» CLOSE « Strategist Offers Ways Small Businesses Can Profit From Stimulus Plan By DONABEL BELTRAN-HARMS (February 02, 2009) — With the $819-billion economic stimulus package proposed by President Obama approved by the House and already being deliberated on by the Senate, major players in industries such as alternative energy, manufacturing and infrastructure are preparing themselves for when the distribution begins. With a staggering amount up for grabs, everyone wants to be first in line. So who gets it first? Congress will ultimately have the final say. To facilitate the process of reviving the economy, big companies with proven track records in the business will surely be called upon. Where does that place small businesses, identified as crucial to generating new jobs, in the picture? Tom Searcy, CEO of Hunt Big Sales and co-author of "Whale Hunting: How to Land Big Deals and Transform Your Company," shares techniques on how small to medium-sized businesses can become visible elements in the picture, for these big projects. These are part of his patented business development process which has helped him secure over $2.2 billion in new sales for his company and its clients. Form a relationship. Any small to mid-sized business that's not already working directly with the government needs to find itself an experienced, credentialed industry player and build a relationship. Start this process by looking at the current top 100 government contractors. There will be a lot of request for proposals (RFP) and opportunities on which to bid in the marketplace, but in the end, familiar faces will get most of the money. It's up to you to become a familiar face to the government's familiar faces. Be a rock in the river. Position yourself in front of the flow of the money. You need to either provide those products or services that are used by the industries which will be given the financial stimulus, or to supply the companies that support those industries. Pieces and parts. Money will come in blocks and it will come in bits. Smaller contracts may mean better opportunities for small businesses. Create a system for evaluating opportunities and then apply your resources to those opportunities in which you have the greatest potential of winning. If you concentrate on all opportunities, you will likely end up with nothing. If you decide that you have a shot in several industries, diversify your partnerships so that you are in a position to win on several fronts. Sharpen your RFP skills. Government involvement and massive amounts of funds beg for a high level of oversight. There will likely be an RFP requirement for most opportunities of any significant size. Be sure your RFP skills are up to par. For a refresher on key strategies and tactics for landing a deal with an RFP, download the free eBook, "Landing Big Sales with an RFP" at www.huntbigsales.com. The day after tomorrow. Remember Blackwater, Halliburton and Madoff. At some point in the future, there will be scrutiny about the deeds done today. The RFP process is littered with pitfalls and unintended consequences, so be mindful of your partners and your processes while you are getting your share of the profits. Source: http://www.targetednews.com/disp_story.php?s_id=978244 (requires login) » CLOSE «