There are dozens of common hard requirements, from having insurance, to having a security clearance, to having a government approved accounting system. In the collateral for this class we have a downloadable list of the most common hard requirements.
Finding hard requirements (SAM): To find hard requirements in SAM you just have to search for each hard requirement.
Finding hard requirements (FedScout): FedScout automatically extracts the most common hard requirements so you can easily find them
Seeing whether those hard requirements flow down to subs: As you find hard requirements note whether they “Flow down” to subs. Here is the logic:
Do you meet the hard requirement you found?
Yes: Then you don’t have to worry
No: Well then we need to know if it flows down
Yes: If there is a hard requirement that you don’t meet, and that flows down, they you are out of luck, you can’t be on this bid team
No: Then you can be on a bid team, but you can’t be the prime
Deciding whether you can prime or sub: This is an all or nothing analysis, to Prime you have to meet ALL the hard criteria. If you want to Sub then you have to meet ALL the hard criteria that Flow Down. If you don’t meet everything then move on to the next solicitation
At this point you should have a full new business project plan and if you complete everything you’ll give yourself the best chances possible of being in that 20% of companies that are successful.
We also recommend scheduling time with your PTAC, SBDC and some experienced entrepreneurs to review it, and as we said in the last phase, showing people that you care, are making progress, and asking for their advice is a great way to strengthen your relationship with them.
If you're new to the federal market there’s a lot to learn, so we recommend taking our classes on federal market’s basics. They’re quick, free, and will help you understand all the key concepts.
Finally, if you
We hope you got a lot out of these exercises, I hope to see you at future federal market events, and welcome to the community.