Maracell Peterkin, small business owner, was excited to get her first contract as a small business owner. Not long after the award, the contract was breached and she was left holding a bag but the bag was filled with bills, worries and regrets instead of money.

Terms and Conditions are oftentimes negotiable but not always. What's important to know and remember is that if you can't negotiate unfavorable terms out of the contract, you MUST understand the risks that are associated and understand your company's risk tolerance.

As always, READ and UNDERSTAND before you sign a contract, negotiate terms and conditions during the RFP process and before the award process for best results. Don't be afraid to ask questions and ensure the contract awarded fits your unique business model. Lastly, don't be afraid to walk away if the contract isn't right for you. There will be other procurement opportunities!

This week Yolanda discusses the benefits of government contracting, how it works and agency scorecards. The US government is the largest customer in the world. It buys all types of products and services. Understanding what agencies are setting aside portions of their budgets for small business procurement is key to developing a procurement strategy that will ensure your business levels up using procurement.

In this week's Ready, Set, Procure! The Podcast Yolanda discusses how to get in the procurement game by emerging yourself in the small business procurement world via news, newsletters, Reddit, Social Media, etc.

Yolanda shares an article on The Defense Logistics Agency (DLA) has exceed it's DOD small business procurement goals for the last ten (10) years straight. The article Yolanda shares in full of gold nuggets of information that would help any small business owner who is looking for innovative strategies to increase their bottom line revenue and profit margins.

Find that article at https://www.defense.gov/News/News-Stories/Article/Article/3212144/agency-set-to-exceed-small-business-procurement-goals/#:~:text=For%20the%2010th%20consecutive%20year,business%20zone%20category%20at%203.5%25.

Yolanda shares one of her favorite procurement sites for small businesses. Check out this gem called the Small Business Procurement Power Page by clicking here:

https://www.dol.gov/agencies/oasam/centers-offices/office-of-the-senior-procurement-executive/office-of-small-and-disadvantaged-business-utilization/procurement-information

There's a wealth of knowledge and links to help small businesses navigate government contracting.

Yolanda also shares a story that aired on the local news (CBS 47/FOX 30) about homeowners signing a contract that locked them into a commitment that lasted four (4) decades and they were unaware of it. Yolanda shares the importance of reading and understanding prior to signing any type of contract. Listen to the story in its entirety here:

https://www.actionnewsjax.com/news/investigates/investigates-homeowners-signed-up-quick-cash-say-they-didnt-know-about-40-year-commitment/X2NED6D7AFGPPITSRHQQ2W3TP4/

In this episode, Yolanda interviews Gregory Grant. Mr. Grant is the Assistant Director of Special Programs at the Small Business Development Center (SBDC) at UNF. He is also an Adjunct Instructor at:

• The University of North Florida
• Florida State College at Jacksonville
• Trinity Baptist College

Greg is also a serial entrepreneur and he formerly owned a rental car agency.

Greg and Yolanda discuss new programs that are being offered by SBDC and PTAC as well as the importance of procurement education and procurement strategy for small and medium sized business owners.

SBDC Website: https://www.sbdc.unf.edu/
Our Website: https://www.tuckertrained.com

Yolanda discusses the importance of reading and understanding every contract before you sign it. She tells a personal story about enlightening her loan officer about an optional section of a contract. Yolanda also shares a story about general business etiquette that one of her colleagues shared on Facebook. The story Yolanda shares drives home the concept of valuing the time of your customers, colleagues, and business associates.

Episode 2

This episode of Ready, Set, Procure digs into the beginning stages of developing a procurement strategy. It answers the question what is procurement strategy, advises the research and information you will need to capture while conducting market research and we talk about the different types of government solicitations.

For more Ready, Set, Procure!, check out our website at www.tuckertrained.com.

Ready, Set, Procure! is a procurement training program designed to answer the procurement questions of a small business owner and assist them with creating a Procurement Strategy that is unique to their business and that will help them increase revenue and profit margin.