Expiring government contracts are a great way for government contractors to compete for government business. These are viable opportunities that are currently being funded. When reviewing an expiring contract, make sure to review and understand six specific contract areas:
1. The current contract’s duty and responsibility
2. Any specific task order details
3. The Contract’s value and burn rate
4. Any special or specific modifications made during the current contract period
5. Area(s) of performance and specific funding office
6. Any relevant contracting officer’s name and contract information
Once you understand all the relevant contract details, and know the contracts you want to go after, you need to make sure the contract is going out for bid again, because the contract requirements may no longer be needed or could have changed drastically. When speaking with the contracting officer, the discussion should focus on current issues that the agency is having with the contract, and how your solution can help with those issues and fulfill all requirements. Approaching the conversation from this angle will help build the relationship and keep the contracting officer engaged and interested.
The time before the bid “hits the streets” is critical. Use this time to glean as much information as possible, since the contracting officer can speak and meet more freely with you about the opportunity. Once the bid is public, this type of communication will end since the government cannot be seen as playing favorites with vendors. While they cannot discuss every detail, there are copious amounts of information they can share in order for you to build a relationship with them.
Although there are many ways to grow your government business, focusing on expiring contracts should be priority activity. Expiring contracts will allow your firm the ability to position itself as a Small and Medium Enterprise (SME) and compete for government business that is not solely dependent on new requirements and new funding.