Picking The Right Target

So your behind in your growth goals and need to find the right opportunity to pursue? Your getting pressured to identify and qualify the next target so the pipeline seems more realistic? Here are some simple tips to ensure you select the right one.

First make sure that no matter how many bosses you may have clamoring for that “make-a-difference” program, the fact is there are just as many competitors looking at that target as your company is. So let’s explore some fundamentals:

1. They don’t call it prospecting for nothing! Exploring what programs fit within the framework of your corporate capabilities requires a significant aspect of market research. If you have an organization in your company dedicated to this then you should engage them often. If you don’t then you’ll be spending a lot of time reviewing the commodity databases that publish government contracts. In either case, this is an essential part of identifying the targets.
2. Identify those programs that are far enough out to enable your company to pre-position properly. In short, don’t expect to win a $50M or $100M+ program in the next 3 months. It simply is not going to happen. Line them up a minimum of one year away. The bigger the target, the longer lead time you’ll need to position.
3. Be pragmatic about your chances up front. If you place it in the pipeline, just remember that in and of itself has absolutely nothing to do with winning.
4. Call plan, call plan, call plan. Nobody wins contracts without visiting the technical customer(s) and the contracting officer’s. Nobody! Selecting the right target means your visits to the government representatives provide room for optimism. If they look you in the eye and tell you they really like the work their incumbent is doing, then (a) speak to the incumbent about joining their team, or (b) walk away from it and save your B&P money.
5. Once the call plan has been executed, then your in a position to determine if you should be priming or looking to sub to another prime. Or most importantly, if your company should pass on the target because the odds of unseating a strong incumbent (client’s view-not yours) are too difficult.

Now that the target is qualified and you’ve gained some degree of assurance that the competition is genuine, then by all means pursue, pursue, pursue. Just remember that winning requires a very strong desire and focus on the part of the marketing manager, capture manager, proposal manager, and also the senior leadership. Without everyone equally as committed to winning, your challenge becomes that much greater.

Best of luck in choosing your targets, and remember to give yourself enough time to position to win.

For more information on pipeline and targets, contact me at:

www.mcguirkconsulting.com