GOVERNMENT CONTRACTING: Lesson 4
Veronica Clark, the West Tennessee PTAC consultant for the University of Tennessee center for industrial services procurement technical assistance center, goes over capability statements. She discusses in detail what are capability statements, components of capability statements, what to include on your capability statements, and extra tips for success.
Video Lesson Topics
- What are Capability Statements?
Your capability statement is essentially your one page business resume. Since it is a marketing tool, you want it to be professionally designed.
- Components of Capability Statements
- Component 1: Core Competencies- These are your buzzwords and keywords associated with the services you provide.
- Component 2: Differentiators- What does your value add? What measurably sets you apart from your competitors? It is not enough to simply say that you are a trusted resource; you have to prove it. What metrics do you have in place to show that you are actually trustworthy?
- Component 3: Company Information- You cannot be contacted if people do not have access to your name, phone number, and email.
- What to Include on your Capability Statement
It is important to include your website, along with your duns number and cage code. Cage code stands for commercial and government entity; you will only have a cage code on your capability statement if your target customer is going to be the federal government. You also want to include your North American industry classification codes, which is the six digit number that the federal government uses to classify your products and services. Include the certifications that you have, along with your past performance. Tailor your past performances to your target customers.
- Tip 1: Keep it one page.
- Tip 2: Make it aesthetically pleasing.
Topics & Lessons
Each Below Topic Contains a Video Lesson and Helpful Downloadable Information
Benefits and Risks
Optional Certifications for Contracting
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