Legal Documents You Need To Operate
The following documents are what you need to set up your contracting business in the United States:
- Business Registration and Incorporation documents
- Business Plan
- Occupational Safety and Health Administration Compliance Documents
- Housing and Urban Development Compliance Documents
- Environmental Protection Agency Compliance Documents
How Much Does It Cost To Start A Government Contractor Business
Wondering how much it costs to start a government contractor business?
- The minimum startup costs for a government contractor business: $62
- The maximum startup costs for a government contractor business: $35,923
- The average startup costs for a government contractor business: $19,267
Here’s a detailed list of a government contractor business startup costs:
Retail Business Expenses
If you plan to have a brick & mortar location for your government contractor business, you must weigh the costs of your rent, as it may be the most expensive part of running your business.
Rent costs for your government contractor business very much depends on your location. This cost will vary by both region and specific areas of town: a lease in the heart of Manhattan could cost over $80,000/month in rent. Meanwhile, a storefront lease in Florida or Tennessee could cost less than $1,000/month.
Don’t Miss: Get Free Phone From Government
Government Contracting: A Beginners Guide
Government contracting seem too complicated for your small business to try? Its a huge potential source of income, so dont be too quick to disqualify yourself. Heres what you need to know to get started in government contracting.
Acquiring a large, loyal customer base is essential for a business to run successfully and make a profit. However, have you ever thought about including the federal government as a part of your customer base? It seems like kind of a crazy idea upon first glance, but the U.S. government is the largest purchaser of goods and services in the world. That means that they put a lot of money into getting those goods and services: around $90 million in 2012 for small business alone.
Thats a huge source of revenue for your business, too big to pass up in fact. The government has interests in all sorts of industries, so dont think yours is automatically disqualified. They need goods and services from IT solutions to construction to janitorial work. Unless your company focuses primarily on sarcastic bumper stickers, theres probably a market for your industry.
First, register with the Systems of Awards Management through the Small Business Administration. SAM is basically a federal vendor database that enables government agencies to search and find businesses that can fulfill their needs. When registering with SAM, youll fill out information about your business, i.e. socio-economic status, location, size, industry, etc.
Within About Six Weeks She Had Her First Contract
Within about ten weeks she has two more contracts, so dont tell me wherever youre at in the process it cant happen because it can.
Are you ready to learn what its going to require from you to become a government contractor and win some contracts?
Im going to share with you the steps she had to take which are the steps you have to take. Im giving you the steps you need to implement, some things to consider, think about, some are to implement. You pick where youre at in the process and then you go from there.
Recommended Reading: An Fha Loan Is Insured By The Federal Government
Brainstorm Possible Ways To Retain Clients & Customers
Once you have the skills and your equipment ready, it is time to start sourcing for clients and most times based on your pedigree and past records, your clients will look for you. It is important for you to decide the category of military business you want to opt for. To create awareness for your business, you should develop a business proposal and send to likely clients. You should also consider opening a website.
The Next Thing Is Marketing To The Government
A lot of people skip this step. They just go from qualifying to work with the government to bidding contracts.
- They get registered.
- They apply for any certifications for which they qualify.
- But then they stop short and they dont do the marketing.
- Going out to conferences
Im talking about marketing your company letting people know:
- Who you are
- What your capabilities are
As well as bidding contracts right.
Once you have your marketing set up which is something you should always be doing you want to start bidding contracts, which is something you should always be doing as well. You can bid as a prime or as a sub. It depends on your capacity and the type of contract.
Any contract that you do bid, you want to make sure you have a chance at winning. Dont waste your time bidding on contracts that you have no shot at winning. This is something that I always preach to my clients. I teach them a better way, although everybody falls into that trap, you dont want to do that.
Actively Market Your Products To The Government
The government is just like any other customer while it would be difficult to target the government with an ad campaign, you can market your offering to different agencies. directly to a government agency or prime contractor by learning what the agency needs.
Many federal agencies have whats called an Office of Small and Disadvantaged Business Utilization or an Office of Small Business Programs . These offices work to identify opportunities to contract with small businesses, wrote the Small Business Administration. Each agency releases a procurement forecast that includes contracting opportunities for small and disadvantaged businesses.
Read the forecast and contact the agencys small business office to put your venture on their radar. Typically, offices will also host training and networking opportunities. Participate in events as much as possible to help the agency get to know your business. For more ideas, check out this resource from the FDIC, which provides guidance on marketing to the federal government.
Each agency releases a procurement forecast that includes contracting opportunities for small and disadvantaged businesses.
The Small Business Association
The Second Thing Is You Have To Look At Your Capacity
Where youre at currently in your business as youre going to start bidding contracts. What I mean by this is if youre just starting out realize youre gonna have to bid smaller contracts. Things that you can handle.
If youre starting a brand new business, you dont start with, oh in the next year I want to be making millions. The reality is thats not how it works. Is it possible? Maybe so. Is it the norm? It depends on some other things that I do teach my clients to do but ideally, thats not the norm.
Be realistic in your expectations of:
- What do you want?
- How fast you want it?
Based on your capacity:
- What can you handle?
- What type of experience you have?
You need to know your capacity to perform. For example, if youre just starting out, the government is not going to give you a six-figure contract and you have no past experience, its just not the norm.
Join Contract Teams To Avoid Market Penetration Easiest Government Contracts To Win
After a contract is awarded and the work share is divided up by the bid team, hard-working entrepreneurs still find their way to a sub-contract.
Doing Business Development
Some of the prime contractors bid partners invest incredible resources to do business development and help write the proposal. Following the award, they under-resource the transition and staffing of the contract.
Simply stated, they spend countless hours helping to win the contract and then neglect to hire the billable positions that will provide them profit!
Understaffed Contracts are the Most Overlooked, Easiest Government Contracts to Win
In some cases, a successful bid team member makes a business decision and walks away from their subcontracting responsibilities. While attempting to staff their positions, they realize they underpriced their positions and cannot make a profit by hiring people at their predicted salary. In either case, they leave the prime contractor with an understaffed contract.
On understaffed contracts, the prime contractors program manager is under a lot of pressure.
Identifying Contracts with Staffing Challenges
This strategy is simple.
Identify contracts with staffing challenges and then approach the prime contractors program manager with a stack of ready to work candidates.
For many program managers, you are an acceptable immediate solution to their problem. Although this is a simple strategy, it leverages two components that are difficult to identify.