Deltek‘s Tim Zullo urges contractors to start on work to create strategic plans focused on business development opportunities in preparation for the start of the newÂ fiscal year in October.
“Opportunity-focused actions such as examining your core market, identifying adjacent markets, building a pipeline and developing an effective resource plan are some of the many steps involved in a successful planning process,” Zullo, senior director of consulting for Deltek’s GovWin practice, writes in a piece published SundayÂ for the Washington Post.
He adds that thisÂ approach wouldÂ helpÂ enable vendors to quickly respond to business opportunities after the release of the federal budget.
Companies will decide to either build on their core markets or explore new ones, but Zullo recommends theyÂ also identify andÂ review their capabilities, distinguishing value and growth potential in relation toÂ current or futureÂ markets.
AfterÂ establishing a direction, Zullo says they shouldÂ then look intoÂ federal budget trends and otherÂ leads that can help them build a pipeline.
He statesÂ that potential contractors mustÂ then plan their resource utilization toÂ facilitate “maximum growth potential.”