November is full of fun, fall activities for you and your loved ones to enjoy together. As it gets a little cooler and the days start feeling shorter, it’s time to start preparing for the holiday season. Thanksgiving is right around the corner, the perfect time to make memories with family and friends, and to remember what you’re thankful for.
Thanksgiving weekend is very popular across the U.S. with 88% of Americans expected to have turkey this year. How much is spent on dinner? Well, consumers are expected to spend close to $927 million on turkey alone, up from $783 million spent last year.i Black Friday and Cyber Monday are two other popular activities that take place the same weekend. In 2020, shoppers spent a total of $14.13 billion on Black Friday and Thanksgiving combined, approximately $5 billion on Thanksgiving and $9 billion on Black Friday. Cyber Monday also racks up a lot of sales with shoppers spending a record of $10.8 billion in 2020.ii As much as consumers spend on Thanksgiving, we can’t forget that the government also spends money on Thanksgiving activities, as well as other fall and winter projects that you may be able to get involved in. It’ll be interesting to see how this year pans out, so get ready to stuff yourselves with good food and new business opportunities.
As we come together and ask ourselves what we are thankful for and how we can become better for ourselves and for our families, it’s also important to think about your business too. How have you been performing this year? Are your profits up? Have you reached your goals? What can you improve? Are you winning more government bidding opportunities? All of these are valid questions to ask when running a business. Especially if you do business with the government, you want to keep asking these questions to continue pushing your business to exceed the goals you’ve set for yourselves. The holiday season brings many new bidding opportunities that may be for the products and services your business sells.
Below, we’ve put together five important questions to ask yourself when preparing your business to bid on opportunities this holiday season.
Question 1: Is the government interested in what I sell?
Every year the government spends trillions of dollars buying products and services to fulfill various needs, whether it’s simple supplies for an office, catering, school supplies, construction projects, or even special holiday goods and services. And that’s where your business comes in. With the government buying a wide variety of different products and services, there’s a high chance they will be interested in what your business provides. And keep in mind there are thousands of different bid opportunities across the nation, issued every year for many different industries. If the government currently buys similar products or services to what your business sells, a great way to stand out is to show how your product is more innovative or durable, or that you can offer a lower price for the same or higher quality. There is also the advantage of being a certified small or disadvantaged business, as some opportunities are set-aside specifically for these types of entities.
Registered vendors on bidnet direct have the option to advertise their profile to participating buyers and can attach one-pager sell sheets, a company video, and more. These are just a few examples of how to get your business noticed by government agencies and show them what you can provide.
Question 2: Should I find bid opportunities in multiple states?
If your business currently bids in only one or two states, you may want to figure out if you can expand your business into other territories. There are many benefits to bidding in multiple states, or even all 50 states if you have the means to do so, such as:
- You’ll make more connections
- You’re likely to win more contracts
- Your annual profits can increase
If you can expand into more states, using a bidding service can help you to find multiple bidding opportunities across the country. bidnet direct offers vendors different package options that gives access to bid opportunities in multiple states. Remember to keep in mind that before you start bidding in multiple states, you must be able to deliver the products and services being requested so you don’t risk termination of your contract.
Question 3: Have I updated my NIGP codes?
Registered suppliers on bidnet direct have the ability to receive matching solicitation alerts to their email from participating buyers. So, make sure you’re up to date with your NIGP codes and that you select the right ones that match with what your business sells. You can also refer to your NIGP codes when searching for bids by keywords. Knowing your business keywords will help narrow down your bid search further, directly connecting you with the bids you want to see. If your business provides food catering services or holiday lights products, searching keywords like “catering services”, “banquet” or “Christmas lights” might be helpful in finding matching bids for the holidays.
Question 4: Am I taking advantage of federal, state, & local bids?
If you’re currently only bidding on state and local bids – or just federal – you may want to consider bidding on opportunities at all levels of government if it makes sense for your business. This will allow you to receive a higher volume of bid opportunities and will likely improve your chances of winning more contracts and making more connections for future contracts. With the government awarding trillions of dollars in contracts a year, you don’t want to miss out on all these lucrative opportunities for your business.
Question 5: Am I finding matching bids efficiently?
If you’re spending hours searching through multiple avenues to find bid opportunities that match with your business, you could be wasting valuable time that would be better spent on writing winning proposals. The best way to find matching bids for your business efficiently is to use a government bidding service, like bidnet direct, that helps you find targeted bids from all levels of government and sends them directly to your inbox daily. In many cases you can also view closed bids and previously awarded bids which can help you model your next proposal when bidding on something similar. You’ll have more time to review documents, ask the agency questions, come up with a competitive bid, and potentially win more contracts when you bid more efficiently.
Stay hungry in finding business opportunities
As the holiday season approaches and we get ready to fill our bellies with food and share laughs and memories with family, it’s important to take a step back and be thankful for what you have both personally and professionally. In the business world, asking questions is a great way for your business to grow and reach new goals. If you’re involved in government bidding, asking yourself these five questions will help you better position your business to start getting the most out of doing business with the government. Keep in mind during the next few months there will also be new bids issued for holiday activities and winter projects for your business to bid on as well. And remember there are thousands of bid opportunities out there already for all types of businesses, large or small, so keep your hunger for achieving great things and start winning those contracts.
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