You Just Won Your IDIQ Award — What Now?
Here’s a list of things to consider right after you’ve won an indefinite delivery/indefinite quantity (IDIQ) award.
# 1 — Lead Generation Tools
DO: Engage with reputable companies that help with IDIQ monetization strategy
We bring a human element to your data and extend your in-house capacity to build a curated pipeline, collect intelligence, and help you make industry and government connections.
DON’T: Sign up for a lead generation subscription
The first thing that new IDIQ awardees usually do is go all out on expensive lead generation subscriptions. If you don’t have a post-award pipeline planned, put your primary focus on using freely available information to build your short, medium, and long-term pipelines.
# 2 — Hiring Business Developers
DO: Leverage business development resources
Alternatively, you can outsource to business development strategists like ProposalHelper, BidExecs, and others. While keeping one eye on being an opportunistic small business, you will also want to know where those opportunities are ultimately going to take your business. Draw on the vast industry experience of outsourced experts to calibrate your short and long-term growth goals.
DON’T: Hire an IDIQ-specific business developer
There is nothing that a single business developer can do for you without proper planning, strategy, and resources to support them. Companies run around looking for business developers who claim to have other companies “double their size” with just a single IDIQ. Trust us, there is no shortage of claimants — especially around the DC beltway!
# 3 — Move on to the next IDIQ
DO: Focus on target agency-specific IDIQs
If you just cannot resist yourself and have your heart and mindset on the next popular IDIQ, connect with your network, and use their combined power. For instance, can the same team that just won an IDIQ come together again on the next one? Can your consortium now leverage a common Task Order Response Center to monetize the IDIQs? Hire experts from companies like ProposalHelper and BidExecs to help you think through these questions before you chase your next IDIQ.
DON’T: Follow the trends and go after the next ‘BIC’ IDIQ
It’s natural to get all excited about the IDIQ you just won and quickly move on to the next IDIQ. Don’t pursue or consider another IDIQ until you have a clear plan and sufficient resources to monetize the one that you just won. Shed your FOMO (a.k.a. Fear of Missing Out) and stop chasing every TikTok IDIQ trend.