Calverton, MD – August 23, 2022 – Wealth Zone University’s (WZU) new course will prepare you to be a winner in the game of government contracting. Government Contracting is highly regulated and vastly different from Commercial Business. For starters, the federal government frequently partners with small businesses. In fact, in 2021 it awarded more than 11M contracts to Small Businesses, which amounts to over $147B. While the federal government routinely awards procurement contracts to small businesses, the same cannot be said of black-owned businesses. On average, Black-Owned GovCons make up less than 2% of all Federal GovCon contracts.
There are a number of factors that play into the racial disparities impacting the award of federal contracts, but the three most cited reasons that hold black-owned companies back are: 1) GovCon’s confusing jargon, acronyms, regulations, and complex requirements 2) Obstacles to obtaining critical GovCon information and certifications, and 3) Demonstrated federal preferences for established and experienced businesses, which effectively bars women and minority-owned businesses from competitive consideration. However, just because this has historically been the case WZU can empower you, as CEO, and Your Company, as a Going-Concern, to change these pitiful Black-Owned GovCon statistics!
Wealth Zone University’s Founder and CEO, Don Moragne has decades of financial experience and the knowledge necessary to effectively compete in today’s competitive federal marketplace. He created Wealth Zone University to impart his wisdom to small and minority-owned businesses, and help people pursue their dreams. The Wealth Zone University’s GovCon course equips business owners with essential knowledge acquired first-hand from seasoned experts.
This course focuses on “upfront planning and visibility”, to place businesses in superior positions when competing for government contracts.
Companies with established business operations, financial management systems, and sound practices in the private sector, can utilize these established best practices in the federal sphere as well. But it is critical that company CEOs, team members, and staff have extensive knowledge of the Federal Acquisition Regulations (FAR), which governs the acquisition of products and services with appropriated federal funds. Another key aspect of GovCon is creating internal systems that are compliant with the Defense Contract Audit Agency (DCAA) mandates.
But before setting out to pursue government contracts, it is essential to have both well-developed business models and structured business plans to serve as your company’s roadmap for success. Next, businesses should build an advisory team that focuses its efforts on developing relationships with CEOs and Managers already successful in GOVCON, who are willing to share their experiences and insights. Third, establishing and sustaining capital relationships will be necessary, as access to Capital and Bonding are vital to winning and performing contracts. Finally, knowledge of the industry is essential, specifically identifying and then learning the pertinent NAICS codes and understanding the FAR and DCAA will help you navigate the complex ins and outs of this business.
WZU’s goal is to provide relevant exposure, that will enable small and minority-operated businesses to develop key indicators that influence award decisions in federal contracting. These factors include past performance, concise, precise, and informative Contract-Specific Capability Statements, as well as developing marketing strategies that allow businesses to be bot considered as both visible and credible with GovCon agencies. WZU’s GovCon course is tailored to make businesses stand out from competitors and deliver outstanding results.
About Wealth Zone University:
Don Moragne, the Founder and CFO of Wealth Zone University is a functional CFO with expertise and extensive experience in the management of financial and wealth strategies. Wealth Zone University is a component of The Success Zone, Inc., a Financial Management Firm that provides Chief Financial Officer services to small and medium-sized businesses. WZU operates under the belief that success in business is possible for anyone who begins an entrepreneurial journey, so long as they are armed with the proper mindset, the appropriate business model, and experienced advisors.
Company Name: Wealth Zone University
Contact Person: Don Moragne
Address:4061 Powder Mill Road Suite 700
Country: United States