Creating true wealth in the United States for minorities and specifically for black owned businesses start with creating a sick tight plan of attack and a strategy on how to make money. Obviously, in these harsh economic times this is a seemingly tall order but it can be done. Business is tough to come by for everybody but one place that people sometimes overlook is the government market.
There are many tall tales about the government spending billions of dollars on contracts but what people do not tell you is that most of these contracts are with large prime goverment contractors such as Lockheed Martin and others.
Gerard Spinks' business guide
This doesn’t mean that you will easily sign your business up with the small business association and start making tons of money. Been there done that.I set up my minority business as a government contractor in 1998 in the San Francisco Bay Area. Went to all the meetings with the SBA in downtown San Francisco. Got registered as a MBE Minority Business Enterprise, a small disadvantaged business, and a 8A contractor. I thought the money would start pouring in to my account as I would easily win government contracts. Not so and far from the truth of even what the SBA tells you.
My company, Spinks Industries, took years of hustlin’ to come up on the government market and learned one major thing after working with a partner firm to grow their business to $35 million in contracts; you must create a business plan and provide it to the SBA to become an 8A contractor and you must learn to write business proposals and respond to requests for proposals from agencies. No easy task because the proposal writing process itself is tedious and requires expertise across a number of disciplines.
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