Three Classic Business Case Mistakes

Last month we talked about tips for better business case presentations. This month, let’s talk about something equally important: what to avoid. Here are three common pitfalls we’ve seen in presenting business cases.

1.  Put the detail in the right place
Resist the temptation to lead your executive team through every detail – you’ll lose most of your audience in three minutes or less. Instead, start with the big picture and drill down in detail only as much as is necessary to support your business case. This method works for you in two ways: it immediately engages your listeners in the vision of success; and it allows you to get the most salient points of your presentation covered within a short amount of time, in case anyone gets called out of the room. (That never happens, right?)

2.  Don’t gloss over the numbers.
Yes, it’s detail. But not having believable revenue and other key figures will undermine your credibility. And possibly cost you not only this proposal, but the opportunity to present again. Work with your Finance team to project the numbers over the right time horizon, and make sure they support the company’s financial objectives. Even the most engaging product ideas fail – and they should fail - when they don’t adequately address the financials.

3.  Do your homework.
Before the presentation, sit down with your team and think of questions that you hope your Executives don’t ask. Then, plan your response to those questions and practice until you can answer confidently. Too many "Uh, we’ll find out and get back to you." responses will make you seem unprepared, which erodes trust, and can torpedo an otherwise great business case.

There are many more ways to fail, and even more tips to build and present successful business cases. To learn them all, join us on April 16th for Business Case Secrets of the Pros. Take advantage of our special "Bring a Friend for Half Price" offer to make your budget go farther! Click here for more information.