Pursuing government contracts may seem like a promising business decision, especially in today's economy, where the federal government is one of the few organizations spending large amounts of money - $787 billion in economic recovery funds, in addition to the $400 billion spent annually in procurement. Of those funds, 23% of federal contracts are mandated to be awarded to small business owners and 5% are targeted to women business owners. However, excessive paperwork and red tape make working with the government confusing for any firm that's new to it. That's why mentor-protégé programs are great vehicles for learning the ropes of government contracting.

For many small business owners, the mentoring experience helps them prepare and become viable government suppliers. For example, networking with the right people is integral to securing government contracts, and a mentor can help you navigate government agencies and influence decisions in this highly bureaucratic process. Therefore, protégés should be careful in selecting a mentor. Because only a good one can provide entry to the right business circles, strengthen your business skills and help improve your competitive standing.

Women small business owners Laurie Simon of Ombrella Consulting, a technology firm, and Maureen Borzacchiello, owner of Creative Display Solutions, Inc. a trade show display manufacturer, are both currently participating in a three-month, one-on-one small business mentorship program to help each win their business' first government contract. To mentor these women, OPEN turned to Lourdes Martin-Rosa, American Express OPEN's Advisor on Government Contracting.

Having gained valuable insight during her 18 years of federal contracting experience, Lourdes Martin-Rosa, offers the following tips for how small business owners, can select a mentor:

Do: Identify gaps in your own organization. Query other entrepreneurs and agency contacts to locate potential mentors that have hands-on expertise in the areas in which your company lacks expertise.

Do: Get involved. Programs like American Express OPEN's Give Me 5: Education and Access for Women In Federal Contracts, hosts events through a comprehensive events program in markets across the country to give small business owners first hand access to program resources, and can assist you in finding a mentor.

 

Do: Identify a mentor whose business aligns with your strategic goals. A mentor doesn't need to be in the same industry, but a common link should exist.

Do: Share an honest assessment of your business today. Be clear about where your business is today and articulate your goals so your mentor knows your vision of success.

Do: Consider the mentor's time and motivations. Find an individual with a genuine interest in helping others and who is willing to invest the time to help develop your business. Ask how they will help you grow your business - and what they want in return.

Don't: Jump in too quickly. Get to know the potential mentor and their business and make sure the two organizations have synergies. Become familiar with the potential mentor's personality as well as their business and learning style. If they have mentored others before, talk with their previous protégés about the pros and cons of the arrangement.

Don't: Underestimate the time commitment. Learning from a more experienced counterpart can be invaluable, but be sure to understand the time required for the relationship.

Don't: Overstep the bounds of the agreement. It's understandable that a protégé would look to its mentor organization whenever it needs assistance. However, it's best to keep within the outlined mentor-protégé agreement so as not to overextend the mentor.

Don't: Go it alone. Although most agencies ask protégés to find their own mentors, they often offer networking opportunities to gain entry to these businesses. For example, the U.S. Treasury hosts outreach sessions twice a year to give potential protégés an opportunity to meet prime contractors who could become future mentors.

Lourdes' mentorship of Laurie and Maureen, is sponsored by American Express OPEN as part of their Give Me 5 program. Local entrepreneur, Michelle Crumm is the owner of Adaptive Materials, a fuel cell innovator, in Ann Arbor, MI. Since winning her first government contract in 2001, Michelle's business now has millions of dollars in government contracting commitments and she can speak to her experience in the government contracting marketplace and her involvement with OPEN's Give Me 5 program.