You’ve worked hard to prepare an air tight business case for that new product idea or that additional investment your current product needs to take it to the next level. You’ve clearly quantified the opportunity, identified the product solution, crafted the marketing strategy, thought through all possible risks and mitigation strategies, validated all assumptions, analyzed the investment requirements, and have developed a robust, stress-tested ROI model. You’ve vetted the business case with your boss and his or her boss as well. You’ve even practiced your presentation in front of the mirror. Despite some understandable anxiety, you’re feeling confident. You’re ready.
But your presentation ends in disaster. Your business case, while solid, falls flat. The execs either trash it completely, or worse, end up making no decision at all leaving you in limbo with no direction whatsoever. What happened? What did you miss?
In a nutshell, the people factor. When I started out, I thought if I had a well thought out presentation backed by solid analysis, that would be enough. After all, that’s what they taught us in business school, and it’s what the experts tell us we should all be doing. Good enough, right? Wrong. What I learned in the real world is that at the end of the day business runs on people, and you need to get people on your side if you want buy-in for your ideas and proposals. Yes, your analysis and recommendations have to be solid – that’s a given. But if number crunching and logic were all it took to convince people, this would probably be a very different world.
I learned that “pre-selling” ideas are critical to getting buy-in for my proposals, be they from execs or even among peers. And to do this, understanding “trust networks” is critical. This means figuring out who trusts whom, who has credibility with which folks, and understanding the personalities involved – what are their motivators, concerns, agendas. And the larger the organization and the more layers between you and those whose approval you seek, frankly, the more intricate the trust networks and the more “pre-selling” you will have to do.
The goal here is two-fold. For one, you can identify potential concerns and challenges early, and so be prepared to address them during the formal pitch. Second, in a ideal situation, everyone is already pre-sold on your proposal, so the meeting is really more of a formality with everyone at the table prediposed to nodding their agreement.
It’s tough work, and it requires its own special planning. But if done right, it can make your actual formal presentation go a whole lot smoother.