For some businesses writing, developing and designing a capability statement can be a task that prove overwhelming to them. Do I really need a business capability statement, what should I or what should I not put or include in it, how do I put together the information needed for a capability statement, how many words should be written, how many capability statements should be written, how should I present the capability statement are some common questions that plague the businesses. Added to that, the deadline and collection of resources also challenges them. So much so, that you start questioning or putting off writing and designing a capability statement.
Below are 14 reasons on why you need a capability statement:
- It will open the door to begin business relationship building
- You can get a meeting scheduled with the decision makers
- You can use it as a marketing a tool during conferences and trade events
- It is great for other networking events and sales calls
- You can use it to stand out from the crowd and your competitors
- If you are a sub contractor, you can use it market to prime contractors before you agree and enter into an agreement
- A capability statement serves as an electronic summary about your company does
- It is the perfect tool to represent you in your absence
- Mitigate risk: proves you know and understand the market,
- A capability statement can be used for advertising/promotional purposes
- If you are targeting more than one industry or market, you will need a capability statement that should be tailored according to the audiences
- You can use a capability statement as a part of your business plan
- You can upload your capability statement on your website
- You can use a capability statement to obtain capital or financing
Allow me to explain some of the above points a little more.
If you plan to collaborate with the government and win a federal contract, there is one thing that you need to have readily with you. And that is your company capability statement.
When the government issues a RFP, it expects you to submit your tender proposal along with a capability statement for a government contract. Not attaching your small business capability statement can get your proposal rejected.
You have the opportunity to stand out against your competitors. A well-designed, well formatted and customized capability statement is what will give you the advantage to beat the neck to neck competition. You will need a solid capability statement template for that.
Capability statements are used not just for winning government contracts. Capability statements are also used for corporate marketing and promotional purposes.
A capability statement is great for networking events that you attend or want to attend. It comes handy for advertising/promotional purposes. It is a common practice to carry business cards or brochures to represent your company and build your list of contacts. Although business cards and brochures are great for connecting and pitching your company, a creative capability statement gives you an opportunity to tell about your company, its history of the company, its key members, and validate its credibility etc.
When your company needs capital or financing, a capability statement is what you need to include in your business plan. As your business grows or diversifies, you may need to rework on your business plans. And your business plan should include a strategic and structured capability statement. Your company capability statement will help your investors in knowing the accreditations and the achievements of your company. This will help them in evaluating and deciding whether to fund your company.
Your capability statement should also be uploaded and visible on your website. When your prospective clients or customers visit your website, they might not have enough time or patience to go through every page of your website to see who you are, what you do, what products or services do you provide etc. If you don’t upload your business capability on your website, it can put off or turn away your prospective clients and customers. The only way to attract your prospective clients and customers and make them stay on your website and compel to know more about you is by having a well formatted, creative and structured capability statement with an attractive design.
If you need help in crafting a well designed, tailored and structured capability statement that will truly stand out from your competitors, contact me today.