How to Win More Federal Contracts with Competitive Pricing
Format: Live webinar
Duration: Approx. 90 minutes
Trainer: Jenny Clark
NCMA Certifications: 1.5 CPEs
APTAC CPP Certification: pending
You’ve been tracking an opportunity for months, and you know that your company is an excellent fit with the customer. They know your company and capabilities, and you had a small contract with the agency that just ended last year. Winning this contract could be a game changer for your company, setting you up with a steady stream of revenue for the next three years.
The last two proposals you sent – YOU LOST! You requested a debriefing. They said that you had the technical section right. They were impressed with your approach. When you asked about the pricing, they just shrugged their shoulders and said that you were very close to the winning bid.
What would it mean to know that all your costs were covered and that you could offer your best price? How would it help you to create pricing strategies with a “what if” column – so you could make a more strategic decision related to your indirect rates and your fee percentage?
This training will show executives, financial and contract professionals how “govcon” math works. We all know that it’s a combination of the hours and the pay rates, plus “overhead” to cover other company costs. With this course, we’ll explain how to estimate and apply:
- the direct contract costs
- the fringe benefits for payroll taxes, leave, and group benefits
- the overhead costs for supporting the technical workforce
- the general & administrative (G&A) costs for corporate expenses
- the fee/profit
We’ll show you a Solvability’s Simple Rate & Pricing Model spreadsheet that demonstrates how indirect rates are calculated, provide typical competitive ranges for small businesses, and explain actions you can take to win more federal contracts with competitive pricing.
Here is what you will learn:
- How grouping employees and new hires for labor categories can affect your pricing
- How fringe, overhead and G&A rates are used in proposal pricing
- How to use multipliers for billing rates, employee pay rates, and total contract estimates
- What are the “typical” rates for fringe, overhead, and G&A in various markets
- How to create “what if” calculations of your indirect rates and fee for future projections
Specific tools and resources you will learn how to use:
Solvability’s Simple Rate & Pricing Spreadsheet
After completing this training, you will have sample spreadsheets showing how to create top line proposal estimates, labor multipliers, wrap rate calculators, indirect rate estimate and labor category billing rates.
Requirements/ Prerequisites: None
Target Audience: Business owners, finance, business development and contracting professionals who want to create more competitive pricing and win more federal contracts.
Meet Your Trainer:
JENNY W CLARK helps small businesses win more federal contracts, by showing them how to apply cost and pricing strategies that are flexible, competitive and profitable. With over 30 years of experience implementing accounting systems, Jenny found that the software for federal contractors, including Deltek GCS Premier and Costpoint, was just too expensive and overwhelming for most small businesses. To bring down the cost and improve results, she developed DCAA Compliant QuickBooks Boot Camp and her Prime Focus coaching programs. Her training series and coaching programs start with a DCAA Compliant Chart of Accounts, then explain indirect rates such as fringe, overhead and general and administrative (G&A), and finally show executives how to adapt the Solvability Rate & Pricing Model (RPM) to develop competitive bid rates.
Jenny Clark has a BA in Economics from Agnes Scott College and a Masters in International Business Studies from the University of South Carolina. She founded Solvability in 1997 in Huntsville, Alabama and relocated to Tampa Bay in 2013. In 2016, she launched the Florida GovCon Podcast, serving small businesses in the aerospace and defense industry and helping veterans along the way. She hosts an annual training conference in Tampa called the Florida GovCon Summit.