Four Tips for Better Business Case Presentations

If publishing or presenting a product business case is in your near future, make sure you avoid the common mistakes that can lead to a quick “No” from the executive team. Here are four “checklist” items to help make your pitch a success, thanks to our own and our colleagues’ hard-won experience:

1.  Tell a story
You have a great idea for a new business opportunity that you believe will be profitable for the company and great for your career. Now you just need to convince the budget owners that you’re right. Tell a story that leads your decision makers from Point A (where we are now), to Point B (the opportunity and why it’s a great fit for the company), to Point C (how and when we’ll make money on this opportunity).

2.  Make the business model clear and believable
One of the toughest questions you can expect is, “How are we going to make money?” Your modeling should include your assumptions about market sizing and segmentation, cost and (realistic) time required for product and channel development, pricing, and promotions. The trick, however, is to boil this down into a form that the busiest executive can quickly understand. Having credible data sources is key, especially in emerging or volatile markets.

3.  Consider presenting a couple of options
In some organizations it’s best to give the executive team two viable options to consider, and make your recommendation as to the best option. Ask a few experienced managers if this is a preferred practice in your organization. If so, your business case becomes more complex — you’ll need to further summarize the two options and compare the investment, risk, and opportunity for each.

And don’t forget about the internal competition — you may need to show how your business case compares to other opportunities that are competing for resources. The supporting detail you provide in the “story” will demonstrate how the opportunity supports the company strategy.

4.  Ask for the official Yes
Not "closing" is one of the biggest mistakes that Product Managers make when presenting a business case for approval. Senior executives tell us, “If they don’t hear a Yes from the executive team, they should assume it’s a No." If the executives aren’t ready to make a decision, get a date for a follow-up meeting and be sure that everyone is clear on what’s needed to make a decision at that time.

To learn many more Business Case tips and best practices, register for the April 16th Business Case Secrets of the Pros workshop. Our contribution to economic stimulus is this special offer: Bring a friend or colleague, and they get in for half price. Click here for more information.