When it comes to winning government contracts, teaming up with other businesses can be a great way to improve your chances. By working together, you can fill competency gaps and present a more competitive proposal. However, not all teaming arrangements are created equal. An effective teaming strategy can significantly improve a bidder’s win probability, while a poorly executed strategy can create serious performance, reputation, legal, and financial problems.
In order to maximize your win probability, you need to carefully plan and execute your teaming strategy.
You need to determine whether teaming is actually needed to improve your win probability. There’s no point in entering into a partnership if it’s not going to benefit your company. Start by objectively analyzing the customer requirements and competitor intelligence. This leads you on your way to developing preliminary winning combinations and solutions. Look at the resources at your disposal and be ready to show higher-ups why teaming is necessary to increase winning probability.
Once you’ve decided that teaming is the right move for your business, it’s time to identify and evaluate potential partners. You’ll want to consider factors like their reputation, financial stability, and past performance. To increase your chances of winning, you need a team that can produce results. Identify potential partners who have the skills and capabilities to help achieve this goal by completing a comparison matrix so you know who works best.
The team structure should depend on the contract vehicle, size and complexity. A traditional prime/subcontractor setting is common for most government contracts. There are other partship types like Joint venture team, partner arrangement, a prime contractor with subcontractor pools, mentor-protégé arrangements and company-specific versus integrated project teams. Choose the structure ideal for your situation.
Tailor an Agreement
Once you’ve selected the best possible partner, it’s time to negotiate and document an effective teaming agreement. This agreement should outline each company’s roles and responsibilities, as well as how conflicts will be resolved. It is important to have clear and enforceable teaming agreements. Make sure all parties are comfortable before finalizing any documents so that no one party feels shortchanged in negotiations later down the line.
Finally, you need to optimize your team structure for maximum efficiency. Teams are more likely to win if they leverage skills across the entire group, start working together as soon as possible and manage important assets.
Depending on your business and the project at hand, the best team structure will vary. But with careful planning and execution, teaming up with another business can be a great way to improve your win probability.