I'm being asked for our firm to join a larger company in a bid for a government project. What information should I focus on collecting initially?

When considering joining a larger company in a bid for a government project, it is important to focus on collecting information that will help you understand the scope of the project, the expectations, and the potential impact on your firm. Based on the excerpts provided, here are some key pieces of information you should focus on collecting initially:

  1. Company Basics:

    • Understand the current revenue, growth, and employee count of your firm to assess the capacity for taking on a government project.
    • Evaluate your current financial status, including burn rate and cash in the bank, to determine the financial feasibility of joining the bid.
    • Identify key board members and primary investors who may have a stake or interest in the government project.
  2. Decision-Making Process:

    • Determine how decisions will be made within the partnership for the government bid. Will there be a consensus approach, or will the larger company take the lead?
    • Clarify the roles and responsibilities of your firm within the bid and the project execution.
  3. Alignment with Goals and Skills:

    • Assess how the government project aligns with your firm's long-term goals and the skill sets of your team.
    • Consider whether your firm can meet the outcomes and competencies required for the project.
  4. Communication and Information Sharing:

    • Establish a structured system for information flow between your firm and the larger company, especially if working remotely or across different locations.
    • Use tools like Asana or other agreement-trackers to ensure that all actions and decisions are documented and tracked to completion.
  5. Risk Assessment:

    • Evaluate the risks involved in the project, including financial, reputational, and operational risks.
    • Determine the potential impact on your firm's existing operations and resources.
  6. Cultural Fit and Team Dynamics:

    • Assess the cultural fit between your firm and the larger company to ensure a smooth collaboration.
    • Understand the team dynamics and how your team will integrate with the larger company's team.
  7. Legal and Compliance Requirements:

    • Gather information on the legal and compliance requirements of the government project.
    • Ensure that your firm can adhere to all regulations and standards set forth in the bid.
  8. Feedback and Buy-In:

    • Ensure that your team is on board with joining the bid and that there is buy-in from all stakeholders.
    • Collect feedback from your team on any concerns or suggestions regarding the partnership.

By focusing on these key areas, you will be able to make an informed decision about whether joining the larger company in a bid for a government project is the right move for your firm.