WHO GETS 8A SOLE SOURCE AWARDS
Too often companies are sold by someone in the industry (not Catapult Growth Partners) that they need to get their 8a status and get sole source contract awards. Too often they are led to believe that once they have the 8a socio-economic status, someone like Catapult Growth Partners can introduce them to an Agency Executive and get them a sole source award.
Imagine you have a piece of land and you want to build a home on that land. Who do you hire to make the largest investment of your life? Do you hire the company who has limited experience, or do you hire the company you know who has built many houses? Or the company who has already built many homes in that neighborhood that you can see and speak to those homeowners about their satisfaction with the results.
The same factors come into play for an Agency executive who spends millions of taxpayer dollars for goods and services at their Agency. Why would they put their reputation, their career on the line to award a sole source contract to a small 8a with little track record of success or no past performance within their agency where they can see proof that the company can do the work?
If anyone tells you to get your 8a status and you will get sole source awards, ask them to refer you to the company that succeeded with that strategy. Then talk with them to learn about when they got their 8a status and just how they were able to leverage it. What you will find is that the company built it’s brand within an agency. They had proven their ability to deliver quality work. They invested in understanding the agencies mission and challenges. And they built relationships within the agency.
Sole source awards typically go to companies already doing work within an agency. Or a company that has demonstrated experience in that agency. Or a large 8a firm that has significant demonstrated experience such as a “super 8a” like a Native Alaskan, Native Hawaiian, or Native American Corporations.
Don’t be fooled into thinking 8a status is your golden goose to sole source contracts. One day your 8a status will bring great value but our advice is to get your 8a status when it is most valuable to your company.
Catapult Growth Partners DESTINY methodology is based on the firsthand experience of our team that possess almost four hundred years of experience. We have seen 8a firms grow successful and seen many who failed. For a free consultation regarding your business growth strategy or to learn more about the CGP "team" approach to business development, contact any of the CGP Partners.