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Leadership Tip of the Day for Busy Leaders: Writing a Business Case
It’s amazing how just a little bit of process can make a big difference in making better decisions and pushing an organization along. Join Bob and Jed this week as we talk about building a business case in just a few easy steps.
Monday's Tip (Writing A Business Case): Define the benefits clearly. Before you get bogged down in the details, make sure you can clearly and concisely define the benefits. Write your “elevator speech”.
Tuesday's Tip (Writing A Business Case): Describe your current situation to highlight the gap. Why are you proposing any change? Illustrate for people the desired future state or performance compared to where you are now.
Wednesday's Tip (Writing A Business Case): Define your criteria for success. How will you determine when you are successful? By what measures will you assess the success of your plan? Determine ahead of time how you will measure your progress and success.
Thursday's Tip (Writing A Business Case): Reach out to those whose support you require. Don’t surprise anyone with what you might need from them to push your cause along. Negotiate support and involvement ahead of time, when writing your business case.
Friday's Tip (Writing A Business Case): Sell it. It is a common mistake to think that all good ideas are self-evident. This is how many great ideas die. There's always a “sales and marketing” component to getting people to do anything differently than what they're currently doing.
3 Things to remember about Writing A Business Case:
1. Ensure that the document is clear and succinct. Minimize the use of jargon, and speak in clear and concise terms.
2. Include facts – you have done your homework and here’s your chance to prove it.
3. Sell it! Talk to people about the benefits of pursuing your idea. Illustrate the value the project brings to the organization, customer and financial bottom line of the business.
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