Thank you for joining us today for episode 18 of the Select Business Team podcast. I know your time is valuable and you have a lot of podcasts to choose from so we hope you’ll find value in today’s episode. Select Business Team brings business owners of service professions together to discuss the back office issues of running a business. Today’s guest isn’t a member of Select but is an advocate for small business owners. Karen Krymski currently works for SBDC and has quite an entrepreneurial background. Her current position allows her to help other businesses grow and expand. Karen and I met while working for eWomenNetwork. She was the executive managing director of the Tampa Bay Chapter and I was the executive managing director for Maryland. Both of us have refocused our efforts, but our experience with this organization definitely had a positive impact our lives.
Our discussion takes us in three different areas with some unique perspectives
- Sales – It’s about the relationship and having a genuine interest in the person. Be authentic, develop your own style and have the mindset of Always Be Closing. As you build the relationship you learn how to ask questions that lead you to where you want to go with sales.
- Government Contracting – Research getting on a GSA schedule; does the federal government buy what you sell? What agencies are best and how much do they purchase of what you sell? Once you determine that, how do you go about building relationships with contracting officers, programming managers and prime contractors. Find out what the opportunities are and making sure you aren’t trying to be all things to all people – i.e. not trying to sell to all branches in the government. Start out as a sub contractor to get your feet wet and avoid the overwhelm. It is a good idea to start as a subcontractor to learn the ropes, and avoid getting a bad mark which can impact getting future contracts.
- Having a Business Partner – The good, the bad and the ugly. It is important to have everything in place to protect yourself if you are going to have a partner. Research them, meet their family, have tea and cookies together! Just because they are a good friend doesn’t mean they are a good business partner.
- Have a buy/sell agreement – get the document drafted together, take the document to your own attorney then take the feedback back to the original attorney together to create the final document. Address health, death, divorce, who get’s what, how the dollars will be divided, etc. Have the document in place so you aren’t in business with your partners family if something should happen.
It’s not the best quality recording we’ve had, but it’s extremely valuable content. I’d like to encourage you to turn off all the other distractions so you can absorb the incredible nuggets shared in this episode.
WIPP – Women Impacting Public Policy is a good organization for connecting with government contractors
Federal Government Small Business Event held in the spring at the Washington DC Convention Center
Episode 9 Andrew Blate – discussion about having a partner
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ABOUT OUR GUEST – KAREN KRYMSKI
Karen Krymski currently works for SBDC in Tampa Florida. She counsels small business owners, teaches classes and is passionate about helping companies succeed. Connect with Karen on Linkedin.