New to Government Contracting? This is the Best Type of Government Contracts Business for Beginners
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- เผยแพร่เมื่อ 29 มิ.ย. 2024
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As a former agency recruiter I can confirm what he is saying is 100% accurate and to be honest, he’s underselling a bit here.
I am starting my own firm to win gov contracts and will absolutely be offering staffing solutions.
Great video man!
Thanks Diego. That’s exciting! You give an inch and they take a mile so I usually tread lightly when making “claims” because I want others to make their own decisions and not take my word for it :)
Awesome video! Thank you Derek!!
This information is gold. Thanks, a new subscribe for sure!
Are you looking into getting into gov contracts we can share info I’m learning as well
Some great fruit for thought! Thank you
Hello and thanks for sharing this info? I've been interested in finding out more information. I'm a single African American woman who has started everything during Covid for my small business. I stumbled on this during the pandemic and continued to hear people talking about this. Your research and expertise, I'm following now. Joined your FB group to learn more.
Wow this is good! Thank you, I’ll be in touch
Nice stream. Extremely informative
👍👍.
this is a great resource and I appreciate you providing this! I'm in a career transition from losing my job last week and have the means to start thinking about this and acting upon it. This is exactly what I want to do going forward.
if you see this, how did it go?
I actually was thinking of this myself as I'm trying to focus on what services to provide. I'm definitely in the early stages of building a business plan but I agree that this is probably the best why to start out with the least amount of overhead
For sure! It’s not everyone, but if nothing else, it gets your mind thinking in the right direction. And for some, it’s a perfect opportunity.
Great video!
Thanks Mr James
This video has great value
Thanks, Jay!
Thanks for the video. When do I start the hiring/recruiting process? Before I start bidding? How do I hire a team of professionals before I get a bid?
Thanks a lot Derek for the Great business model, I have experience as IT recruiter so I may considering that opportunity, I was just wondering if this model will satisfy the farr low regarding the middleman scheme or we have to do something else to make it happen?
Thank you for this information
My pleasure!
SUBSCRIBED. PhD in IT and I really want to get into government contracting. I hope this channel has more info on getting my foot into the contracting side
Did you get a contract yet
Thank you.
Thank you for the advice I been in hr in years as hr director so this is defiantly a inspiration as my first contract gig do you think this advice is still valid in 2021
I have research so many videos on TH-cam on federal contracting, you by far explains it better then anyone I have seen. How can I sign on to all your courses, what ever you are selling I am buying!
Haha, thank you for that feedback! Everything is available at GovKidMethod.com !
Can you utilize your staff/employees experience to gain contracts out of you companies scope? It seems like your company technically has the experience to do whatever they’re hired to do opening up the doors for you company to win different types of contracts. Let me know if that’s something that’s possible. Thanks for the info!
How did I not think about this
This is great. I come from a recruiting background from my 9-5 and I am set up in the SAM but kind of have hit a brick wall. What would you recommend?
I've taken your advice and just started brand new in the Federal Staffing Agency business. My questions are about Worker Compensation Insurance. Have you used the staffing agency model? What is your experience buying Workers Comp Insurance? Did you do it on a per state basis or have you found an umbrella policy? How much does it typically cost you per employee?
Hi Dan, yes it’s an insurance policy you have to purchase. Many factors affect it like the type of industry you’re going into, location, number of employees etc. It’s best to get a quote from a business insurance agency that can also quote you general liability insurance for your staffing business. They will get you all taken care of. As always, doesn’t hurt to get multiple quotes
Thanks!
Thank you, Justin! Greatly appreciated contribution to our community! Come join us here: www.skool.com/govconstartup
I was initially thinking of this. I have 10 years of healthcare experience and staffing is needed badly, ESPECIALLY within mental health/substance abuse facilities.
What primary naics codes do you use for staffing or professional services? And how do you set up the other naics codes for the services you will provide?
As a government staffing agency do i have to set it up like a normal staffing agency as far as insurance and everything?
Im trying get some dump contract, do i registered in that web the dnb thing ? Just started trying to get in to it
Thank you for this info. I have an LLC and a business degree. I currently work in logistics as a mid level manager. I’ve had some experience with the SBA and some knowledge. I first got interested in government contracts when I was 18 but didn’t have the knowledge or means to pull it off. I’m 30 now, seasoned and with some business experience.
Derek Thank you, When will you're 1 on 1 coaching be back available?
October after the move!
What NAICS code would renewable energy solutions fall under?
I want to hire people to do the work, but we would need to pay them regularly. I heard that contracts may pay you 60 - 90 days out. What would you recommend to navigate this process of starting a small business if you want to hire people to fill roles on contracts?
I would suggest doing research on, how to negotiate contract terms.
Thank you for making this channel and the website! I feel relieved.
Edit: What motivated you to share your knowledge?
Tunji Ade great edited question! I’d like to know as well.
My motivation: I want to see people build thriving GovCon Businesses and I want to be the one to help them
@@GovKidMethod do you teach your coach on how to build this specific business
Great video Derek. Thanks for going through the benefits of staffing as it relates to government contracting. I’m a recruiter in life sciences and I’d like to enter the government space.
What are typical payment schedules and expectation between Gov. - recruiter (me in this case) vs. Me - recruited talent?
In gov. contracting, can you bill hours and get your talent paid on a bi weekly basis?
From my understanding, it usually takes about 30 days to be paid after the completion of the contract.
However, throughout the life of the contract, I’d expect that my recruited talent would like to be paid much sooner, or every 1-2 weeks. Should I raise a large pool of cash to cover payroll in the interim until the gov. payment arrives?
Not sure if I’m seeing the situation properly. I don’t know what I don’t know. Hoping you could shed some light on this if you get some time.
Keep up the good work!
Hi Justin, yes, it's up to you how you want to pay your people. Government will invoice on Net 30 payment terms. Employers usually hold employees first check so that may help some. You should always have cashflow "runway" to help cover delays in payments from the government when you're first getting setup in the invoicing system.
Hi, what is the NAICS code for a staffing agency?
I think the bad rap comes from acting as a middle man but the staffing company does all the leg work to connect the two together and the ones that have the knowledge and qualifications to perform these task are not necessarily wanting or interested in searching they just want to do what they are qualified to do so they actually need to have a staffing company to keep them busy so it's a Win Win... Now can they find their own work maybe... I just think they would rather have someone do that for them so they can focus on what they do best. So is there a need for Staffing Companies a BIG YES and no need to feel guilty! :)
Well said Pete. I agree with that statement!
Hey there! Love your videos... could you expand or even make a video on whether foreign citizens can participate in this? Thanks in advance.
great content. I work for contractor doing Help Desk support overseas 90K a year I want to start my own Company opening a Professional Services Staffing firm soon
You can do it!
Hey @shamikasmith , how did you get the role under your contracting agency? I've been interested in getting an overseas contract in IT.
good information ! Can your a home base business do contract with government ? How many years the business had to exist ?
Yes, lots of businesses are home-based. There is no minimum of years required to register your business in SAM.gov. Your business must exist for a couple years for things like GSA schedules and to apply for certain set-asides.
Would you say you should "vet" contracts first or "vet" resumes on indeed/monster?
50/50. You should "vet" the bid first to see if it's even something you want to respond to. Once it's qualified, use the best candidates/resume you can get to make the most compelling proposal to win! But yes, you have to make sure there are QUALIFIED candidates in the AREA so you can actually fulfill the contract if you win. Make sure you price it reasonably, though, so you can actually find a candidate to work the job at the price you quoted. Lots of staffing jobs you are retaining incumbent employees, but always be prepared to have to back-fill the position.
How about importation business to supply government needs
If my business is registered, for example, in Illinois, can I only compete for contracts in Illinois? If I was to win a contract in Florida, would I need to register as a foreign business before conducting work?
Good question, Robert. Everything I teach and talk about is for Federal Contracts so you can bid in contracts in all of the states. I get why you're asking because cities and states also have their own contracts. Beta.sam.gov has all federal contracts...you can be in Alaska and win a contract in Florida. Makes no difference :)
Sir you have truly inspired me. I'm currently in the UK, and we have the exact same system. I'm 18 years old and would extremely love and appreciate more advice from you.
Khuram, I highly encourage you to check out my free courses at govkidmethod.com
Nice video!! I have no education in business or even a solid direction to start but very very interested In a new profession in gov. Contracting.. any advise would be great
Thanks! I would recommend going through the free courses at govkidmethod.com
i;m looking to get a government contract in delivery. i have a couple vans that does deliveries from warehouse to businesses and contract closed due to covid. can i get a contract in this arena?
Sir, where do you register for this?
I live in Florida and my father has an electrical business. Do you have any knowledge how this is for electrical companies? Ty!!!
You register at SAM.gov. Yes! Lots of opportunity as a prime or subcontractor as an electrical company!
Thx
What NAICS code do you search for these types of opportunities and isn't there upfront cost with payroll?
Common admin staffing naics codes include 541990, 561110. There are many others. First invoice is typically approved net 60. After that, payment terms are net 30 with the government. Plan to float the first few paychecks at least.
Do you need to do proposals for this staffing professional firm
I got a phone call from federal award management yesterday and rescheduled for tomorrow. Are you familiar with them?
Where do I go to get a government contract for a junk removal service ? What website ? What are the steps ?
Just so I'm clear your position in the contract would be just staffing the people to fulfill the job requirements? So there is no need to be on-site regularly?
That is correct!
@@GovKidMethod thank you.
If you can only bill the govt. for example 1920 hours but have to pay an employee 2080 hours do you add the 160 hours difference cost to the bill rate you provide to the government? Otherwise, how do you account for the difference?
Yes, bill rate. This is where most get stumped.
@@GovKidMethod what is the bill rate if you don't mind me asking
So the people you recruit are technically your employees? Do you give them a w-2 to sign? I'm confused on this part of the process
Yes, they are W-2 full-time employees just like many other. They are contractors simply because they work on a government contract. They are not qualified as 1099 if they have a regular and predictable work schedule.
@@GovKidMethod ok thank you!
So you don’t have to have workers comp or liability insurance for the employees who are working for you?
You should have all insurances and pay into all things that you normally would for your business. Government is no exception
Brother man, can you time stamp your points? Makes it quick for us to revisit them. Thank you.
Good day. Are their company that look for contracts that meet a particular companies criteria? I am a transportation company and am looking for a person or a firm that sear h for contacts that meet my companies job description..
If you'd like I can give you my email to discuss ?
Can you get a government contract as an llc? Or do I need a specific type of business?
Yes you can
My husband is a forklift mechanic. He has been at the same job for over 20 years and he now wants to change and become a government contractor. I think he could be a recruiter as long as it is easy because he knows forklifts.
Do you have to be a small business owner ?
To be eligible to receive a contract action award, you must have a business that is registered in SAM. If you are an individual competing for a position, your EIN becomes your SSN.
What’s the NAICS code?
Hey, Jason. The government essentially "tags" the goods/services it buys with NAICS codes. If you google "sba naics code" it will bring up a downloadable PDF where you can search all of them to find what matches your business. Hope this helps
GovKidMethod thank! asking for NAICS For “ professional services and staffing” that you use?
Hello. Do you know any travel business opportunities and what are ways to generate money for purchasing a new travel software for my business? Tell me more about the staffing team?
COVID-19 has grounded travel. This is a huge amount of opportunity in Staffing..just takes 1-2 years to get it off the ground and get some placements under your belt
I would love to chat with you.
Thank you so much!! (^_^)
From that 15 million how much profit did you make? After all without any profit that 15 million is nothing
I understand in part but I’m lost.. please don’t laugh too hard. The government contracts out some kind of IT need. A staff is hired. What will they be doing? I get it can all be done without meeting in person and how It all gets orchestrated. What is the actual work? what will they be hired to do for the government? How does the government give draws to pay the new employees? Would I have to have enough capital to pay them first? What is this need the government contracts? They just need staffing? Why would the government need to contract this out when there is so many federal employees? I just don’t get it.
The work is anything the government needs done. They procure it out. They can’t just take tax payers dollars and do it themselves because they need to compete it out amongst contractors to get the best bang for our buck. They have to be good stewards of tax money. You pay your employees then invoice the government net 30. So you have to float until the cash flow catches up for about the first 60 days to get setup in the invoice system. They buy many things, not just staffing.
@@GovKidMethod Thank you for taking the time to answer! You answered it exactly how I needed it. You are appreciated! Wish I could ask you about an idea I have if there was another way of writing thats not public comments
I love this business model you just need to find qualified people to do these jobs you yourself don't need to know much about it at all hmmmm... I need to know more about this opportunity I'm subscribing to your channel and will review your past videos. :)
Just like any employer, you have to make sure you are offering your health insurance and any benefits required by the DOL and any applicable wage determinations. Staffed contractors are protected and you need to make sure you give them their dues IAW the contract, and include that in your pricing. Some staffing companies forget this and it makes them more competitive in their pricing...Then the DOL knocks on their door 2 years later.
@@GovKidMethod I really don't know the details about this business model but it really has peaked my interest ... There are so many people with great talents and qualifications but have no idea where to turn to keep a consistent flow of business so if someone could specialize in the field of locating offers in whatever field that has the need and just by letting my imagination run a little I can think of tons... So man I really think your on to something here NO DOUBT!!!!
@@GovKidMethod DOL (Department Of Labor) and what does IAW stand for? I apologize for my ignorance!
Pete Anderson yes department of labor. Sorry, IAW just means “in accordance with”. So, you just have to abide by the contract and labor laws.
@@GovKidMethod okay thank you.. That had a bit stumped lol
YOU BLEW UP MY EARS WITH THAT STUPID MUSIC AT THE INTRO!!! 😡The actual video was good.
Are you serious?
So cool
how can i contact you?