Losing is Learning

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Nearly every company in Federal Contracting loses more then they win, no matter how successful they are. It is through losing that we learn and can adjust. Get all of the data that you can, around every loss (and win), and learn from it.

Track and Analyze
Start with tracking results. Create all the categorization and methods of measurement you can. This will allow you to find correlations and track results in a meaningful and metrics-based fashion. It also enforces an honesty; you cannot get away from the facts of numbers. Take the time to analyze and decide on changes that you need to make. Make changes and keep them controlled. Minimize the changes you make so you can truly measure the impact of each. Track results and compare. If things do not change, don’t wait – make another singular adjustment and continue to track the impact.

Change is a Good Thing
Remember, change with a smile. Make sure your team knows why you are changing. Be open, jointly own the results, and ensure it is a positive event. Change is not something most people like. Frequency of change can seem chaotic to your employees if they don’t understand the reasoning behind the change. Making the results measurable, so that the team will see value in the change, will ensure the buy-in to ultimately find the adjustments for success.

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Mike McDermott

Mike McDermott serves as President of InquisIT. In this role, he is responsible for advancing the business by defining corporate strategy, and being the driving force behind business development and contract operations.

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