Just as every business has their strengths, so do they have their weaknesses. It is the ying and yang of life. As a government contractor, in order to keep pushing your business into the throes of competition, it’s imperative that you identify your weaknesses and then work on improving them so that you can keep winning more government bids and increasing your company profits.
The five steps below provide an easy road map for rooting out the core problems of your business and changing them for the better:
- Identify The Problems – You can go about this many ways: talk to customers for feedback, follow up with potential clients, consult with other companies, etc. Just find out where you are coming up short.
- Assess The Problem – When you have a list of issues identified, ask yourself what is not happening because of these issues, how they can be fixed, how much they will cost to fix, and how much time the solution will take.
- Prioritize Your List – The first point on the list should be the one most crucial to your company’s survival. Next, choose the one that has the biggest impact and makes the most sense concerning time and cost. But don’t work on solving more than three at one time or you might get too overwhelmed to proceed.
- Execute The Solution – To help you in this process, it’s a good idea to consult with fellow colleagues who have experienced the same issues, so make sure you are reaching out for help.
- Revisit The Solution – Now it’s time to tackle the next weakness. But still make a point to check in from time to time on the previous issues that you have corrected. Ask yourself if the solution is still working or if other modifications need to be implemented, and adjust your plan accordingly.
This is a necessary plan for any government contractor to follow in order to make sure your business is focused on constant improvement. This will make the difference between your company barely getting by or your company excelling on all levels.