Interview with Katie Bilek, Co-Founder, govmates Consortium; SVP, Republic Capital Access

Katie Bilek says the key to her effectiveness is figuring out how to add value, how she can help solve a problem and listening and understanding the needs that the other person has.

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Guest - Katie Bilek
Host - Carl Grant
Producer - Seth Grant

Transcript

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Carl Grant: 0:08

Welcome to Rainmakers. I'm here with Katie Bilek co founder of Gov mates and senior vice president of Republic Capital Access. Welcome, Katie.

Katie Bilek: 0:18

Hey, Carl, thanks for having me.

Carl Grant: 0:20

You bet. So you and I have known each other for a while. And I've known known you as somebody who is really good Katie, at developing relationship, and then staying in touch in nurturing that relationship. And so, talk to me a little bit about how your relationship development works into your job over at your company.

Katie Bilek: 0:43

Sure, so I would say, you know, as I get to know, folks, really, I think that the key thing is figuring out how I can add value, how I can help solve a problem. And I think that really boils down to listening and understanding the needs that the other person has, you may not be always you may not be able to solve the problem for anyone initially, but there may be someone in the network that you know, who could be helpful. But it boils down to listening and having a really good understanding of the folks that you're working with as far as what makes them tick, and what their what their needs are. Those needs evolve over time. So while I may have met someone five years ago, you know, there may not be an actual need for the services that we have until say today. But that's okay, just staying and regular dialogue, and just over time trying to find ways to add value. Eventually, eventually, they'll ultimately be a need, where I may be able to come in and provide that financing for their business,

Carl Grant: 1:43

Lets talk a little bit about Republic capital access. So you provide debt financing, and then you're paid back out of revenues, correct?

Katie Bilek: 1:51

Sure. Sure. So to clarify, Republic, capital access, so we're the largest finance company dedicated to government contractors, we provide non recourse off balance sheet financing, so technically, it's not classified as debt. From an accounting perspective perspective, it's booked as the sale of an asset off balance sheet. So we purchase receivables generated from government contracts in a true sale fashion, we are essentially taking you on the credit risk of an obligor of a receivable, ie the federal government, which for now knock on wood is investment grade. So as a result, it lowers DHEA. So it lowers leverage ratios, it's actually a unique product that can layer in adjacent to other pieces in the cap structure.

Carl Grant: 2:37

So it sounds very complicated, but you make it seem so simple. When when you know, when I'm out in the marketplace, and I see somebody that has a government contract, and they need kind of money to get going here or move towards it, I would think of you because you're ever present in the marketplace. You also have this thing called GovMates. Tell me about that. And and how did that come about?

Katie Bilek: 3:02

Sure. So GovMates, is a woman owned business. I started with my co founder, Stephanie Alexander, now, five years ago, and GovMates is a teaming partner platform for federal contractors. So by virtue of where we sit in the marketplace, I was always getting calls from large systems integrators, defense primes, and increasingly government agencies, kind of to do tech scouting and find really cool small businesses. And Stephanie and I said to ourselves, do you don't they have their own database? Don't they have resources that they can turn to? And the short answer is yes, but they may not be as user friendly, the data is not fresh. So he said, Let's build that. And so that's what we did. So my now we have over 3500, non traditional defense contractors, ie small businesses and our membership. We joke about governments being like match.com for GovCon. But you know, as an attorney, we can't say say that or else we would get sued

Carl Grant: 4:01

Im not a attorney, I work for a lawfirm but I'm not an attorney.

Katie Bilek: 4:04

So GovMates. It's free for any small business, any non traditional to join. We're simply collecting all the criteria that matters from a teaming and procurement perspective. So their capabilities, their customer, past performance, contract vehicles, NAICS codes, clearances, certification set asides, you name it, and then from there, they are eligible for teaming and procurement opportunities so that when Boeing Booz Allen, Lockheed, or insert government agency name comes to us looking for an innovative, non traditional, our algorithms are able to produce reports of profiles of those companies are the best match and incorporates relevant scoring and we facilitate introductions for who ever wants to meet them. So it's an efficient, effective way for larger organizations or government agencies to find small businesses. And then on the flip side, for those small businesses, it's a free business development tool for them. That increases their visibility and potentially is going to bring them more revenue.

Carl Grant: 5:05

And I imagine that it seems very consistent with with your job over a republic, that you've also benefited Republic capital access from having all those connections.

Katie Bilek: 5:15

I think it definitely helps to solidify our place in the market and our commitment to the federal space. You know, Republic as we provide financing, we really want to help our clients grow. So if we can help them find teaming partners to win that next bed, we will absolutely do that.

Carl Grant: 5:31

So I've noticed over time, getting to know you that you're you're very connected into the veteran space. How did you you don't have a military background? How did you get into that? And how did you develop that interest?

Katie Bilek: 5:43

Sure. So yes, clearly, I'm not a veteran, but I'm the wife of one. So I would say, we're not my my background, I started my career on Wall Street, I was actually in Silicon Valley at Goldman Sachs and I was covering tech funds hedge funds. I made the move to DC when my husband got moved to a unit based down in Quantico, one that deploys to garden spots like Afghanistan and other fun places in the Middle East. So I moved from, you know, tech, central Silicon Valley to the DC area. And his during his first deployment, that I felt all of the NX, that a typical, you know, a spouse would feel when their significant other is deployed. And that sense of helplessness. And I felt the need to, to contribute and give back, but I didn't know how I could. It was in that period that I helped to form what is now called the National Veterans small business coalition, and I serve on the board, and helping specifically military veterans, entrepreneurs in the federal space, to win more work. And that was also around the timeframe that I started to get the idea for governments and to help, you know, not just veteran owned businesses, but any company that is supporting the warfighter, and the mission. So it was through my experience, and just kind of that feeling of helplessness, that I decided that I had ways that I could truly take action and make a difference through my work.

Carl Grant: 7:16

That's great. So Katie, one thing I can say about you is you you have really differentiated yourself in the marketplace. I know, I'm approaching 15,000, LinkedIn connections, and I can count on one or two hands, like the people who really stand out as being amazing at what they do. And you're one of those people, because you're a giver, not a taker. And I always feel indebted to you. So when I would meet with you, I don't interact with enough government contractors to give you enough meaningful leads, I interact with some but but it's not the core of what I do most of the companies that deal with our commercial, as I imagine you, you must take this approach with a lot of people in your network, and it must come back to you in spades. Talk to me a little bit about how that works. And what's going on in your mind as you go about doing what you do?

Katie Bilek: 8:05

Well, Carl, I think it's just you have to take the approach that you do right by people and the business will come. I think it's as simple as that. Don't look at every interaction as a transaction, it is relationships over transactions. And that's that's our tagline at Republic actually. But I do truly believe that just if you do right by people, if you are helpful if you're resourceful, and then the business will come. And that has proven itself. And, you know, we all Yes, we all work very hard. We you know, we're pounding the pavement and in this weird COVID environment, you know, we're definitely stretched thin as far as resources are concerned. But those relationships still exist over time. And like I said, they're not individual transactions. It's something to nurture over the long run.

Carl Grant: 9:01

Yes. So I guess it's, it's good to have people like me out there feeling indebted. Right? Because Because you never know. So I got an email from you. Let's catch up, you know, and I forgot that you went to University of Texas, and here I am in Austin. And, and so, you know, I don't know what you're thinking when you said, Let's catch up. But when I when I got the email from you, I thought, Oh, I gotta have her on my podcast. She's really good. You know, she gets this stuff. And and so do you have a lot of people out there that feel the way? I do, do you think?

Katie Bilek: 9:33

Alright, you know, I do have quite a few connections. But I think that just by virtue of again, where I sit in the government contracting ecosystem, wearing my hat at Republic capital access, as well as governments and just, you know, constantly interacting with a lot of folks and that that network has grown nationally, I think, where are we now set with COVID you know, you know, forcing us indoors and not really leaving our homes at least here in the DC area, Carl. You know, it's for us. To look outside, virtually, to find ways to reconnect with folks, pre pre COVID, might very last trip that I took was actually to Austin, for what was going to be South by Southwest. And I had incredible meetings with folks in Austin. And yes, being my hometown. It's got a special place in my heart. But I think one thing that COVID has also taught us is that there are no longer those geographic boundaries. It's simply a zoom, or, you know, a team's meeting away from being able to connect with someone in a different time zone. And that in itself is pretty liberating as well.

Carl Grant: 10:37

Yes. while we're talking, we're in this environment, and hopefully, we won't be in this environment forever. But how? How is your work life change? Like how have you connected with people have you have you connected with new people, virtually Have you stayed connected with people that you knew, and how much of this is here to stay going forward, even when we don't have the, you know, the regulations of having to stay in our homes.

Katie Bilek: 11:02

And so all of the above the platforms out there, like zoom and teams have enabled us to stay connected with existing relationships, I think, because we were so early on forced to use these platforms, that then made it more acceptable to use zoom and teams to connect with new new folks. And to make new relationships, you know, pre COVID, would I have, you know, offered a zoom meeting to someone I'd never met, probably not, you know, an in person meeting would be more appropriate. But now it's it's forced the issue to where now we are all at this point, and where we are in COVID, very comfortable with using those platforms. So I'm grateful for that, because it enables us to build relationships and other geographies where maybe historically, we would have, you know, waited to get on a plane, to be able to see people in person. I love the idea that, in one sense, this breaks down the barriers to entry for a lot of small businesses and non professionals in the federal space. Think of all the big federal contracting conferences, the Federal customers that folks are trying to get access to your when they had to hop on a plane to go to the Pentagon? Well, now you've got organizations like AF works, who are doing a tremendous job, where they are tapping talent and resources all over the country to attend these virtual events where they're gaining access to government customers, venture capital funds, folks like you and me, all through just a virtual event. So I think, in going forward the way of the future, we're going to have a hybrid approach. And as you as you like, I definitely value the in person interaction with folks. But there is definitely a time and place and there is value in the virtual component of things as well.

Carl Grant: 12:48

Yeah, I agree. I, although some things cannot be replicated virtually, like South by Southwest that you mentioned, I was planning to attend South by Southwest and I didn't go because it was canceled. I don't think that can be replicated virtually. They're gonna try it this year. I'm not attending, I just can't, you know, it's not really for the conference that I attended for the 1000 other, you know, side events that happen at the event, so I don't I don't know that that's gonna work. So

Katie Bilek: 13:15

Yeah, and I and I, I completely agree. And and I don't get the the tacos and the barbecue either virtually. So there are some things you definitely miss out on when you do it virtual.

Carl Grant: 13:29

Yeah, so I I'm at the stage now where now that some events are starting to be held, again, like Florida, in Florida, they're having their venture fair. down in Florida, I, somebody asked to meet me there. And I was like, Oh, my gosh, I didn't even know it was being held, you know. So some of these things are starting to come back. And as they're starting to come back, I'm I'm starting to say now, I'm not going to do this virtual thing. So I think, you know, those of us who have been doing virtual stuff for a year early, kind of done with it. I mean, we'll do it if we have to, but it's just not the same. In granted. I'm in Texas, and I've been to Florida. And those two states are much more open than other states. And once you've tasted it again, it's really hard to go back. And so I I don't know if you have any thoughts on that, if you think people are gonna stay with the virtual stuff, maybe that portion of the population.

Katie Bilek: 14:17

So I here's an example, at GovMates, we host egular training and educational ontent. It's called the ovMates Institute. And prio to COVID, our institute even s were typically half day even s in person in the DC area sinc COVID hit that has migr ted to a virtual setting. And hile Yes, we love the in pers n interaction, one thing that virtual setting has allowed us t do is engage our members all ver the nation. Previously, we w uld have enough advance noti e for our members to where if s meone wanted to attended an inst tute, they would hop on a plan and that literally happ ned every single Institute. We h d a lot of demand for it. But ow again, those those barr ers have been broken down. So w hosted an institute Last week on the topic of access to capi al, and we had members from all ver the country, Silicon Vall y, Austin, Michigan, Mass chusetts in the DC area, we'r watching virtually. So goin forward with the Inst tute, we're going to offer a co bination of both, we will offe the in person events, we'l offer them in multiple geog aphies. But then we'll also have a steady stream of virtual even s as well, so that our memb rs who are in other geog aphic locations with maybe not s many resources to be able to h p on a plane and fly to DC, that they have options as well.

Carl Grant: 15:33

Yeah. So I always like to end these interviews with a question about if every young person, a student, somebody who wants to get into what you're doing, they think your job at Republic capital access sounds really cool. Or Gov mates that you formed. Sounds exciting. What advice you have for somebody young, who's wanting to aspire to do what you do? What advice do you have them have for them to do now?

Katie Bilek: 15:56

I would say, obviously, work hard, but learn how to be resourceful. Find ways to add value to whatever team you are working with. Find ways to make other people's lives easier. It could be little things, but those little things add up. When I when I started my career at Goldman, I was on a trading desk and every morning at 4am, we would start the morning call in the morning call cover the day's research, everything that was being pushed out by by Goldman research for the day. And I ended up taking literally transcribing notes of the entire research call and compiling those into little sound bites. Over time. My notes from the morning research call ended up being disseminated across the world to other folks within Goldman who would then use that to push out to their client base. And so they came to look forward to every morning, getting my notes on the morning research call, which initially was just for myself and my immediate team in San Francisco, but then grew to become an incredible asset for folks around the firm. Who would have thought that taking notes literally transcribing notes on a call it becomes so valuable. Things like that. Again, being resourceful and learning to add value to a team is critical to helping to take yourself to the next level.

Carl Grant: 17:18

Katie Bilek, th nks for joining me, Senior ice President Republic Capit l Access and co founder of ovMates. Thank you for oining us. If you like wha you heard today, please sub cribe and share it with your fri nds. Thanks for joining us