Selling Ideas with Business Cases

1. Selling Ideas with Business Cases Executive SummarySelling Ideas with Business CasesYour budget has already been reduced drastically this year. Expenditures are beingexamined very closely by Finance, and projects that do not provide a clear return oninvestment are being chopped. If this is your situation, you need to read thissummary. When times are tough, it is critical that you demonstrate the value ofevery proposed investment in a clear, logical manner. Use Demand Metrics BusinessCase Template to help you justify spending for additional staff or other neededresources.What is a Business Case?A Business Case is a formal management communication document that provides anopportunity overview, key success factors, assumptions & decision-making criterion,business impact analysis, sensitivity analysis, risks, contingency plans, and action-oriented recommendations.How do Business Cases Sell Ideas? • Demonstrate Preparedness - to increase credibility, document your idea in a structured format that is easy to understand. Demonstrate your thought process, research method, and assumptions, to reduce objections. • Analyze Cost/Benefit & ROI - clearly document costs & benefits to perform a business impact analysis that shows how your investment will provide measurable returns. Dont forget about qualitative or intangible benefits that add value but may be more difficult to quantify directly. • Simplify Decision-Making - being proactive and providing a business case makes it much easier to make decisions to approve or deny projects. As you have already done most of the required critical thinking, approval rates go up.Action Plan:Familiarize Yourself - use Demand Metrics Business Case Template to understandthe framework for effectively pitching new concepts and ideas.Try a Test Business Case - next time you are looking to get a budget approval,insert your ideas into a Business Case. Next, confirm that your management teamagrees that this communication method makes it easier to assess value. © 2009 Demand Metric Research Corporation