you can become a federal government contractor for 0 yes that's right my name is kizy Parks I've been awarded well over $50 million I had this question recently come up how much does it cost to set up a Federal Government Contracting Company you can start at zero I know what you all are thinking zero come on she's got to be kidding me let's walk you through it first and foremost what you need is a tax ID number you can obtain a tax ID number as a sole proprietor you can use your legal name to register with the IRS to obtain a free tax ID number you can also create a doing business as connected to your name as a soulle proprietor you can do that next you are going to need an address while here in the great state of Florida you can legally use your residence as your address so no addition cost okay just Bare Bones cuz some places they might charge you to file a DBA but let's just put that aside right then what you do is you go to sam.gov to register your business and once you're there you're going to enter in all this information primarily information about you because you are the business owner you're going to need to show them a copy of your driver's license I believe you're going to have to hold it up and they're going to take a picture of it they need to verify that you are a US citizen they need to verify all the information that you are claiming because by obtaining a Sam approval and receiving that UEI number they're verifying that you can legally receive prime federal government contract so this is important so they're going to ask for information it cost Z dollar to provide this they're also going to ask you for a bank account you registered as a sole proprietor you can give them your personal bank account can you go back and add a doing business as if you want to of course can you change your bank account information later on of course can you change your address of course so to just get started to get that ticket so that you can actually bid on Prime government contracts right now we're at 0 you may be thinking okay kidy but what about when I win work or if some work comes up hey let's say you're in construction let's say you're in training let's say you're in it you're in some kind of services kind of area this is what I did when I first started out I had to take a loan on my 401k account I don't want you to have to do that that was just to pay for my bills okay the way I handle contractors is I did this and this is very important I informed them listen I have this opportunity I have this one-day training event I would love for you to be a part of it I just want to let you know I am not going to be able to pay pay you until after I am paid by the federal government and the amazing thing about the federal government they always pay I have never in over 10 years been in a situation in which the government said I'm just kidding psych we're not paying you try again KY never never never and there are people out there that will say you know what I respect that I appreciate the fact that you told me ahead of time so now we're still at free we're at zero right you use sole proprietorship approach use your home address home phone number your personal bank account and you're informing people I will pay you after I am paid there are also different opportunities if needed to take out potentially some type of credit if you need to buy supplies depending on the company for instance when I first started out W I did not factor in needing to spend thousands of dollars at Office Depot for student materials imagine that didn't even Factor it in and I remember I was in tears learning that the bill at Office Depot States away was so high I didn't know I was going to pay I didn't have money for it and thankfully they said hey we have this internal line of credit and don't worry about it we immediately approved you and you can pay it later on this was not a credit card it was this interesting line of credit that Alis Depot had at the time and it was a godsent because I didn't have the money to pay for any of those things so you never know unless you ask you don't want to be in that position right don't want to be in tears right so there are those type of situations you also may be thinking really I promise you this works because you are the captain of the ship you are the owner of the Government Contracting Company my Flagship company has a relationship with IBM their account payable terms are are you ready for this 90 days 90 days so why is it that IBM can pay vendors within 90 days but you're hesitant to ask someone to perform services and inform them that you will pay them after you are paid why are they on this pedestal St and you're not you're an entrepreneur you're a freaking gocon winner that's why you're here you're amazing so you can do the same thing now digging a little deeper if you need an email address free get it at gmail if you have a DBA it could be jxe gmail.com right it's free again this is something you can change easy fixes let's say you're like man but I'm not going to have a website guess what on LinkedIn you can create a company page from your page for free and what you can do is give out your LinkedIn page and place that in your S profile because LinkedIn is very government friendly no one's going to question it because you're just starting out when you're first starting out you don't want to accumulate a ton of debt you need to focus on getting sales not a fancy website and business cards and an office and a chair and a fancy email address and you have no clients that is a going out of business approach and that's not how we are cuz we are gocon winners y'all know this also in case you're like well what about a logo with my color scheme free let me show you there are numerous websites like this you literally go to Google and you type in free logo and you're going to see a ton of them this is the first one I chose I've used brand crowd before and I have used others for different projects say your company's jxe let's say we want to say Federal Government Contracting ooh icon and text or text only I'm going to do both and you can see it has generated 9600 logo design and these are sweet that's what's so cool about it there's got to be something here that you can stand by that you're like look it's free I can use this in the intrum why not and you can change things up it gives you all these cool little options I mean this one is nice you know just you just need something basic the government isn't going to purchase from you because you have a multi-million dollar logo unless maybe you're selling them logo Serv services or something but I have never in my life had your agency say oh my gosh kissy it looks at your proposal and your cover sheet and Logo KPC it just blew us away we want to give you this contract please take this contract m- no it's you it's your value and that is how you start out in this space for 0 my amazing govcon winner I love you all so much I'm so grateful to you comment below anything I missed anything else you want me to cover I would love to do it please hit that notification button subscribe don't forget especially all my returning people and if you're new you're going to hear it everything is possible