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Sizing Your Market: The How and Why of Market Analysis
September 26, 2014John Stanford, WIPP Government Relations
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WIPP is a national nonpartisan public policy organization, advocating on behalf of nearly 4.7 million business women
representing 76 business organizations. WIPP provides timely economic policy information and identifies important trends and
opportunities to its membership.
www.WIPP.org
Give Me 5
• National program from WIPP & American Express OPEN designed to educate women business owners on how to apply for and secure federal procurement opportunities.
• Give Me 5 works to increase the representation of Women Business Owners that win government contracts. We provide accessible business education tools to assist both new and experienced federal contractors.
• Women Business Owners could gain more than $4 billion in annual revenues if the 5% contracting goal set by Congress was reached.
John StanfordWIPP Government Relations
Sizing Your Market: The How and Why of Market Analysis
September 26, 2014John Stanford, WIPP Government Relations
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Program Objectives Participants will leave with a better understanding of:
The need for market analysis The availability of public information How to size your market Finding competitors and partners Strategies using this information
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The Need for Market Analysis Two reasons:
1. Unlike commercial selling, federal government contracting information is public, giving everyone an opportunity (but you have to know where to look)
2. The government as a whole is too big for small businesses to target, you have to know who is buying what you are selling
Competitor vs. Partner
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What You Need First
Top Two NAICS Codes
For this presentation, I am using the example of Women Tech, Inc. – an imaginary IT company with the following NAICS codes: 541519 PRIMARY 541512 SECONDARY
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Tools We Will Use
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Information is publicly available:
USA Spending: www.USAspending.gov
System for Award Management (SAM): www.sam.gov
SBA Dynamic Small Business Search (DSBS): www.dsbs.sba.gov
Federal Procurement Data System (FPDS): www.fpds.gov
Sizing the Market
How much of your product/service does the government consume?
Who in the government buys it?
How do they buy it?
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The Funnel Process
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Overview Procurement Market
Identify Competition/Partners
Analyze Contracts
USA Spending: Step 1 (Homepage) Click “Prime Advanced Search” located near the top:
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USA Spending: Step 2 (Search) Enter two options:
1. Fiscal Year to search (use the most recent FULL year, i.e. FY13)
2. Your primary NAICS code
Scroll to the bottom and click “Search”
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USA Spending: Step 3 (Results)
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USA Spending: Step 3 (Results) Cont.
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USA Spending: Key Takeaways
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Summary View (blue # icon) under map
Searches return results in # of contracts not $ amount
Searches can be narrowed to return more detailed information Need to narrow to find top sub-agency information
Contracts and Grants available for search
Identifying the Competition Companies who contract with the government are public
Big and small competitors
Multiple sites useful for vendors
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USA Spending: Finding Competitors Using the information found on www.USAspending.gov we can look at
top vendors
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Using the SBA’s Dynamic Search
Different tool for finding small businesses from SBA
Access the Dynamic Search at dsbs.sba.gov
Search functions like the USA Spending search and returns results as a table or in Excel file
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Researching Vendors
System for Award Management
When visiting SAM, click “Search Records”
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Examining Contracts Use the Federal Procurement Data System (FPDS)
Steps1. Register with FPDS for advanced search
No items are needed; create a profile with username and password (requires letter, number, and special character)
2. Search by vendor, NAICS code, or contract # Use border “boxes” to narrow search
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What You Can Do Next
Use refined searches to identify buying centers
Figure out size and type of contracts
Subcontracting Opportunities
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Next Steps Checklist With this information you could complete a market analysis including:
Identify Top 3 Agencies for FY 2011-2013 Include 3 sub-agency buying centers
Identify 5 Prime Vendors to consider subcontracting
Identify 3 WOSB/EDWOSB vendors (competitors/partners)
Create profiles on FPDS
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Thank You For Participating Following this call you will receive links to the podcast of
this session.
For additional information on this webinar, please email [email protected]
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