Why You Need a Strategy

<p>Some time ago, I read an article by <a href= "https://www.pscouncil.org/a/Content/2019/Government_Contracting_Industry_Study.aspx"> Deltek regarding Government Contracting Industry Study</a>.  I will put a link to the article in the description for you to refer too. Now as a disclaimer, Deltek is not sponsoring this video nor am I affiliated with them.  Frankly, I enjoy reading their articles.   They put out a lot of great articles on the government contracting industry.  If you have not subscribed to them, you may want to consider doing so.  Although this article is almost a year old, I believe that the report is still spot-on for the government contracting industry.  Especially, after the downturn in the economy.  Nothing this year is going to be business as usual.  I believe that the Government will have a ton of solicitations that they want to post but will not have time to do so.  As a result, this year is going to be an off year for government contractors.  We can see this in the chart which I will put up on screen.   Government contract spending has been reduced for the last three months.  As you can see the last three months the number of contracts award is down significantly compared to the same months in 2019.  I expect this to continue for the rest of this fiscal year.  Even though the states are slowly lifting the restrictions, the government does not have the manpower to get six months of solicitations out on the street, proposals reviewed, and contract awards made.  Especially, when everyone knows that the Government spends most of their contracting dollars in the last quarter of the fiscal year which is July through September.  Now let’s get into the article because it does have useful information for government contractors.</p> <p> </p> <p>In the report, Deltek has identified essential trends, challenges, and benchmarks. </p> <p><strong> </strong></p> <h2><strong>The first Trend is Increased Growth and Competition for businesses</strong></h2> <p> </p> <p>Government contracting has always been a