Marketing Articles About Requirements

Marketing Articles About Requirements Search Results

Results for: requirements

16 items found:

Florida Car Financing With Bad Credit Loans.

Obtaining a loan for urgent requirements whether it is a car or a home has become a regular practice among the people all over the world. Most of the people who borrow a loan do not practically fe... (08/27/08 09:00 PM)

FAS 157 - Another Annoying Accounting Provision.

I feel like bitching about FAS 157 today. I was at the annual meeting for one of our LPs yesterday and there was a long discussion about the impact of FAS 157 on both the buyout and the venture capital business. Once again everyone was in violent agreement that this was yet another accounting rule - promulgated by the accounting industry - to generate more fees for the accounting industry while burdening companies, especially entrepreneurial ones, with additional regulations that have no real impact on reality.

If you aren't familiar with FAS 157, it's officially known as the "fair value measurement" rule and unofficially known by some as the "mark to market" provision. Before you ask, "wait - isn't mark to market the thing that got Enron in trouble and started this whole wave of SOX regulatory stuff", I'll simply answer "yes" and let you ponder that.

Like our dear friend 409A, FAS 157 has come out of the latest efforts by accountants to create more transparency in financial reporting. Like 409A, I'm sure these are well intentioned ideas although my cynical side envisions an accountant in a sub-basement of a building NY with green eyeshades and a little green desk lamp sitting around dreaming up ways to torture entrepreneurs while accomplishing his accounting bosses goal of generating more work (and fees) for themselves. Oops - sorry - back to the main story.

Since the beginning of the VC business, valuation methodologies were generally consistent and straightforward. They were usually some variation of:

Value your investments at your cost.
If a financing happens at an increased valuation and is led by a new investor, write your investment up to the new price per share.
If a financing happens at a decreased valuation regardless of whether or not there is a new investor, write your investment down to the new price per share.
If bad things are happening, you can take a discretionary write down based on your best judgement.
If good things are happening, you should not take a discretionary write up. Only write things up in case #2.
If the company is public, use the publicly traded price but discount it due to illiquidity (usually 25%).

Pretty straightforward. Very conservative. This almost always understates the value of a VC portfolio, which presumably is a good thing since it's illiquid and the only fund performance information that should ultimately matter to a VC (and their LPs) should be the one linked to cash flows (draw downs from their LPs and distributions to their LPs.)

FAS 157 blows this up completely. Under FAS 157, VC's now have to mark all of their portfolio company values to market (er - "fair value measurement") qualify for GAAP (which is a requirement for every VC firm - our investors require we have audited GAAP financial statements.)

It gets worse. Our LPs (who typically invest in multiple VC funds - in some case many multiples) also have to adopt FAS 157. So they also have to mark their portfolios to market. It used to be the case that they could simply rely on the VC valuations. To comply with FAS 157, they theoretically have to look at all of the underlying assets in the VC portfolios and make an independent judgement on the values of those underlying assets.

Some VCs (and LPs) are just starting to implement FAS 157. Ironically, some accounting firms wanted 2007 as the start year; others seems to want 2008 as the start year. Many VC firms are viewing this as an annual exercise even though they report to their LPs quarterly. Some VC firms (like us) have already built it into our quarterly reporting cycle (our accountants told us we needed to comply in 2007). Yeah - it's all over the map.

But that's not the real problem. I'll get to the real problem(s) in my next post on our new friend, FAS 157.

(06/27/08 09:00 PM)

Outlines - Hooray!.

One of my jobs today is to prepare an outline for recompete #3. I've written about the importance of outlines in the past, and to my way of thinking, an outline is the very best tool you can have have for preparing a proposal. Beginners often skip the outlining stage, thinking that they can just dig in and start writing. Or that their proposal is too small to merit an outline. Big mistake. Because what happens when you work without an outline is that you end up with a mish-mosh of written material that is disorganized, doesn't flow, and may not be responsive to the requirements of your RFP/RFA.

An outline is your friend. And the time you take to properly prepare it will pay off down the road. Here are some things to consider when preparing your outline:

Your RFP/RFA is your guide. Sometimes it will tell you exactly how your proposal should be organized, at least with respect to major headings. You may also be able to ferret out your first level of sub-headings from Section L (instructions), Section M (evaluation criteria) and/or Section C (statement of work).

Don't use too many levels. The more levels you have, the more difficult it will be for you/your team and for reviewers to follow your proposal. Personally, I like three levels:

I. Major Heading

A. First Sub-Heading

(1) Sub-sub Heading

Of course, some RFPs/RFAs will dictate the specific structure of your proposal. In such cases, you need to follow those instructions.

Don't think of your outline as being carved in stone. Outlining is really an evolving process. I often change my outlines several times over the course of a proposal because I find -- after things have been written -- that they just don't fit where I thought they would.

I've heard people say that they don't really know how to prepare an outline. That's not surprising because it's often not as easy as it sounds. It can be a frustrating exercise and can take time to get it right. But in the end, you'll be glad you spent the time.

The Purdue OWL (Online Writing Lab) has a useful section on developing outlines. Check it out here.

(04/24/08 09:01 AM)

Government Grants and Free Money.

With the economy in bad shape like it is these days, many people are experiencing financial hardships. As a result, the scammers are out in force, advertising their books and CDs that promise free money from the government for everything from paying your bills to getting out of debt, and more.

I'm getting a boatload of emails from people who want me to help them write a letter to apply for a government free money grant. Many others write to say that they need the right form to apply for a grant or that they have written a proposal but don't know which government agency to send it to.

If you need help, you may be eligible for various types of government benefit programs, which are often called grants. Most of these programs are administered at the state and local levels. You don't need a special book to find them, and you don't need to write a letter or a proposal to apply. But you will probably have to meet certain income or other types of requirements, and you'll need to be realistic -- despite what the scammers and books tell you, the government is not going to give you a handful of free money to pay off your credit card bills.

Below is a list of categories of benefits and assistance offered by the government. You'll find this listing along with links to specific programs in your state as well as federal agency programs and other resources. Just click on the link to go to the website.

clipped from www.govbenefits.gov

Select categories of interest.

Select categories of interest. (Check all that apply)

Career Development Assistance Child care/Child support

Counsel/Counseling Disability assistance

Disaster relief Education/Training

Energy Assistance Food/Nutrition

Grants/Scholarships/Fellowships Healthcare

Housing Insurance

Living Assistance Loan/Loan repayment

Medicaid/Medicare Social Security

Tax Assistance Veterans-Active Duty

Volunteer opportunities

(04/14/08 09:00 AM)

Advice and Feedback.

I don't have to do much writing on my current assignment -- the Staffing Plan that I've talked about the past couple of days is my major contribution to the proposal in terms of new writing. Since this is a re-compete, my client has first-hand knowledge of the project and the ability and resources to write most of the sections.

So my role is primarily to provide advice and suggestions to the client, as well as feedback on their written sections. I will likely also be involved in some re-writing and editing as the proposal moves toward its final stages.

So what does this advice and feedback involve? Well, much of it has focused on interpreting the RFP, which contains a good deal of unclear information about what should be addressed in the proposal and where it should go. So I offer suggestions to my client about what the content of the various sections and ways that the information might be presented. "What should we say here?" or "What do they mean by this?" are questions that my client has been asking.

As drafts of proposal sections are completed, my client sends them to me. I review them and check them against the RFP requirements to see if they have addressed what the RFP has asked for. I also provide comments on the drafts using 'track changes' in Word. Some of my comments relate to RFP requirements; others relate to the content -- whether more detail or more specific information is needed, whether there are gaps or internal inconsistencies, etc.

I like this role a lot because I can advise people what to do without actually having to do the work myself. It's a welcome break from the intensity of writing.

(03/12/08 07:31 AM)

Submitting Questions.

For the proposal I'm working on now, we are in the process of compiling a list of questions that will be submitted to the government.

Most government RFPs and RFAs will allow bidders to submit questions related to the content of the specific RFP and RFA. But there is usually a cut-off date for submitting questions and after that date, any questions you submit may not be answered.

The compilation and submission of questions is an important step in the proposal process. You can submit questions on just about anything in the RFP or RFA -- the content of the technical proposal, the content of the cost proposal, the instructions, contract clauses, etc. The way it usually works is that the Proposal Manager asks everyone involved in preparing the proposal to carefully review the RFP/RFA and identify statements or requirements that they don't understand, or that are contradictory, or that may require additional explanation from the government. When all the questions are compiled, the Proposal Manager reviews them and decides which questions should be submitted.

To make it easier for the government to answer your questions, it's a good idea to cite the page number and/or item number in the RFP or RFA that your question relates to. Therefore, the format of each of your questions might be as follows:

In the instructions on page 45, item L.8, the RFP states that bidders should submit 3 copies of their proposal. However, page 1 of the cover letter indicates that 4 copies of the proposal should be submitted. Please advise how many copies we should submit.

More on this topic tomorrow.

(03/04/08 09:01 AM)

More on Re-Competed Contracts.

You might think that incumbents who will be bidding on a re-competed contract have advance knowledge of the ways in which the new RFP will be different from the old RFP. After all, they are currently performing the contract and hopefully have good relationships with government technical and contracting officers who might just give them a little advance information about the new RFP. But this is not always the case.

It's definitely not the case in the three re-competed bids that I am working on. For the food services contract I mentioned the other day, the government has split the current contract into two separate contracts to be bid: one contract for each of the two government facilities where the food services will be provided. Currently, my client is providing these services to the two facilities under one contract. The government has also substantially changed their menu requirements. So what does that mean for my client and me? More work on the proposal than we anticipated. In addition to addressing the changes in technical requirements, we have to prepare and submit two separate proposals.

The RFP for the second re-compete that I'm working on also has some substantial changes from the previous RFP, none of which were known in advance by my client. Fortunately, they have already begun preparations to deal with these new requirements. My third client is also anticipating major changes in the RFP when it is released (we not sure when this will be). But they don't know what those changes will be or how much more work it will take to address them.

Changes from one RFP to the next can occur because the government believes that improvements can be made in the way that work is currently being performed, or because they are not getting the outcomes and results they had anticipated. Other times, they make changes to an RFP because they have less (or more) money to spend. And sometimes, my clients and I think that they make the changes just to make life more difficult for us.

So non-incombents take heart. You're not always the only ones who aren't in the know about what's coming down the pike.

(03/01/08 09:01 AM)

First Reading of RFP.

Last night I got around to looking at the RFP for one of the re-competed contracts. Many people, when they first get their hands on an RFP or RFA, begin reading from the first page. They start with the cover sheet/cover letter, go on to the pricing forms in Section B, the scope-of-work in Section C, the Representations and Certifications, the incomprehensible list of government contract clauses, and so forth. By the time they get to the end, they often have no idea of what they have just read.

This isn't the way that I do it. Whenever I get an RFP or RFP, I immediately go to the back of the document. I don't even care what the subject matter of the RFP is. The first thing that I read is the Instructions to Offerors (bidders), which is often in Section L. This tells me a lot about the work that will need to be done -- how many pages the proposal will be, the type and extent of information that will be required in the technical and cost volumes, how that information should be organized, the deadline for submitting questions, whether the proposal will need to be submitted electronically or via mail or courier service, etc. Even after reading this stuff, I still don't know what the RFP/RFA is about. But at this point, I don't care.

After reading the Instructions, I immediately go to the Evaluation Criteria which often follows the Instructions. This tells me how the proposal will be evaluated by the government -- the number of points will be given to each section of the proposal, what the most important elements of the proposal will be, and any further elaborations on the Instructions that I just read.

Next, I go to Section H, which is sometimes called "Special Requirements" or something similar. Section H is often overlooked. But it shouldn't be, because this is where the government often hides important stuff. Things like insurance requirements, special security requirements, and the like.

Finally, finally, finally, I am ready to read the Scope-of-Work in Section C and to look at the pricing forms in Section B. All the stuff in the other sections can wait until later...

Try this technique in the next RFP or RFA that you receive and see if it doesn't give you a better sense of what's going on and what you'll have to do to prepare.

(03/01/08 09:01 AM)

More on Re-Competed Contracts.

So non-incombents take heart. You're not always the only ones who aren't in the know about what's coming down the pike.

(02/25/08 09:01 AM)

First Reading of RFP.

Finally, finally, finally, I am ready to read the Scope-of-Work in Section C and to look at the pricing forms in Section B. All the stuff in the other sections can wait until later...

Try this technique in the next RFP or RFA that you receive and see if it doesn't give you a better sense of what's going on and what you'll have to do to prepare.

(02/21/08 09:01 PM)

Red Teams.

I never heard the term "red team" until several years after I began my proposal writing career. My employers never used them and it wasn't until I started working on my own that I encountered organizations that used red teams on certain proposal efforts.

Basically, a red team is a team of outside reviewers that a company brings in to review a proposal once the final draft is completed. Many organizations don't incorporate a red team review process because: (a) it can be expensive; (b) they can't spare the time; and (c) the idea has not occured to them. But if you are preparing a proposal that is very important to your firm, using a red team can be a valuable and worthwhile activity.

In a nutshell, the process works like this:

Your company identifies people (perhaps 4 or more) to serve as red team reviewers. These people should not have been involved in the proposal in any way, and in fact it's best if they are outside your organization. You will probably need to pay these reviewers a consulting fee for their time. Depending upon the size and complexity of the proposal, the red team review can take from one to several days.

Before the red team begins their work, you'll need to prepare for them. They will need a packet of materials, including the RFP, your final proposal draft, the proposal outline, checklists, instructions, and other relevant materials. These can be put in binders that are distributed to each reviewer. The red team will also need a conference room or other space where they can read and meet.

Once the red team assembles, the Proposal Manager or another member of your proposal team may give a verbal presentation on the proposal: what it is about, some background on the issues, what problems have been encountered in developing the proposal, etc. The Proposal Manager also goes over the instructions with the review team. These instructions should be as specific as possible -- they should tell the red team reviewers what you want them to look for. For example: Is the proposal theme clear and consistent? Are the benefits of your approach desirable and clearly stated? Does the proposal address all of the RFP requirements? Is it convicing? How can specific problem areas be fixed? How could the overall proposal be improved? Etc., etc.

The red team begins its review, first working individually to read the materials and document their comments and impressions. Once this is done, they meet as a group to discuss their findings and to prepare a set of recommendations. When the review is completed, the red team presents its comments and recommendations to the proposal team, which then incorporates the reviewers' suggested improvements.

Besides red team reviews, there are also pink team reviews. But that's a topic for another day.

(02/21/08 09:01 PM)

Google Should Take the Spectrum and Run. The Big Bang Originally uploaded by CrispyMo Yesterday, the FCC decided to abide by two very important open principles in the upcoming auctions for broadband wireless spectrum in the 700 MHz range. The rules will require that any auction winner build a wireless network that does not discriminate by device or application. In that sense, such a broadband wireless network would be more like the wired Internet than today's closed mobile networks. That's good news for any company or startup who may want to develop hardware or software for any such future network. They won't need the approval of the network operator to do so, just like they can build any Website or Web device today and be fairly sure that it will work for anyone with an Internet connection. Such open rules are good for competition and innovation. There is one caveat: these open-access rules will go into effect only if the FCC receives a minimum bid of $4.6 billion for use of the spectrum. It's a put-up or shut-up condition that the FCC is giving to the tech industry, and Google in particular.Even though Google didn't get all the rules it had asked for (such as requirements that any auction winner resell capacity to other companies on a wholesale basis and allow for open access points into their network), it should bid on the spectrum and put its ideas into action. If it wins the auction, there would be nothing stopping it from wholesaling the spectrum to other... (08/01/07 09:01 PM)

Tips for CIO / CMO Relationships. Forrester just published an in depth research paper titled Partnering for Success: The CIO - CMO Relationship They interviewed me months ago for this paper based on my experience working with IT in startups and Dell. Bottom line: the most important aspect to good relationships is open and frequent communication. Here was the sidebar on my answers to these questions:How can CMOs and CIOs build a more effective partnership? In my experience, there are four key principles for a culture ofeffectiveness: 1) agreement and accountability, 2) face-to-face work with no “over the fence” mentality; 3) open communications andsharing of plans and results; and 4) investment by the CIO, CMO, and their employees to build relationships. What can marketers learn from their IT peers? Marketers can learn that IT is interested in how its solutions impact the business and customer, and, by sharing this, IT is more invested in their work and have a better understanding of requirements. IT thinks in terms of architecture and how things are done. It needs to fully understand the spirit, intent, and detailed requirements of what needsto be done in order to avoid missteps. The more that marketing shares with IT, the better.... (07/18/07 09:01 AM)

Balancing The Three Jobs of Growing a Business: Lawn Mower, Plumber, and Contractor . Weeds are growing in the yard…so I’ve scheduled the lawn mower to trim the yard.My wife told me the toilet is leaking at its base. I called a plumber to keep things running.And we’re in the middle of working with a pool contractor to extend our patio to change the usefulness of our backyard. It takes a lawn mower, a plumber and a contractor to run and increase your house investment. It struck me these are also the ‘jobs’ – in essence --to run and grow a business. There are always opportunities to optimize, fix issues, and innovate in your business. This is the natural mix of requirements during growth. Sustained growth is achieved through the art and science of balancing between a portfolio of optimizing, fixing and launching breakthrough strategies. Or rather, being the lawn mower, plumber and/or contractor. In my experience, many people in startups spend their time as a contractor…architecting, engineering, and building new ideas. Inevitably, there are too few people interested in being plumbers to fix problems from new products. Execution to build new ideas is good, but execution to resolve issues is not as good (or not as interesting). And there are few systems and little patience to optimize (lawn mower).. At companies like Dell, employees are operational, executional, financial, superstar lawn mowers. Business Process improvements drove optimization to new levels. The goal is to squeeze every dime of cost out of or every dollar of margin out of existing products, functionality and programs. Occasional... (04/10/07 09:00 PM)

What Color is Your Proposal?.

Yesterday I got this sort of panicky-sounding e-mail:

Subject: Technical proposal.
What does a score of yellow in this area mean?

DOD (and sometimes other agencies) sometimes use a color-coded system to evaluate proposals. I interpreted the above e-mail to mean that the writer had received a "yellow" score on her technical proposal and didn't know what it meant.She may have forgotten to look in her RFP, where the meaning of the colors are usually explained.

The color-coded system is usually something like this:

Blue - Excellent
Proposal demonstrates excellent understanding of requirements and approach that significantly exceeds performance or capability
standards. Has exceptional strengths that will significantly benefit the Government

Purple - Good
Proposal demonstrates good understanding of requirements and approach that exceeds performance or capability standards. Has one or more strengths that will benefit the Government.
Green - Satisfactory
Proposal demonstrates acceptable understanding of requirements and approach that meets performance or capability standards. Acceptable solution.

Yellow - Marginal
Proposal demonstrates shallow understanding of requirements and approach that only marginally meets performance or capability standards necessary for minimal but acceptable contract performance.

Red - Unacceptable
Fails to meet performance or capability standards. Requirements can only be met with major changes to the proposal.

When the government uses a color-coded system to evaluate proposals, the colors indicate the degree to which the proposal has met the standard for each factor that is being evaluated.

(12/12/06 08:42 AM)

Red Teams.

In a nutshell, the process works like this:

Your company identifies people (perhaps 4 or more) to serve as red team reviewers. These people should not have been involved in the proposal in any way, and in fact it's best if they are outside your organization. You will probably need to pay these reviewers a consulting fee for their time. Depending upon the size and complexity of the proposal, the red team review can take from one to several days.

Before the red team begins their work, you'll need to prepare for them. They will need a packet of materials, including the RFP, your final proposal draft, the proposal outline, checklists, instructions, and other relevant materials. These can be put in binders that are distributed to each reviewer. The red team will also need a conference room or other space where they can read and meet.

Once the red team assembles, the Proposal Manager or another member of your proposal team may give a verbal presentation on the proposal: what it is about, some background on the issues, what problems have been encountered in developing the proposal, etc. The Proposal Manager also goes over the instructions with the review team. These instructions should be as specific as possible -- they should tell the red team reviewers what you want them to look for. For example: Is the proposal theme clear and consistent? Are the benefits of your approach desirable and clearly stated? Does the proposal address all of the RFP requirements? Is it convicing? How can specific problem areas be fixed? How could the overall proposal be improved? Etc., etc.

The red team begins its review, first working individually to read the materials and document their comments and impressions. Once this is done, they meet as a group to discuss their findings and to prepare a set of recommendations. When the review is completed, the red team presents its comments and recommendations to the proposal team, which then incorporates the reviewers' suggested improvements.

Besides red team reviews, there are also pink team reviews. But that's a topic for another day.

(12/12/06 08:42 AM)