Pricing Government Contracts to Win

Dr. Curtis A. Merriweather, Jr. discusses various government contracting and entrepreneurship topics. Dr. Curtis was named a Game-changer by the White House Policy Advisor for Entrepreneurship and Innovation in 2020. He has secured more than $1B+ in contract ceiling. Dr. Curtis will provide practical techniques, tips, and tricks to aid your entrepreneurial journey on this channel.

In the video, Dr. Curtis shares content he would normally share with government contracting students. He discusses factors that every government contractor should consider when developing pricing. Dr. Curtis emphasizes the importance of pricing correctly to avoid learning from costly mistakes and lack of profitability. They use an example involving a fictional prime contractor called ABC and assume a rate of $100 per hour for subcontractors (which may vary slightly). Dr. Curtis stresses the importance of wrap rates, target rates, billable hours, and salary data to determine direct labor thresholds.

Chapters:
00:00:00 Introduction
00:02:11 Unleash Your Potential
00:04:45 Mastering Pricing Strategies for Government Contracts
00:08:22 Unleash Your Pricing Power: Mastering Wrap Rate and Target Rate
00:10:37 Unveiling the Average Work Year in Government Contracting
00:13:20 Calculating Paid Time Off
00:17:35 Unveiling the Secrets of Determining Salary
00:18:59 Mastering Profitability: Unveiling the Secrets of Pricing Right

Key Takeaways:
1. Your employer has accounted for your paid time off and you are paid consistently, whether annually, biweekly, semimonthly, or monthly.
2. It is important to determine the pricing that can be used to pay actual employees based on factors like wrap rate, direct labor considerations, salary, and billable hours.
3. If the pricing is not set correctly, it can affect the ability to recruit and retain talented employees.
4. A target rate can help determine what can be paid for direct labor and ensure profitability.
5. The process of deriving the wrap rate is discussed in detail in the 8-Figure Government Contracting Mastery 5X Bundle Program

Please feel free to follow me on other platforms:
Follow me on Instagram (IG):
https://www.instagram.com/drmerriweatherformayor/

Follow me on Medium to read my blog posts: https://medium.com/@cmerriweatherjr

Free Information Session Registration Link:
https://www.8figuregovcon.com/registration-page

To take a government contracting class, please use the following link:
http://www.8figuregovcon.com/

To go directly to our course store library, please use the following link:
http://www.8figuregovcon.com/store

.
.
.
This YouTube channel is a news reporting and educational site covered under Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use. No copyright infringement intended.

#governmentcontracting #govcon #federalcontracting #drcurtismerriweatherjr ##governmentcontractingsuccess #govcon #govconsuccess