4 Tips for Teaming: How to Find the Right Teaming Partner for Your Next Government Contract
Teaming is a great way to collaborate and build repertoire with small businesses. It gives contractors access to contracts that they would otherwise be ineligible to bid on, and it’s a beneficial route for small businesses to take when they simply can’t perform the high volume of work required by the contract as a whole. It’s a symbiotic relationship, so to speak.
We’ve compiled a short list of tips to find your perfect teaming partner for your upcoming contract:
1. According to OPEN Forum, one of the most crucial steps in the teaming partner search is doing background screening. OPEN Forum recommends checking the potential business’s financial information, payment history, and business scores with business info tracking services such as the PAYDEX score and FICO’s Small Business Scoring Service (SBSS). If you see any negative information, flag it and inquire about the circumstances.
2. Look for the opportunity to work with a small business that has a different set of competencies than you. Amy Deora of Summit, a data analytics advisory firm, says that this allows the partnership to complete a greater breadth of projects than either of you could accomplish alone.
3. According to the RIVA Blog, it’s important to go into the search for a partner with the knowledge of the kind of team you need, whether it be a specific set-aside small business or an established IT firm. RIVA also recommends knowing which companies are successfully growing their market share. These are the companies that you want to partner with.
4. Synergy is key, according to OPEN Forum. Look for businesses that offer similar goods or services that complement but don’t conflict with one another. By complementing each other, you’re both greatly benefiting, as this will pave the way for you to collaborate on future projects.
Consider these tips for your teaming endeavor. If you have more tips to share, we’d love to hear them! Tweet us at @VectorIT.