How Is FedBizOpps Useful in Business Development?

Anyone in the know in business development doesn’t get too excited if they happen to see something that looks exactly like what they are trying to bid on when searching FedBizOpps.gov (FBO). The Federal Government is supposed to post all unclassified opportunities over $25,000 on FBO. It is safe to say, however, that FBO is pretty much useless to you for bidding purposes because most of the opportunities that appear there have been discovered already by your competitors.

Your competitors may have been planning for these opportunities for a while, throughout the entire acquisition process from when the opportunity was created to the point of its culmination in a Request for Proposal (RFP) or Quote (RFQ). Rarely do you stand a chance of winning if you pick an opportunity off a website as public and popular as FBO late in the game, once a draft RFP, and especially the final RFP, has been issued. It has probably been “spoken for” or “wired” by some company that has taken its time to prepare.

Why would FBO be useful in business development, then?

It is actually useful for many purposes. Let’s take market research, for example, that every business developer should do periodically to figure out how the market is behaving, and if the company needs to adjust its course. You could use FBO to figure out which agencies buy what you sell. For example, you could search for “marketing communications.” Remember to use quotation marks if you use multiple keywords. See what contracts show up in the results. Make note of the contract titles and numbers that look especially interesting.

You will also see what companies are winning these contracts, and what companies may be issued sole source awards. Make a note of them, because these are your potential competitors or teammates. Look at the details about the contracts’ scope to zoom into the kinds of work you might be interested in bidding on.

FBO is a perfect place to learn about upcoming opportunities for educational and planning purposes and figure out what types of opportunities exist for a company like yours, and what are their key characteristics. You may not be using FBO for something to bid on, but the information on the solicitations is representative of the patterns of your potential customer agencies. You can see who buys what, how they do it, and how much and how frequently they buy.

Of course, you may indeed find some good opportunities in the early stages of procurement that don’t yet require proposals. All is not lost when the government issues a Request for Information, announces “Sources Sought,” or notifies of a “Presolicitation.” You may still have a fair shot at the opportunity if you start preparing right away.

On FBO, you can see what companies are registered to receive notifications about the RFPs and amendments. This will help you with your competitive analysis and teaming strategies. Some contracting officers may even require that your company register on FBO.

You may also use FBO for marketing yourself as an interested vendor to the government and partners.

Another great use of FBO is to find information about vendor outreach events, with its “Search Small Business Events” and “Vendor Collaboration” buttons.

As you can see, FBO has many uses – but all of them should be appropriate to your goals.

Would You Aim for a Business Development Manager’s Role?

The presence of an efficient business development manager is crucial to a business’ existence. It is one of the key roles of this age, that every business seeks to fill in, hiring a strategic planner, who can grow with the company. Those employed as the business development managers look after his/her team’s collective effort, looks for potential clients in the market, defines the target audience, and if needed, even redefines the company’s objectives.

These are top-level executives, who remain I contact with the management. Their ultimate goal is to create new business opportunities and ensure the company’s long- term growth. The term ‘business development’ can be described as an amalgamation of strategic planning, sales and marketing. Those holding more than 5 years of experience in sales can also be considered for this position. Besides, many leading firms consider MBAs to be hired as business development managers. Most commonly, those hailing from sales are seen heading for these career options. However, business development has a lot more than just sales, but the sales professionals are found suitable to fit in these jobs.

Job Description

  • Defining target audience and looking for potential clients
  • Preparing strategies to pitch the products to clients
  • Marking team’s collective efforts and keeping a checking on the lead generation
  • Representing the organization in the corporate events
  • Preparing monthly reports and analyzing the same
  • Providing essential data to the management
  • Taking essential steps for corporate associations
  • Identifying new sales opportunities
  • Working in coordination with other departments such as sales & marketing

Key elements for a business development manager’s role

For every business development manager, the following elements are of great significance.

Business Acumen

A business development manager can explore job opportunities in numerous sectors, including FMCG (Fast Moving Consume Goods), IT (Information Technology), Finance, Manufacturing, Consulting, and others. In any of these sectors, an understanding of the industry and the business is needed for the professional to possess. It will not just help him conveniently take on the role, but will also take the right decisions with an understanding of the business.

Management & Research

He plans as well as manages to take the business the next level. A professional serving as business development manager has to lead the team and direct it to the right path. For this, leadership and management are of great essence. Besides, research too is a major element for these professionals. They need to research well about the market, the prevailing trends, the customer’s requirements, and so on.

Strategic Planning

The business development managers are also involved in planning the campaigns to target the potential clients. They may even look for marketing and sales related data for the same.

Customer Service

Another major element remains the customer service. They need to ensure whether the customer their team is dealing with, is entirely satisfied with the services. They also need to constantly check on a crucial deal that has not been closed.

The Other Essential Details

In the recent years, the need to hire these professionals has been realized by most of the brands. They can explore the job offers from varied sectors as per their preferences and knowledge. However, some of the leading organizations they can aim to work with include Infosys, Deloitte, KPMG, Ernst & Young, Wipro Technologies, Cognizant, and many others. Further, these professionals can expect to earn Rs 578,392 per year in India.

Business Development Consultants Share Experience, Know-How

Most business people can say that they have been involved in a situation where they later determined that they hadn’t seen the whole picture, and as a result they didn’t solve a problem or take advantage of an opportunity like they maybe should have. In other words, they didn’t see for forest for the trees. This type of situation is the primary reason why business development consulting is important.

Regardless of the situation, business development consulting can be an important step in the life of any business. With an experienced consultant, owners and managers of a company can learn new ways of doing things, or just bounce ideas off of a well-versed coach. This is someone who may have been in a very similar situation, and can teach others how to deal with such a situation effectively, efficiently, and most importantly, profitably.

Business development consulting gives company owners and managers first-hand experience in dealing with situations, whether problems or opportunities. Unlike books or many workshops, the owners have the benefit of a consultant’s full attention, as well as the opportunity to get answers to direct, real-world problems. Advice is not based on a lot of theory. It is real-world guidance to deal with concrete problems.

In recent years, these types of professionals have enjoyed exponential growth, due mainly to the success stories that have been told by their former clients.

Whether the situation has to do with financing, accounting, marketing, sales, administration or other areas of a company, there is probably a consultant that is available for the task, one who will give owners and managers the benefit of their knowledge, the good as well as the bad.

It is also important to note that just as is the case with any financial expense, since development consultants are not employees, their cost is a tax-deductible expense. They can be used when a company is considering expansion into foreign or domestic markets, or when an underdeveloped market in a foreign country is suspected.

Most importantly, these consulting professionals can offer experience and solutions from as wide or as narrow a scope as an owner or manager desires. Whether it’s an issue of making a company grow in general, or to focus on a particular aspect of marketing, sales and accounting, designing, development or a new product, service or project, a business development consultant can make the difference between success and failure.