How To Use Sam.Gov To Win $40K (Beginners Guide)

Summary

Dr. 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

00:00

📈 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.

05:01

🚀 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.

10:02

🌟 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.

Keywords

💡sam.gov

sam.gov is a free government website that allows businesses to register and access information about government contracts. In the video, it is emphasized that one does not need to log in to access contract opportunities, making it a user-friendly platform for businesses seeking government contracts.

💡Contracts

Contracts in this context refer to legally binding agreements between a business and the government to provide goods or services. The video focuses on how to win government contracts, which is the primary goal of businesses using sam.gov.

💡Source Sought

A 'Source Sought' notice is a request for information from the government to gauge industry interest in a particular requirement or to identify potential contractors. It is likened to a marketing flyer in the video, indicating that it's a preliminary step and does not guarantee a sale or contract award.

💡90110 Rule

The '90110 Rule' mentioned in the video suggests that businesses should spend 90% of their business development efforts on active solicitations and 10% on responding to 'Source Sought' notices. This rule of thumb is offered as a strategy to balance efforts between potential opportunities and actual contract solicitations.

💡Active Solicitations

Active Solicitations are formal requests from the government for proposals to fulfill a contract. The video emphasizes the importance of focusing on these as they are actual opportunities to win contracts, as opposed to the more preliminary 'Source Sought' notices.

💡National Science Foundation

The National Science Foundation (NSF) is an independent agency of the U.S. government that supports fundamental research and education in non-medical fields of science and engineering. In the video, it is mentioned as an example of an agency that awarded a contract to the speaker's company after they responded to a 'Source Sought' notice.

💡Set Aside

A 'Set Aside' in government contracting refers to a process where the government reserves a particular contract for a specific category of contractors, such as small businesses, to increase their chances of winning contracts. The video discusses how responding to 'Source Sought' notices can lead to opportunities being set aside for small businesses.

💡GSA Schedule

The General Services Administration (GSA) Schedule is a long-term government-wide contract with commercial firms providing federal, state, and local purchasing officials access to millions of commercial products and services. In the video, it is suggested that having a GSA Schedule can increase the likelihood of a contract being set aside for a business.

💡Capability Statement

A Capability Statement is a document that outlines a company's abilities, qualifications, and experience in a particular area. The video suggests that providing a Capability Statement in response to a 'Source Sought' notice can help a business stand out and potentially lead to a contract award.

💡Small Business Representative

A Small Business Representative is a person within a government agency who advocates for and assists small businesses in the contracting process. The video advises reaching out to the Small Business Representative associated with an agency for support in getting responses to 'Source Sought' notices in front of decision-makers.

💡Sole Source

Sole Source refers to a situation where a government contract is awarded to a single contractor without competition. The video discusses how responding to 'Source Sought' notices can lead to a business being considered for a Sole Source award, particularly if they meet certain set-aside criteria.

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