January 22, 2024
Written by Brad Kraay
Those who have engaged with me in discussions about business development strategy over time will recognize my frequent reference to the concept of initially casting a wide net, extending a mile wide and an inch deep, before subsequently inverting this approach. While this idea may seem straightforward at first glance, it warrants a more thorough examination and understanding. This brief narrative outlines a strategic process for federal contractors seeking new opportunities, emphasizing the importance of a deliberate and researched approach.
The Mile Wide Beginning: Expansive Exploration with Precision
The initial phase involves casting a wide net across various federal agencies, installations, or programs. This ‘mile wide’ approach, however, is not a venture into the unknown but a calculated step marked by meticulous research and due diligence. The objective is to gain a panoramic view of the landscape, understanding the vast array of opportunities and the diverse needs of different agencies.
During this stage, contractors leverage an array of tools and resources. Market research, past procurement data, agency mission statements, and future needs assessments become invaluable in painting a comprehensive picture. Advanced tools like federal procurement databases, agency-specific forecasts, and networking platforms help identify not just potential agency clients but also key individuals within these organizations.
This phase is characterized by an intentional approach. It’s about understanding the breadth of the market, identifying potential alignment with various agencies, and recognizing where the contractor’s capabilities could potentially meet agency needs. However, it’s crucial to remember that this wide-ranging exploration is grounded in strategic planning and informed decision-making.
Transitioning to an Inch Wide: Focused Penetration
Once potential matches are identified, the strategy shifts from a ‘mile wide’ to an ‘inch wide’ focus. This transition is a deliberate narrowing down to specific agencies, installations, or programs where there is a clear and pressing need for the contractor’s services or products.
The ‘inch deep’ phase involves deep diving into the selected opportunities. Contractors now focus on understanding the intricacies of the identified agencies, the specific challenges they face, and how their offerings can provide effective solutions. This stage is marked by personalized engagement strategies, tailored proposals, and focused marketing efforts.
This deep dive requires a robust understanding of the agency’s culture, decision-making processes, and key personnel. Building relationships with decision-makers and influencers within the agency becomes crucial. The contractor must position themselves not just as a vendor but as a strategic partner who can address the agency’s unique challenges and contribute to its mission.
Ensuring Alignment and Value Addition
In both phases, the underlying principle is the alignment of the contractor’s offerings with the agency’s needs. The mile-wide approach helps identify where this alignment might exist, while the inch-wide approach delves into how the contractor can effectively meet these needs.
Moreover, this strategic pivot from broad exploration to focused engagement underscores the importance of agility and adaptability in the federal contracting realm. Contractors must be able to transition seamlessly from understanding the wide array of opportunities to deeply engaging with specific targets where their value proposition is strongest.
Summing It Up
In conclusion, navigating the federal contracting landscape requires a well-orchestrated balance between broad exploration and deep engagement. Starting with a ‘mile wide and an inch deep’ perspective enables contractors to survey the vast landscape, using due diligence and targeted research tools to identify where they can be most impactful. The subsequent shift to an ‘inch wide and a mile deep’ focus allows for a concentrated effort where their solutions meet real needs, thereby enhancing the likelihood of successful partnerships and meaningful contributions to federal programs.
The success of a contractor is fundamentally tied to the profits they generate, and it is in the government’s interest to see contractors achieve financial prosperity, especially when they effectively address and solve problems.
