It has never been easier to find out (and then capitalize on) just how much potential exists in the Federal Marketplace. After a reading this (and a few clicks of the button) you will have just become an expert at basic federal market research. There are plenty of dollars at stake since the average small business with a GSA Schedule makes over $1MM per year in federal sales. Combining an 8(a) Certification with a GSA Schedule can be a very smart strategy for both future business development possibilities, but also because there is significant cost savings when acquiring both simultaneously due to repetition in the application processes. However, before deciding to pursue a GSA Schedule (or 8(a) Certification), it is recommended to drilldown your federal market segment to determine your market size.

Here is how to conduct some basic market research in the Federal Marketplace: 
 
Firm: Hypothetical Company (you will soon find it😊
- Provides Language Services
- Small Business
- Location “xxxxxxxx”

STEP 1:  The starting point is GSA eLibrary – for this example, I will look at and type in the text field box “Translation Services”  http://www.gsaelibrary.gsa.gov/ElibMain/home.do

This search generates several different schedules in which to choose from. However, GSA Schedule 00CORP II The Professional Services Schedule (PSS), which is at the bottom after you scroll down, is the schedule that fits our current search.

STEP 2:  00CORP II The Professional Services Schedule (PSS); under this schedule, I find 382 1 Translation Services as the SIN that matches what Hypothetical Company does.

STEP 3:  Clicking on SIN 382 1 brings up all the companies that belong in the schedule. Look for firms that are also small businesses and in the state of Colorado for example. Only one firm that fits that criteria is on the list. 

STEP 4:  Highlight and Copy the name of the firm that meets Hypothetical Company’s requirements, and then go to USA Spending https://www.usaspending.gov/#/ 

* Click on Award Search and slide down to click on Advanced Search
* To know how well the firm did for a specific Fiscal Year, Time Period is where you can select the year you are interested to know how much the company performed for that year. 
* At the Recipient or Keyword tab, you may indicate in the text field box the name of the firm you are doing market research on, then hit the Submit Search button.

RESULTS:  This example shows that the firm’s clients are Department of Health and Human Services, Department of Agriculture, Department of Veterans Affairs, Department of the Treasury, and the Office of Personnel Management. The Award ID with the GS in front can tell which contracts were awarded directly off the firm’s schedule. However, please remember that a great deal of firms are also found from GSA Advantage Listings which is more than likely how the Department of Health and Human Services found this schedule holder.  

This is a novice approach to Federal Market Research. However, this quick and easy approach can immediately yield results and illustrate that for the majority of firms a GSA Schedule is a good investment. If you have further questions, or would like to explore how a GSA Schedule (and/or an 8(a) Certification) can be a huge advantage in your business development plans, I always recommend contacting an industry expert such as Advance GSA or ez8a. Neither charge for an initial consultation.