Government Contracts for Small Business with Eric Coffie.
Eric Coffie introduces the opportunities with Federal Government Contracts for Small Business. He also shares his entrepreneur journey, and how he currently helps people find and land government contracts.
Eric Coffie is an entrepreneur, and the founder of Govcon Giants – which helps people land government contracts. After the real estate market crashed in 2007 Eric launched a successful consulting company helping small business owners earn millions in revenues via federal small business programs. In 2012, he launched Evankoff Construction, a steel erection company building airplane hangars and metal buildings for government agencies around the country. In 2017 he launched Score Contracts a YouTube channel to help other small businesses achieve their revenue goals using the power of federal contracts.
Eric is also the host of the Govcon Giants podcast dedicated to showcasing the scalability of growing a business harnessing the power of federal dollars. He is also the author of “Billion Dollar Playbook: 72 Websites for Massive Scaling in the Federal Marketplace.”
Today Eric focuses on teaching everyday people how to win extraordinary contracts in the federal arena.
Eric lives in Miami, Florida.
Episode Host: Henry Lopez is a serial entrepreneur, small business coach, and the host of this episode of The How of Business podcast show – dedicated to helping you start, run and grow your small business.
- Please introduce us to the world of Government Contracts. What are they, what are they for (what is the government buying)?
- Why (and who) should a small business owner consider government contracts? What are the pros and cons?
- Introduce the high-level process for finding and winning government contracts.
- What should small business owners and solo-preneurs be looking for?
- Is becoming a sub-contractor a good way to get started?
- How do we get ready to earn a government contract?
- What does a government agency want to see from us? What do they not like?
- What is an “8a Certification” and do I need that?
- What are some other common misconceptions about government contracts?
- Does it help me if I am minority or women owned? Do I need to register for this recognition?
- What is the SBA SubNet platform?
- How do I get started with government contract with my small business?
More About Eric Coffie:
Between 2008 – 2012 Eric Coffie helped build two 8a small businesses from zero in federal contracts to millions in revenue from federal sales.
At the same time he built his construction company Evankoff from zero to more than $20M in government sales.
He always felt the federal marketplace was secretive and the only help small businesses could get was at expensive conferences or trips to Washington D.C.
With the rise of social media, podcasting and YouTube (Eric Coffie’s Govcon Giants YouTube Channel) he felt there must be a better way to get the information in front of millions of people who needed it but could not afford (nor cared) to travel.
So in 2017 Eric Coffie started to share his journey publicly on his Gocvcon Giants YouTube channel.
Eric had just won a $5M contract at an Air Force Base redoing the exterior of a hospital so he could afford to fund his dream.
His plan was simple. Provide actionable steps (no fluff) that people could use and implement immediately.
The idea was to give away 99.9% of what he learned and knew for FREE.
And the results turned out pretty unremarkable.
Since that day, he has spent his time building, supporting, training, and advising thousands of small businesses on how to navigate contracts, RFP, RFQ, submittals, legal terms, FAR clauses, opportunities, bids, contracts, EIDL, PPP, grants and more.
Eric Coffie’s mission is to be the “Govcon Giant”.
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More About Government Contracts:
Why Small Business Owners Should Consider Federal Government Contracts:
1. Stable Revenue Stream: Federal government contracts can provide a steady and reliable source of income, allowing small businesses to forecast revenues with more certainty.
2. Large Contract Size: The federal government is the largest purchaser of goods and services in the U.S., and the scale of some contracts can be substantial. Landing even a single contract can significantly boost a business’s bottom line. This does mean, however, that you must be prepared and capable of delivering on these larger contracts.
3. Long-Term Contracts: Many government contracts are long-term, providing small businesses with stability for several years and the potential for contract renewals.
4. Diverse Opportunities: The federal government procures a wide variety of goods and services, ranging from IT solutions to catering, meaning there are opportunities for virtually every type of small business across most industries.
5. Prompt Payment: The Prompt Payment Act mandates that federal agencies make timely payments, ensuring that small businesses don’t face cash flow issues due to delayed payments. This can be in stark contrast to the challenges often related to collecting payments from other companies or organizations.
6. Set-Asides for Small Businesses: The US federal government has set-aside programs to ensure that a certain percentage of contracts go to small businesses, including those owned by women, veterans, and socially or economically disadvantaged individuals.
7. Growth Potential: Winning a government contract can increase the credibility of a small business, making it easier to secure other contracts and expand its client base.
8. Networking: Engaging with government agencies can lead to networking opportunities, providing chances to collaborate with other contractors or to be recommended for future projects.
Other Resources for Small Businesses Seeking Federal Government Contracts:
1. SBA’s 8(a) Business Development Program: This program from the Small Business Administration (SBA) assists small, disadvantaged businesses in gaining access to government contracts.
2. SBA’s Office of Government Contracting: This office works to ensure that small businesses obtain a fair share of federal government procurement opportunities.
3. System for Award Management (SAM): All businesses must register in the SAM to do business with the federal government. SAM also offers a database for businesses to look for contracting opportunities.
4. SCORE: A nonprofit organization supported by the SBA, SCORE provides mentoring and workshops for small businesses and can offer guidance on government contracting.
5. Challenge.gov: This website lists government challenges and competitions, providing an alternative way for small businesses to engage with federal agencies.
6. Govcon Giants: Eric Coffie helps small business owners learn how to win government contracts. Last year alone his students did $30 million in work for the U.S government. Are you ready for your piece?
While the process of securing federal government contracts can be intricate and competitive, the potential benefits make it a valuable avenue for small business owners to explore. With proper research, preparation, and use of available resources, businesses can position themselves advantageously to win government contracts and experience growth and stability. Eric Coffie is an expert on government contracts, and he helps small business owners navigate the world of government contracts.