How To Use Sam.Gov To Win $40K (Beginners Guide)
Summary
TLDRDr. KY Parks shares a strategic approach to winning government contracts through sam.gov, emphasizing the importance of responding to 'sources sought' notices, which are similar to requests for information. Although these notices do not guarantee a sale, they serve as a marketing tool and can lead to opportunities like the $40,000 contract awarded to Dr. Parks by the National Science Foundation. The speaker advises a 90/10 rule, where 90% of business development efforts should be spent on active solicitations, while 10% are allocated to sources sought notices. Parks also suggests following up on responses and engaging with small business representatives to increase the chances of securing contracts. The summary highlights the need for a balanced approach, leveraging both active solicitations and sources sought notices to maximize contract opportunities.
Takeaways
- 📌 Utilize sam.gov for free access to contract opportunities without needing to log in.
- 🔍 Use the 'sources sought' search feature, which is similar to a request for information, to understand what the government is potentially interested in purchasing.
- 🛒 Consider the '90110 rule' where 90% of business development efforts should be spent on active solicitations, while 10% can be allocated to responding to sources sought notices.
- 📢 Responding to a sources sought notice is akin to handing out a flyer; it provides information but does not guarantee a sale or contract award.
- ⏳ Follow up is crucial after responding to a sources sought notice, treating it as an RFP and maintaining contact with the relevant point of contact.
- 📈 Responding to sources sought notices can increase the chances of a potential RFP being set aside for small businesses, including those owned by women, veterans, or individuals with disabilities.
- 💡 Small businesses often miss out on opportunities by not responding to sources sought notices, which can lead to contracts being awarded to larger businesses.
- 📋 Keep track of all sources sought notifications and follow-ups using a system like a Google sheet for easy reference and organization.
- 📞 Reach out to the small business representative associated with a particular agency for assistance in getting your proposal in front of the decision-makers.
- 💼 Having a GSA schedule or being a certified small business can increase the likelihood of a sole-source contract award if you meet the requirements.
- 🚫 Be cautious not to spend too much time on sources sought notices as they do not always result in a purchase, and revenue generation should be the primary focus.
- 📚 Invest in learning and using strategies and systems to improve the chances of winning contracts, such as those shared by Dr. KY Parks, who has experience with over $50 million in government contracts.
Q & A
What is the purpose of using sam.gov for contract opportunities?
-Sam.gov is a platform that allows businesses to access government contract opportunities for free without the need to log in. It helps businesses to find potential contracts and respond to requests for information from the government.
What is a 'sources sought' notice and how is it similar to a request for information?
-A 'sources sought' notice is a type of announcement similar to a request for information. It's used by the government to gather information from industry experts before making a purchase, much like how a consumer might research before buying a television.
What is the '9010 rule' mentioned in the script and why is it important?
-The '9010 rule' suggests that businesses should spend 90% of their business development efforts on active solicitations and only 10% on sources sought notices. This is because sources sought notices do not guarantee a sale or contract, whereas active solicitations are more likely to result in actual business.
How does responding to a sources sought notice potentially lead to a contract?
-By responding to a sources sought notice, a business provides the government with the information they are seeking. This can put the business on the government's radar and potentially lead to a contract if the government decides to set aside the opportunity for a particular type of business, such as a small business.
What is the advantage of having a GSA schedule when responding to a sources sought notice?
-Having a GSA schedule can increase the likelihood of a business being considered for a sole source award. This is because the government may be able to directly award work to a business with a GSA schedule, simplifying the procurement process.
Why is it important to follow up after responding to a sources sought notice?
-Following up after responding to a sources sought notice is crucial because it keeps the business top of mind for the government agency. It also provides an opportunity to establish a point of contact and further discuss how the business can meet the agency's needs.
What is the significance of setting up a capability brief after responding to a sources sought notice?
-A capability brief showcases the business's expertise and past performance, positioning it as a preferred vendor for the government. It helps to reinforce the business's ability to deliver on the requirements outlined in the sources sought notice.
What is the 'HUBZone' and how does it relate to the sources sought process?
-HUBZone stands for Historically Underutilized Business Zone. It is a government program that helps small businesses in urban and rural areas gain preferential access to federal procurement opportunities. The script mentions that the sole source threshold of $4.5 million applies to HUBZone businesses, among others.
Why is it suggested not to spend more than 10% of business development time on sources sought notices?
-The suggestion to limit time spent on sources sought notices to 10% is due to the fact that these notices do not guarantee a purchase or contract. Businesses need to focus the majority of their efforts on active solicitations, which are more likely to result in revenue.
What is the role of the Small Business Representative (SBR) in the context of sources sought notices?
-The SBR is associated with a particular agency and can assist businesses in getting their responses to sources sought notices in front of decision-makers. They can help ensure that a business's interest and capabilities are communicated effectively to those who can award contracts.
How can a business track the sources sought notices they have responded to?
-A business can track their responses to sources sought notices by creating a Google sheet or using another form of tracking system. This allows them to keep organized and follow up on opportunities in a timely manner.
What is the speaker's name and what is their background in relation to government contracts?
-The speaker is Dr. KY Parks, who has over 10 years of experience in the space of government contracts and has been awarded over $50 million in federal government contracts. They are offering advice on how to effectively bid and win contracts.
Outlines
📈 Winning Contracts with sam.gov and the 9010 Rule
The speaker explains how to use the sam.gov platform to secure contracts without logging in or needing a cage code. They introduce the concept of responding to 'sources sought' notices, which are similar to requests for information, as a way to market to the government. The speaker emphasizes the importance of following the 9010 rule, which suggests focusing 90% of business development efforts on active solicitations and 10% on sources sought notices. They share a personal success story of securing a $40,000 contract with the National Science Foundation after responding to a sources sought notice and following up effectively. The paragraph also highlights the value of making the government's job easier by providing clear and concise responses to requests and the potential benefits of being included in set-aside contracts for small businesses.
🚀 Maximizing Business Opportunities with Strategic Responses
The speaker delves into strategies for responding to government requests and the importance of following instructions provided by the government for responses. They discuss the benefits of having a GSA schedule and being a set-aside contractor, which can increase the chances of sole-sourcing opportunities. The paragraph also addresses the misconception that responding to a sources sought notice guarantees a purchase, comparing it to handing out flyers for marketing with no certainty of sales. The speaker advises against focusing too much on sources sought notices, instead advocating for a balanced approach with 90% of efforts on active solicitations. They also suggest tracking responses and following up with capability statements to stay top of mind with potential clients. Additionally, the speaker recommends reaching out to small business representatives for assistance in getting in front of decision-makers.
🌟 Final Thoughts and Resources for Success
In the closing paragraph, the speaker expresses admiration for the audience and encourages them to keep pursuing their goals. They reiterate the importance of focusing on active solicitations and implementing effective strategies and systems to win contracts. The speaker, Dr. KY Parks, introduces themselves as an experienced professional with over 10 years in the field and over $50 million in awarded federal government contracts. They offer resources such as a book and a Facebook group to further assist individuals in their contracting endeavors.
Mindmap
Keywords
💡sam.gov
💡Contracts
💡Source Sought
💡90110 Rule
💡Active Solicitations
💡National Science Foundation
💡Set Aside
💡GSA Schedule
💡Capability Statement
💡Small Business Representative
💡Sole Source
Highlights
Using sam.gov is a free way to find contract opportunities without needing to log in.
A controversial approach to responding to 'sources sought' notices led to a $40,000 sole source contract.
The 9010 rule suggests responding to 10% 'sources sought' and 90% active solicitations for business development.
Government's 'sources sought' notices are similar to a request for information, akin to researching before purchasing a product.
Responding to 'sources sought' notices can lead to set-asides for small businesses, increasing contract opportunities.
Small businesses often don't respond to opportunities, leading the government to award contracts to larger businesses.
A past response to a 'sources sought' notice resulted in a call from the National Science Foundation with a new opportunity.
Following up on responses to 'sources sought' notices is crucial, as it keeps vendors top of mind for future opportunities.
Having a GSA schedule can increase the likelihood of a sole source award if a set-aside is possible.
Even after a 'sources sought' notice, vendors must continue to monitor opportunities on sam.gov for any updates.
Creating a tracking system, like a Google sheet, can help manage responses to 'sources sought' notices and follow-ups.
A capability brief can help position a business for a sole source award by showcasing past performance and potential solutions.
The $4.5 million sole source threshold applies to HUBZone, women-owned, veteran-owned, and small disadvantaged businesses.
Dr. KY Parks has over 10 years of experience and over $50 million in awarded federal government contracts.
Reaching out to the small business representative associated with an agency can help get in front of decision-makers.
The majority of business development efforts should be spent on active solicitations rather than 'sources sought' notices.
Dr. KY Parks offers a book and a Facebook group to help individuals win contracts faster.
Strategies and systems can be put in place to increase the chances of winning contracts consistently.
Transcripts
I'm going to show you how to win
contracts using sam.gov which is free
and you don't even need to log in to
access I'm also going to cover an
approach that some may say is
controversial who knows I'm going to
leave it up to you but I can tell you
this much that approach led to a $40,000
Soul source to us you end up going to
sam.gov contract opportunities advance
search you don't need to log in you
don't need a cage code you just simply
follow these easy steps under notice
type you select a sources sought this is
very similar to a request for
information so think about maybe the
last time you purchased a television
maybe it went online maybe it was for a
special event you probably did some
research before purchasing the
television the government is doing the
same thing however I strongly encourage
following the 9010 rule which may or may
not feed into to or not feed into this
controversy over source of s when you
respond to one of these which I'll talk
about in a second it's like handing out
a flyer that's great you from the
business perspective you're handing out
the flyer from the client perspective
they're telling you this is what we may
want to buy a source of saw does not
mean they are buying these things you
can see that there are over 3,000 that
are out there if we drill down by date
and change it to 3 months it lowers it
to a little under 1,300 one of the main
purposes for putting out a source saw is
to receive information from us industry
we are the experts no different than
when you're looking for a TV maybe you
went on Amazon or Google reviews or you
asked a friend who knows very similar
approach however when you hint out a
flyer does that lead to a sale it's a
piece of marketing material that's a
exact same thing what the sources saw
when you respond you're giving them the
information that they're asking for but
it doesn't mean that they're looking to
buy so that is why I suggest responding
to these 10% of the time because if you
don't have sales you don't have a
business you don't even have a hobby you
have nothing in order to get sales you
must respond to active solicitations but
let me share with you how this can lead
to a sale like it did for us with the
National Science Foundation so let's
just take this random
the government is not only seeking the
information from us the vendors and
you'll notice it's not set aside they're
also trying to determine are there two
or more similarly situated businesses
who can provide the product or the
service meaning if two women-owned
businesses respond the government deems
hey you met the requirements for what
we're asking for you are competent they
could take this opportunity and
hypothetically set it aside for women
own business bus I've also been told by
variety of government employees that
often small businesses don't respond to
these opportunities leaving them no
choice but to award it to a big business
or leaving it full and open full and
open means Lo he Martin Ron SpaceX can B
on it so what's great about responding
to these sources saw notices is it
increases the opportunity that the
potential RFP is set aside for some type
of small business now let's take
National Science Foundation we had
responded to an opportunity for a
completely different agency and it was
for a variety of training and
development responded heard nothing
followed up which you should do when you
respond to these sources s you want to
respond as if it is an RFP and you want
to follow up with a point of contact
within a month of doing so so we
responded no response kept it mov
because of the 9010 rule 10% on source
of Sal 90% on solicitations WE fast
forward few months go by and I received
a call from a woman with the National
Science Foundation and she said look you
worked at an agency where your company
responded to a source of s and I've
never forgotten about you and we have
this opportunity with NSF I'm newly here
and we want you to respond to the market
research no different than if you you
told a friend hey I'm looking for a TV
oh you're looking for a TV you know go
to Best Buy Inc they have the best TV
for you just talk to my friend William
he's going to hook you up very similar
so I was like oh my gosh this is great
so she sent me which is equivalent to a
sourcea notice also known as market
research we responded and we were
awarded a
$40,000 contract now while this is
amazing we really haven't received many
other opportunities through sources saw
notices with the exception of what I'm
about to share with you so get ready the
government likes easy so if you're able
to not only provide what they're seeking
for and they give you instruction this
is how we want you to respond they make
it very very simple they have
attachments point a contact you can ask
Justin a variety of questions because
they like easy if you have a set aside
especially an AA or you are a super AA
chances are that can increase the
likelihood of the opportunity being sole
source to you if you have a GSA schedule
you mention that in your response
because chances are the work can be sole
source to you because what happens is
you have experts out there who say yes
respond to this source's sought because
the more that you do you have they're
going to set it aside got it I even just
said that however Comma just because
they posted a source of s notice doesn't
mean they're going to buy it so you
don't want to respond to more than 10%
in terms of your business development
High because they may not even purchase
these Fair Bank Trail maintenance
improvements they may instead take this
opportunity and Roll It on an existing
contract they may say you know what
actually we don't have the money in the
budget for this so if you're spending
all of this time just handing out flyers
handing out flyers responding to source
of salt you need Revenue coming in so
that is why the 90% of the time should
be spent on actual solicitations the
other thing is there may be times where
they say yes we have competent companies
we have small businesses this is amazing
we have our small business goals we're
going to set this aside as a small
business set aside perfect but how are
you notified that they've done this you
still have to go back on sam. goov you
still have to track it and one of the
best ways to track is you just create a
Google sheet like this if you want to
buy or invest in an expensive you know
client relations management tool or hey
if you want to write it down whatever
works for you so here you put all the
information that you desire and this way
you're able to track the different
sources saw notifications because
especially with sources saw the key is
Not only just responding not only just
finding them not only being excited but
the followup because you then want to
request a capability bre brief so then
the FBI Aviation Support Services put
you top of mind because you've provided
your capability statement you've set up
a capability brief and you're going to
go over how you've helped people the
situation action and results that you've
taken and how you're going to be able to
do the same for them because what you
want is for them to want to Soul Source
it to you however comma the soul Source
$4.5 million ceiling applies to HUB
zones woman own veter AA super AAS so
that is why again you only want to focus
10% of your energy toward these or your
back to hope I hope somebody takes my
flyer and buys I hope I hope somebody
loves my source of Saw and and gives me
some money or an award like what KY had
I would love that I would love for that
to happen too it's a beautiful thing
it's a blessing but I want you to
understand how these sources sought
notice or request for information or
market research plays out in the greater
scheme of things
another bonus strategy what you can do
is also reach out to the small business
rep associated with this particular
agency and say listen I'm interested in
this opportunity I've responded to the
source ass salt notice here's a copy is
there any way you can help me get in
front of the customer you want to get
that flyer to Jeff bezos's Beyonce
cardiy it's like how can you get that to
the decision maker and there are small
business reps who love to be able to
help in these type of situations while
sources thought notices are an amazing
marketing tool and yes we walked away
with a $40,000 contract with National
Science Foundation we spend the vast
majority 90% of our BD efforts are on
active solicitations whether it's
through one of our two contract Vehicles
sam.gov
collaborations different collaborations
with my mentoring students and in case
you're like who is this with the pop and
curls my name is Dr KY parks and I've
been in this space for well over 10
years and been awarded over $50 million
federal government contracts and I'm
just here to help you find Bid and Win
faster than anyone else so with all that
said please pick up a copy of my book
winnway book.com join my Facebook group
don't give up you can easily and quickly
win a contract but to do it again and
again and again and to ensure you're
putting your time and energy toward that
90% there are strategies that you can
take there are systems you can put into
place and I'm here to help you with them
I adore each and every one of you and
until next time everything is possible
take care
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