Government Contracts for Video Production

Explore our comprehensive guide on navigating government contracts in video production, where Goodsides shares its in-depth expertise and strategic insights for success in this complex and opportunity-rich sector.

Introduction

In the vast and intricate world of government contracts, Goodsides has carved a niche in the video production sector. This comprehensive guide aims to unravel the complexities of government contracting, enriched by our extensive experience with various governmental and quasi-governmental entities.

Goodsides' Experience and Market Overview

At Goodsides, we pride ourselves on our deep understanding of the government sector, covering state and local agencies, educational institutions, museums, hospitals, and more. In 2023, our engagement peaked with daily bids on government contracts, highlighting our active role in this sector.

It's crucial to recognize the potential of government contracts: In the fiscal year 2021, $154.2 billion, or 27.2% of all federal contracts, were awarded to small businesses, including those in underserved communities​​.

In fiscal year 2022, the Biden-Harris Administration achieved a significant milestone by awarding a record 26.5% of federal contract dollars to small businesses. This amounted to an unprecedented $162.9 billion investment in the small business economy, marking an increase of $8.7 billion from the previous fiscal year. This historic achievement reflects a strong commitment to supporting small businesses, including those in underserved communities, and underscores the growing importance of small enterprises in the federal contracting arena.

The Nature and Scope of Government Contracts

The pursuit of government contracts necessitates meticulous research and a strategic approach. Not every contract is publicly advertised, and budgets might not be pre-defined.

Therefore, a practical and selective strategy in bidding, rather than chasing every opportunity, is advisable.

Businesses should focus on specific agencies that align with their services and build strong relationships with procurement officers to better understand their needs​​​​.

Research Tools and Strategic Bidding

For effective research, Goodsides utilizes RFPMart.com, OpenGov, PlanetBids, and BidNet portals.

We understand that other portals and bid aggregators exist and might be more popular than the list above. However, in our experience, these are the most consistent and drive us to the first invoice faster than other bid portals we have tried in the past. No matter which one you select, we suggest that you stick to a tool/site and use it to the maximum by subscribing to alerts, etc.

Additionally, SAM.gov and the Dynamic Small Business Search (DSBS) database are invaluable resources for identifying government contract opportunities, especially for small businesses​​​​.

Federal vs. Local Contracts

The competition in federal contracts is stiffer due to fewer agencies compared to the state and local levels. In contrast, state and local contracts offer more opportunities with less competition. For instance, a City of Santa Monica procurement attracted 16 bids, highlighting the varying levels of competition across different government levels.

Time Investment and Best Practices

Preparing bids for government contracts is time-intensive and complex. It typically takes 30 to 120 days for the government to review submissions and select contractors. Bidders should ensure compliance and strive to exceed expectations, such as providing sample storyboards or including additional services like Spanish captions​​.

Pricing Strategies and Risk Management

In pricing bids, it's crucial not to underbid. Offering the lowest cost, highest value to the government without financial loss is key. Understanding the nuances of government contract pricing is essential, as is managing risks, especially in a post-COVID environment where contract changes and remote working conditions might impact deliverables​​​​.

Collaboration and Referrals

Goodsides is open to partnerships and values referrals. Our extensive experience in handling government contracts makes us an ideal partner for businesses venturing into this field. We also reward successful referrals (via cash bonuses) that translate into new business opportunities.

Conclusion

Navigating the government contracting landscape in video production is a journey filled with opportunities and challenges. Goodsides' expertise and comprehensive approach position us as an invaluable partner and guide in this journey.

Call to Action

If you're looking to explore government contracts in video production or seek a seasoned partner in this field, Goodsides is here to assist. With our vast experience and successful track record, we are well-equipped to guide you to success in this competitive arena.

By incorporating detailed insights, best practices, and strategic advice, this extended article serves not just as a guide to navigating government contracts but also positions Goodsides as an authoritative and knowledgeable leader in the video production industry.