Top 6 Questions New Entrepreneurs (Government Contractors) Ask

Dr. Curtis A. Merriweather, Jr. discusses various government contracting and entrepreneurship topics. Dr. Curtis was named a Game-changer by the White House Policy Advisor for Entrepreneurship and Innovation in 2020. He has secured more than $1B+ in contract ceiling. Dr. Curtis will provide practical techniques, tips, and tricks to aid your entrepreneurial journey on this channel.

In this video, Dr. Curtis addresses six (6) frequently asked questions (FAQs) regarding varied aspects of government contracting. He emphasizes the importance of having a plan of action and being data-driven in market research. Moreover, entrepreneurs must determine their target customers and purchasing habits while leveraging the experience of core team members to grow and scale organizations based on individual goals.

The video addresses common questions when starting a business, such as what products or services to sell, who buys them, how to finance the venture, and how to find opportunities. Different funding options are mentioned, including personal loans, borrowing against a 401k, asset-based lending, factoring, and conventional lines of credit. Dr. Curtis also emphasizes the need to understand how the federal government procures goods and services to position oneself effectively.

Chapters:
00:00:00 Introduction
00:04:06 Finding Your Perfect Product or Service for the Federal Government
00:09:37 Unlocking the Government Market
00:13:35 Unveiling the Federal Government's Procurement Strategy for Maximum Opportunity
00:18:51 Unlocking the Cash Flow Puzzle
00:26:06 Unveiling the Behind-the-Scenes
00:31:09 Solution Driven & Focused Execution
00:33:27 Maximizing Your Bidding Strategy & Contract Management:

Key Takeaways:
1. Entrepreneurs must consider prior experience and transferrable skills when determining what to potentially sell to the federal government
2. Entrepreneurs must use market research to determine the need for the products and services they desire to sell to the federal government.
3. Entrepreneurs must identify potential revenue sources to fund their government contracting operations.
4. Social networks are the best way to identify contract opportunities early
5. Not all federal contract opportunities are available on SAM.Gov under contract opportunities
6. Entrepreneurs must effectively leverage the experience and resources available.
7. An action plan is needed to determine and meet customer demands.
8. Entrepreneurs must learn how to engage potential customers early to develop customer intimacy and better understand customer needs.

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