A Wealth of Learning Opportunities – and Resources – at Your Fingertips
Knowledge is power. Imagine what you could do with 24-hour access to a powerful learning community to help you stay up to date with the latest trends, insights, news, and best practices to share with your valued clients. XPX’s exclusive Knowledge Exchange is the one place where you can exchange knowledge with some of the industry’s most successful professionals with expertise in a wide variety of areas. Here are recent posts from our chapter activities and members:
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The Annual Government Contractor Awards celebrate Small Emerging Contractors Advisory Forum (SECAF) members and other government contracting organizations that have demonstrated a commitment to industry excellence. Award categories showcase companies of all sizes, plus key projects and outstanding executives. Your clients and exit prospects in the GovCon industry can benefit from the exposure that comes with being considered for one of these prestigious awards. This event is attended by many organizations and private equity firms with interest in acquiring smaller government contractors and nomination can give your clients visibility before the larger acquirer community. Award winners will be selected from a group of finalists in the following categories: The SECAF Government Contractor of the Year award recognizes companies that have shown a compelling and profound commitment to excellence in financial performance. There is one award per revenue category: SECAF Government Contractor of the Year (under $7.5 million in revenue) SECAF Government Contractor of the Year ($7.5 to $15 million in revenue) SECAF Government Contractor of the Year ($15 to $27.5 million in revenue) SECAF Government Contractor of the Year ($27.5 to $50 million in revenue) The SECAF Award of Excellence award highlights organizations that represent excellence within their respective communities, the government contracting industry and towards employees. To qualify for this award, organizations must have under $50 million in revenue and be an active SECAF Member. The SECAF Government Project of the Year award recognizes companies that have delivered an exemplary program with significant value to the federal government. To qualify for this award, organizations must be an active SECAF Member. The SECAF Executive of the Year award is presented to an Executive (such as a CEO, President, Founder) who has shown a profound commitment to excellence to their company, the community, the government contracting industry and towards their employees. There is one award per category: SECAF Executive of the Year (Under $25M) SECAF Executive of the Year ($25M to $50M) Visit for more information.
Please join us on February 29 for our 20th annual Cocktails and Conversations program, presented by the Women’s Network of Miles & Stockbridge and featuring Brooke Lierman — the 34th Comptroller of the state of Maryland and the first woman to be independently elected to one of our state’s constitutional offices. We’ll kick off Women’s History Month a day early — on Leap Day 2024 — with a fabulous group of women celebrating women. And, we’ll take this “extra” day of the year to focus on making new connections, sharing ideas and focusing on the WHM theme of “Women Who Advocate for Equity, Diversity and Inclusion.” We look forward to networking with everyone while enjoying hors d’oeuvres and cocktails overlooking Baltimore’s Inner Harbor, capped off with a dynamic talk from our speaker. Register online at
What makes an established business “bankable” as opposed to perpetually seeking investor capital? The standard suite of financials a bank looks for are pure data, such as the income statement, balance sheet, and AR-aging. These are backward-looking, based on past performance. However there are also a number of reports a client can create themselves that will help a bank grow comfortable with financing. Work In Progress (WIP) – this is a report with some standardized fields that will show current contracts a business is performing on. It is typical to include total value, % completed, and anticipated extensions Profit and Loss projections – for any business requiring capital for expansion, two years of projections are a MUST HAVE, preferably with the first 12 months broken out monthly. There should be detailed expense line items, and a list of assumptions. Pro tip: Don’t be too conservative as the bank will be conservative for you. It’s common to see high / low / mid scenarios with projections. Contract waterfall – specific to government contractors, this is similar to a WIP with some additional contract related fields Business plan – for a new venture or business expansion, this includes some details for what the business hopes to achieve. What business need will this solve? Who will the new customers be? What are the differentiators that make this company better than the competition? What are the risks associated with the venture? In addition to helping justify debt service and cash flow, professional reporting can demonstrate that a business has competent management. In case your client doesn’t know where to go for assistance, we have many professionals within XPX able to help!
Government Contractors generally operate and are sold in ways that can minimize any potential negative consequences of operating as a C corporation. There are certain benefits for the entity and its owners for operating as a C corporation compared with flow-through entities. The attached article discusses the financial, income and estate tax advantages and disadvantage of a government contractor converting from operating as a flow-through entity to a C corporation. I hope you find this Article helpful. Have a great weekend. Stuart Stuart H. Sorkin Managing Member OFFICE 301.320.1152 MOBILE 202.368.7075 EMAIL stuart@businessandlegaladvisors.com Aligning Your Personal & Business Goals Towards A Successful Future 7811 Montrose Road, Suite 500 Potomac, MD 20854 Government-Contractors-Conversion-to-C-Corporations
We can’t wait for you to experience the cleaner, brighter and more user-friendly feel of our new platform! The site is designed to give you and your company greater visibility. Here are three things you should know: Emails from XPX will now come from my.exitplanningexchange.com—please adjust your email settings! Your new profile can have a higher resolution photo and logo—please log in (upper right) to add those now! We’ll be hosting drop-by visibility trainings in September—be on the lookout for an announcement with exact dates! Have issues or questions? Please email me at cheryl@exitplanningexchange.com
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Program produced by Scott Snider is the Vice President of the Exit Planning Institute (EPI) and the Operating Partner of Snider Premier Growth, a small family investment company. At EPI, Scott is responsible for the strategic direction of the organization along with overseeing the company’s operations and chapter development. Since joining EPI, Scott has expanded the organization regionally, nationally, and globally, providing a transformational educational experience to advisors from all specialties across the globe. He leads his EPI Global team from the Cleveland headquarters office.
Shark Tank star Mark Cuban has been a startup investor and serial entrepreneur since his teenage years selling garbage bags, creating chain letters, offering dance lessons, and even running newspapers from Cleveland to Pittsburgh during a strike of the Pittsburgh Post-Gazette. Mr. Cuban is ranked #177 on the Forbes 400 list for 2020 with an estimated $4.3B in net worth. Anyone who has listened to Mark knows that he has a lot to say and has very strong opinions on many topics. My goal here is to summarize how to be successful in business, especially for entrepreneurs in the startup arena. I’ve distilled Mark’s approach down to 7 key factors. Click on the attached article to continue reading.1 file
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