Deniece Peterson, director of federal industry analysis at Deltek, believes small goverment contractors must think strategically to compete and thrive in the same space as much bigger players, she writes in a Washington Post column published Monday.
Peterson writes that small firms can stay competitive by having a well-structured portfolio, partnering with other firms and conducting market evaluation.
“Success for small businesses is largely about balance and developing business development sophistication without sacrificing agility,” Peterson stated.
She has advised smaller contractors to invest in customer relationship and capture management technology and use these tools when pursuing contracts.
It’s also important for small firms to contribute niche skills as well as bring new ideas and prospects into collaborative projects, Peterson says.
She adds that organizations should also conduct due diligence relating to contracts or partners and gather data in order gain a deeper understanding of the competitive landscape.