Nikonomics - The Economics of Small Business
My mom always told me "There's no such thing as a dumb question... Only dumb people!"
What she meant was that those who DON'T ask questions are the dumb ones! At least, that's what makes me feel better about asking so many questions :)
I've bought, run & sold dozens of companies in the SMB space, with multiple 7-figure exits. Over the past 5 years my companies have generated over $100M of revenue and Millions of dollars of shareholder value.
Now I let my curiosity drive as I interview Entrepreneurs and ask them to walk me through how their businesses work.
Nikonomics is a place for curious Entrepreneurs and Wantraprenuers hungry to learn. So come join our big group of DUMB people, ask some questions and maybe we will learn a thing or two together.
Follow me on Twitter here: https://twitter.com/CoFoundersNik or @CoFoundersNik
Nikonomics - The Economics of Small Business
40 - Working on $100 Billion Government Projects with Alan Pentz
Join me, Nik ( https://x.com/CoFoundersNik ), as I talk with Alan Pentz ( https://x.com/apentz ), owner of a professional services consulting firm that works exclusively with the federal government. The discussion covers the massive annual spending by the federal government, the role of government contractors, and the process of securing and managing lucrative contracts. Alan shares insights into how his firm assists government agencies in setting up and running large programs, often involving compliance and regulatory requirements.
The conversation also explores the challenges and opportunities in the sector, including the unique barriers to entry, the impact of inflation, and the potential for business growth and acquisitions.
Questions this Episode Answers:
How can I break into the federal government contracting space and grow my business from subcontracting to managing large-scale projects?
What are the key steps to securing funding for a new business venture?
How can I develop a strong business plan that attracts investors and stakeholders?
What strategies can I use to scale my business rapidly while maintaining quality and customer satisfaction?
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This week we covered:
01:08 Meet Alan Pence: Government Contracting Expert
02:12 Understanding Government Contracting
02:44 The Role of Consulting Firms in Government Projects
04:20 Navigating Government Regulations and Compliance
06:48 Challenges and Complexities in Government Contracting
10:00 Alan Pence's Journey into Government Contracting
12:21 The Bureaucracy and Accountability in Government
16:29 Starting a Government Contracting Business
16:46 The Process of Becoming a Government Contractor
20:39 Government Contracting Challenges
23:30 Navigating Contract Margins
24:47 Cost Plus Contracts Explained
27:12 Small vs. Large Business Dynamics
31:59 Strategic Exits and Multiples
33:39 Rapid Fire Questions
35:52 Economic Concerns and Future Outlook
42:49 Conclusion and Final Thoughts
