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Published June 04, 2020
A weekly look at issues facing Wyoming business owners and entrepreneurs from the Wyoming Small Business Development Center (SBDC) Network, a collection of business assistance programs at the University of Wyoming.
By Janean Forsyth Lefevre, Wyoming SBDC Network
Small businesses in every industry can potentially expand their markets by selling their products or services to government agencies, and a big part of this is developing an effective capability statement.
A capability statement is essentially a “resume” for your business -- giving contracting officers, small-business specialists and other agency representatives a good idea of who you are, what you do and how you differ from your competitors. You can hand out paper versions of your capability statement at conferences, trade shows and matchmaking events. You can post it on your website and/or email it directly to contracting officers or even prime contractors you hope with which to subcontract.
A critical marketing tool in contracting, a good capability statement effectively and concisely communicates with potential government customers. If you are thoughtful and creative, you can create a capability statement that grabs attention and interest, and potentially leads to exciting contracting opportunities.
Capability statements should be brief and to the point. One single-sided page is ideal. Consider using graphics, logos and other visual elements. But, be sure that it is a high-quality, searchable PDF so you can easily email it to contracting officers and other contacts.
Your capability statement should include:
-- Title: Something as simple as “Capability Statement.”
-- Core competencies: At what are you really good? Keep this focused. Do not try to be all things to all people.
-- Past performance: Who have you worked with in the past? What kinds of jobs?
-- Differentiators: What sets you apart from your competitors? What can you do that no one else does? Or, how do you do it better?
-- Company data: This includes your contact information, website, the North American Industry Classification System/Product or Service Code (NAICS/PSC) codes, Data Universal Numbering System (DUNS) number, and Commercial and Government Entity (CAGE) code.
-- Use logos and graphics rather than text.
Once you have a good draft, be sure to solicit feedback from others, including your Wyoming Procurement Technical Assistance Center. We are available to review capability statements and provide tips to increase their effectiveness.
For assistance with your capability statement, reach out to your local adviser for no-cost, confidential assistance at www.wyomingsbdc.org/sign-up.
The Wyoming SBDC Network offers no-cost advising and technical assistance to help Wyoming entrepreneurs think about, launch, grow, reinvent or exit their business. In 2019 alone, the Wyoming SBDC Network helped Wyoming entrepreneurs start 108 new businesses; create or save 3,402 jobs; and bring a capital impact of more than $24 million to the state. The Wyoming SBDC Network is hosted by UW with state funds from the Wyoming Business Council and funded, in part, through a cooperative agreement with the U.S. Small Business Administration.
To ask a question, call 1-800-348-5194, email email@example.com, or write 1000 E. University Ave., Dept. 3922, Laramie, WY 82071-3922.