"YAY 4 YOU"
SUE's Spotlight seeks to highlight for profits and non-profits that its members would want to do business with. Each month, the AB - Advisory Board highlights one or two businesses so they can also gain exposure.
If you are interested in being a featured business (for profit or non-profit) call our office at 908-587-8152 / or send an email to info@suenet.org
Edonie S. Mason, Esq. Managing Member Attorney & Arbitrator | Licensed: NY, NJ, FL Estate Planning & Wills | Entertainment | Business | Fashion | Arbitration
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Eldonie, has launched her Estate Planning workshop for those who would like to attend. The event is scheduled for:
Friday May 17, 2024 at 6:00 PM MH302-Marco Hall Boutique 29 Halsey St, Newark, NJ 07102 |
I love this Quote Stated by
Erika Lea Rothenberger
Home - Erika Rothenberger
Meaningful Connections
They say you are the sum of the people you spend the most time with – and in today’s fast-paced world, attracting the right people - and quickly - is gold! Erika is an expert connector who has trained audiences on reducing fear, elevating confidence and engaging more freely in authentic conversations. Creating POWERful opening lines is where it starts; you will also learn 5 signature questions to create conversations with ease. If you are READY to have meaningful connections with others and attract meaningful relationships into your funnel, this is for you
Teaming Up For More Opportunities
Teaming with other companies and organizations can be tremendously beneficial in many ways for small businesses. For example, when you have a larger (or more experienced) teaming partner as your subcontractor, you can expand your capacity and geographic footprint, enhance your team's past experience and past performance, get assistance with proposal writing, increase your financial capability to fund awarded contracts, and increase your bonding levels (when applicable).
However, you don't have to be a prime contractor to benefit from teaming. An often overlooked aspect of teaming is the greater number of opportunities your firm may be able to access as a subcontractor. In this tip of the month, we discuss three types of entities you should consider teaming with as a subcontractor to potentially increase the number of opportunities you can pursue and win.
Entity 1: Large Prime Contractors. Large prime contractors well positioned in the government marketplace enjoy a steady flow of opportunities. In many cases, the government also requires these large primes to have subcontracting plans with specific goals and a plan to maximize opportunities for small businesses. However, even without a subcontracting plan, most large primes have plenty of subcontracting work to go around.
Entity 2: Other Small Businesses. Teaming with other small businesses can give you access to set-aside opportunities in socio-economic categories where you don't hold a certification such as 8(a), Women-Owned, Service Disabled Veteran Owned, HUBZone, etc. In this challenging economic climate, you can expect to see more set-asides as the federal government seeks to support and sustain small businesses. Furthermore, you may find that it's easier to team with other small businesses whose owners and managers are more open to connecting and discussing teaming opportunities.
Entity 3: Non-Profits. Many contractors overlook non-profits as a potential source of subcontracting opportunities. However, non-profits receive a good portion of the government's annual spending through grants and contracts. Besides, in many cases (but not all), for-profit firms can't go directly after grant opportunities and, therefore, need to team up with a non-profit to get a share of the grant funding.
The bottom line is this: You may find many more opportunities coming your way if
Teaming with other companies and organizations can be tremendously beneficial in many ways for small businesses. For example, when you have a larger (or more experienced) teaming partner as your subcontractor, you can expand your capacity and geographic footprint, enhance your team's past experience and past performance, get assistance with proposal writing, increase your financial capability to fund awarded contracts, and increase your bonding levels (when applicable).
However, you don't have to be a prime contractor to benefit from teaming. An often overlooked aspect of teaming is the greater number of opportunities your firm may be able to access as a subcontractor. In this tip of the month, we discuss three types of entities you should consider teaming with as a subcontractor to potentially increase the number of opportunities you can pursue and win.
Entity 1: Large Prime Contractors. Large prime contractors well positioned in the government marketplace enjoy a steady flow of opportunities. In many cases, the government also requires these large primes to have subcontracting plans with specific goals and a plan to maximize opportunities for small businesses. However, even without a subcontracting plan, most large primes have plenty of subcontracting work to go around.
Entity 2: Other Small Businesses. Teaming with other small businesses can give you access to set-aside opportunities in socio-economic categories where you don't hold a certification such as 8(a), Women-Owned, Service Disabled Veteran Owned, HUBZone, etc. In this challenging economic climate, you can expect to see more set-asides as the federal government seeks to support and sustain small businesses. Furthermore, you may find that it's easier to team with other small businesses whose owners and managers are more open to connecting and discussing teaming opportunities.
Entity 3: Non-Profits. Many contractors overlook non-profits as a potential source of subcontracting opportunities. However, non-profits receive a good portion of the government's annual spending through grants and contracts. Besides, in many cases (but not all), for-profit firms can't go directly after grant opportunities and, therefore, need to team up with a non-profit to get a share of the grant funding.
The bottom line is this: You may find many more opportunities coming your way if
- You know where your business has the best fit (think subcontracting),
- You know where the money is flowing to the companies in your industry,
- You proactively build relationships with other businesses, and
- You can make your partners better and more competitive.
Just Remember
