Business is tough. Doing business with the government is even tougher. Whenever you’re working with such a large organization, both the opportunities and the pitfalls are massive. Based on my own experience as a business owner in this space, I’m going to give you a few tips on how to navigate these governmental waters.
Seize Every Opportunity
Every so often there will be a government program that seems too good to be true. Whenever these opportunities present themselves, carpe diem! Typically, these sortsÂ of programs will disappearÂ with a change in administration or public sentiment. However, there’s an opportunity to make a lot of money before the programs vanishÂ if you have the determination and the will to seize the day.
If you create a three-, four- or five-year plan, it’s possible that before you see those plans come to fruition, the program has changed or the opportunity no longer exists. Just seize the moment and enjoy the ride. The government typically works in fiscal cycles, so if your program exits this year, you can plan until the end of the year. However, at the end of that year, you’re going to need to reevaluate.
For example, there was a program under the No Child Left Behind that allowed for students atÂ low-performing schools to receive free tutoring if they qualified for free or reduced lunch. The program was an incredible opportunity for anyone who had a tutoring business like myself. However, due to lack of oversight, the program was shut down in most states. But since I seized the day, our team was able to help tens of thousands of students around the country before the program closed.
Carl Dorvil started a tutoring and mentoring company called Group ExcellenceÂ (GEX), out of his SMU dorm room at age 21. The company started with a grant from Texas Instrument Foundation, earningÂ recognitionÂ as an INC 500 company in 2011. Carl is currently featured as part of SMU’s national marketing campaign, “World Changers Shaped Here.”
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