In recent news, the Biden Administration announced its plans to double the number of federal contracts that go to small disadvantaged businesses by fifty percent.
Most entrepreneurs will admit that they have ‘heard of federal government contracting’, but they just don’t know how to begin this business pursuit. They may have shied away given conversation with others or seminars that were filled with acronyms and information overload.
Wellconsider who is the #1 client that buys everything. That is the US Government and they are giving away millions to minority owned businesses. Given the government is the largest consumer of goods, buying everything ranging from toilet tissue to transportation services, the government is your ideal client.
There are over 52 government agencies, and they have opportunities or business proposal request that are specifically reserved or ‘set-asides for women, veterans, minorities or those in a certain geographic location. Entrepreneurs are not aware of these opportunities and the money that is awaiting their bid submission. You can take advent of these opportunities to help create your own reparations that now only empower you, but provided freedom for your family, business and allows you to reach back to help your community.
How to get Government Contracts?
• Know your lane of expertise
• Be able to sell what the government is buying
• Registered as a federal contractor at Sam.gov; there is no fee.
• You can self-certify if you are a minority, but you need to go the SBA.gov or a third party to certify for woman owned/WOSB or for veteran owned /VOSB businesses
• Have your business articles with the state and your EIN from the IRS
• Obtain your 9 digit unique identification number (formerly DUNS)
• Ensure a business banking account
5 Reasons Why The Cheapest Plan Can Cost Your Family The Most
Here are 5 reasons why shopping for the cheapest estate plan is likely to leave you with a plan that won’t work for your family … and will leave them with a big mess instead.
• The least expensive plan isn’t worth the paper it’s written on once you’ve left the attorney’s office — your life changes, the law changes, and your assets change over time; your plan needs to keep up with those changes. And, the truth of the matter is that a lawyer can’t afford to provide anything more than documents that won’t get updated when you only pay a few hundred dollars for a plan. The business model simply doesn’t work.
• That’s why … cheap estate plans are often sold by financial professionals who want to get their hands on your money, not do right by your family — an attorney who has built a practice to serve your family in their best interests cannot make a living selling $399 plans; only insurance and financial professionals getting paid commissions to sell your families annuities and life insurance products they don’t need can make a living selling cheap documents. Buyer beware!
• Forms and documents won’t be there for your family when you can’t be — you want to leave your loved ones a relationship with a trusted advisor who you have built a relationship with during your lifetime and who has met them and they already trust.
• You get what you pay for and it’s your family that pays the price –A client’s father in law died after paying $3,000 for an estate plan (not cheap) so that his family wouldn’t have to deal with the probate court or his ex-wife after his death, and yet that’s exactly what happened when he died — the family was in court and dealing with his ex-wife. Why? Because the law firm was a traditional forms and documents firm that put in place plans but didn’t make sure assets were owned in the right way or the plan stayed up to date over time. You might think that’s malpractice, but it’s not. It’s common practice and it leaves your family at risk if and when something happens to you!
• An estate plan isn’t a set it and forget it kind of thing, it needs to stay up to date with changes in your life, the law, and your assets. There are currently millions of dollars in unclaimed property held by each state. It typically gets there when someone dies or becomes incapacitated, and their family loses track of it because it wasn’t tracked well during life. And that’s just one way your family loses out if you’ve shopped around for the cheapest estate plan rather than getting in place a plan that works for the people you love.
3 Ways To Generate Wealth by Leveraging Your Company’s Intellectual Property
As we discussed in last month’s article, your intellectual property as a small business owner is one of your most important assets. Identifying and protecting your company’s various forms of intellectual property is a key contributing factor to your brand’s overall longevity. In order to get the most value from your IP, the company must come up with a strategy on how to leverage the IP assets. Here are three ways in which your company can take your brand and intellectual property to the next level:
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- Licensing Developing relationships with licensing partners is a method of generating income from your company’s intellectual property. IP licensing allows other companies to use your intellectual property without purchasing ownership rights. In turn, your company would be able to generate income from the licensing arrangement via payments and royalties.
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- Strategic Partnerships Partnering with other businesses that are aligned with your mission is a great way to enhance your own business’s growth. Entering into strategic partnerships can lend to increased brand exposure, shared resources, and an uptrend in revenue.
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- Co-Branding Opportunities Joining forces with another business for the purpose of creating a shared product or service is another technique of leveraging your brand. Co-branding partnerships allow you to gain exposure, enter into new markets, and by working together both parties are able to enhance the overall commercial value of your brand.
As with any type of business transaction or deal, it is vital to have proper written agreements. Any strategic partnership agreement should address each brand owner’s rights and responsibilities, ownership of new intellectual property, maintaining each brand’s own identities, agreement term, and payment and royalties. By realizing the significance of your company’s intellectual property, you can better position your company to gain the most value from IP assets.
How do you fund your dreams?
Congratulations, you’ve decided on a business idea that excites you. Deciding to be a business owner is a huge decision and one that can open doors that you never dreamed possible, if done right. However, establishing a business can be overwhelming when you begin to think of all the things you must do. And then there are the things that you are not even aware of.
Let’s Talk Legacy
Meet the mother daughter duo. Not to confuse you but Soraya Van Horn, mom and Soroya Garner, Esq. are passionate about helping others start and scale their business pursuits. Yes, their names are similar and their mission is too.
Van Horn retired in 2010 from Eli Lilly where she supported the IT Enterprise department in security and privacy. She says that this propelled he to launch her own business. Actually while working at Lilly, she started her own business in travel Soraya said that being a business owner helped to be a better employee.
Seek Out Experience
The very best entrepreneurial minds who have started and owned multiple businesses seek out others who have ‘been there, done that.’ They are always trying to be more efficient, more effective, and quicker in all that they do. For entrepreneurs, speed is always more appealing. Short cuts to success are always welcomed.
They want to find the guy who made the path and ask him how he did it:
– How long did it take?
– How much did it cost?
– If he had to do it over again, what would he do differently?
They want to find out exactly what worked and what didn’t, so they can take the best tried and tested strategies, improve on them, and create a new track of their own to run on. They always like to create their own path. If you are ready to take your chart your pathway into federal government contracting, you can register for the next group training. Where you will learn and grow with other like-minded entrepreneurs.
Get Registered to Win
In order to best position yourself for a government contract, mark your calendars for September 20, 2021 for vPro Academy 6 week intensive program that will walk you through the necessary steps in order to get you registered and in position to win federal government contract.
Text ‘fedgov’ to 66868 or contact: SORAYA & SOROYA ARE THE CONDUCTORS TO HELP LEAD YOU ON YOUR SUCCESS JOURNEY. THEY CAN HELP YOU CREATE A WORKABLE SUCCESS STRATEGY TO PROTECT YOUR EMPIRE. We look forward to talking about business journey with you!!!
