My FIRST $1,000,000 Government Contract Award (Scary Lessons Learned) New Contractors Pay Attention!
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- Опубліковано 10 лип 2021
- ⭐⭐⭐⭐⭐ 2024 Free GovCon Masterclass: bit.ly/4bZIggQ
#governmentcontracts #governmentcontracting #govcon #federalcontracts #govcontracts #legalmiddleman #middleman #samgov #wingovernmentcontracts #samregistration #setaside #naicscode #federalacquisitionregulations #govkidmethod #legalmiddleman #govconbusiness #federalcontracting #capabilitystatement #8a #veteranownedbusiness #womanownedsmallbusiness #sba #govconbusiness #govcongiants
Congratulations on all your winnings!
Awesome video. Thanks for sharing your experience and providing a complete picture.
Incredible story.
great story thanks for sharing. you are providing a lot of value
Excellent video. Excellent knowledge going forward. Very kind of you to post!
Absolutely love this breakdown. You have other recent ones like this?
Always inspiring , you’re a bless man . Thank you for blessing us with your wisdom and knowledge. Happy Sunday !
Thank you, happy Sunday!
Hi GovKid, you are being Blessed because you are a Blessing to so many. The more you give the more you will receive. 😇 Take care...
Great lesson! Thank you for sharing.
Thank you!
Congratulation Derek ! Are you ready to become big boss ?
This is good Derek. Keci Moniquè
Then you find some stupid "mentors" says it's so easy and you can do the middle man strategy and hand over 100% of the work to the subcontractor, and relax, collect the check and that's it, which in reality you can literally face huge fines and sometimes jail if you don't really know what you doing.
There are situations where you can and cannot. Much of the info on the topic is being given recklessly unfortunately because it’s leaving that out.
New Subscriber here.
Very informative material, thank you!
Awesome, welcome!
Thank you for the motivation! I’m in the Army and am working to become a contracting NCO. I’m hoping to gain a lot of experience from that and move into it on the civilian side after retirement. Your videos are helpful and inspiring. Thank you!
I know others who have done this as well. You can do it!
Hey man im in the airforce and im doing the same thing, can you tell me how it worked out for you?
In my experience, if factoring in spare parts and other markups to cover potential problems causes you to be more expensive, then no bid. Otherwise you risk biting off more than you can chew.
Very informative video. Good job. I will be signing up. I have a business already but it is in Healthcare. Now that I want to start government contracting, I want to be able to get contracts in several fields not just Healthcare. I dnt want my current business name to limit me.Do I have to get a different business?
What was the profit margin?
Hi have a question on working capital, contract financing and invoice factoring. I have a possible government supply order opportunity but need urgent resources to fulfill the order.
The irony is that the next lowest bid above y'all was prob 3-5x of your bid.
Haha, it wasn't, but maybe if we were in War Dogs...
Great video! I have a question though- in an earlier video you mentioned that passing thru a contract to another company is illegal. Wouldn’t this be the case?
This was a rental and lease contract. They indicated they wanted caterpillar or equivalent. There is nothing to self perform on this type of contract aside from the management of the contract itself.
@@GovKidMethod okay I had the same question! Thanks…But I do have an additional question. How do you know what is a “managing contract” situation vs “self performed” situation. For example the government needs janitorial service for one of their buildings for 4 months. Could this be considered a managing contract situation if you’re managing the janitorial company and making sure they perform the work in a timely manner? Or this considered something else?
What’s the website to bid on these government jobs?
Any tips for getting jobs - what websites besides LinkedIn ? I’ve worked at a govt job but it wasn’t near family.
New sub! I got a lot out of your two videos on pass-through schemes. Can you clarify why this contract was not a pass-through? This is 100% genuine question, as I’m 24 and am researching as much as I can to get to started in the gov con industry.
Thanks!
This was a rental contract so there was no service provided or product sold where Limitations on Subcontracting stipulates minimum percentages. That and the dealer was a small business similarly situated entity
Then how was your road salt contract not a pass thru?
@@GovKidMethodthen how was your road salt contract not a pass thru?
@@spencers410 as I tell everyone, you need to learn the regulations. Limits on subcontracting do not apply to contracts beneath simplified acquisition.
@@GovKidMethod simplified acquisition being the 250k threshold right?
So when you are going after these contracts, are you telling the subcontractors that it is a government contract from the beginning?
Was there any insurance that you could have purchased for a situation like this?
insurance would cover any damage to the equipment.
Have you read the entire FAR? That's my goal.
Haha I don’t think anyone reads the entire FAR. It doesn’t all apply to you
Soooo question. Can you clarify how y'all were able to subcontract to Kamatsu and Cat (i think) from a small woman owned business if its not similarly situated? I thought the subcontrwctors also had to meet the contract specs.
It was Kamatsu/ Cat equipment, not the company. The place we leased from was from a small reseller. There is also a non manufacturer class waiver that could come into play with this because contracting dictated name brand and equal so there was only limited ways to provide them what they required if we had to go direct. Ultimately, this is what contracting wanted to meet small business goals and is the way all the bidders were required to respond.
So when you spoke with Komatsu for example, and you contacted them, what did you first say? did they know and were aware that you were working on a government contract or did you just saw its for the United States government? As you know sometimes these same suppliers are competing with you and sometimes they will refuse to even talk to you if they know you are competing with them.
Yup, they are a large business and this was small business set aside so they couldn’t bid it directly. They had to work with a small business (like ours) by design of the procurement.
How is this not a pass-through? Please explain?
There are a number of ways. There is something called the non-manufacturer rule. There are waivers. And also, we didn't lease from the big manufacturers Cat and Komatsu. We leased from small biz distributors.
I miss being young and stupid
Life was so much more fun
And then experience sets in and kills all life’s adventures 🤣
That’s the tittle to the video
If you don't mind me asking, how does this not apply to the pass through laws?
Similarly situated entities
@@GovKidMethod Do you mind explaining a bit that specific intense and how it avoids the pass-through law? Your channel has legitimately been the only one out on UA-cam that has been good at breaking down and getting to the point, so would like to follow up on that. I gratefully appreciate your help!
@@mattabeln I do cover in other videos. Similarly situated means the same set aside programs. Like “total small business”. If the entity is similarly situated, it’s as if the Prime is doing the work because the money is still going to the designated set aside. In the instances where the sub is similarly situated, they can do up to 100% of the work.
@@GovKidMethod okay, that makes a lot of sense now! Thank you for going over that small hiccup with me. I am day two on education, looking forward to more of your videos
I am a disabled civ. With clearances and 10+ years in our mission critical infrastructure. With many contacts/resources in DISA, MDA and more. I was just approved for Vocational Rehab so I am going to apply for the self employment fast tract. It’s an incredible opportunity for me.
What do you know about contract size and resource capacity? Have you found that there is an employee (head count) requirement?
Thanks
Oh no you lose 15k more out of 900k plus profit what ever shell you do…
How does a million dollar contract have 900k+ profit? Please make it make sense
You have a boss, so you are just an employee ? I thought you owned the business you are beyond educated in your profession.
This was back when I worked for a contractor before I moved on. Thank you