Why you need service providers: The federal market is complex and highly regulated and as a new business owner you don’t have the time to learn and do it all. So we recommend identifying service providers you like ahead of time.
Who you need: We recommend finding at least one provider in each of these categories:
Legal: To review contracts, flow down clauses and teaming agreements
Accounting: To help you build your rates and check your pricing
Staffing (for services companies): To help you find people to staff when you are in pinch
A financier: To help you with liquidity
Cyber compliance: If you do anything IT related.
Do not pay them now: Many service providers like to work on a retainer (monthly fee). We highly recommend against this. Identify people you like now, but don’t give them money until you have a job for them
Tracking: There are pre-built tasks to identify each of there providers
The last thing in your work plan is to identify service providers that you like. And compared to other things in the plan it's a relatively low priority. But we recommend interviewing service providers now to understand what they do, what they charge, and to find people you like.
And we recommend finding the following providers:
Legal to review flow down clauses and teaming agreements
Accounting to help you build your rates and check your pricing
Staffing to help you find people when you're in pinch
A financier to help you with cash flow
And cyber compliance consultant if you do anything IT related.
In your work plan there’re tasks to find each of these providers and recommendations on vetting them.
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