The Strong Business Case
In the realm of enterprise software sales, the necessity of a robust business case is more than a cliché - it's a fundamental truth. While the final product's merits - compelling ROI, manageable organizational change, and other benefits - are crucial, the real question lies in the journey to that strong business case and its profound significance.
A truly powerful business case is one where a key stakeholder at the prospect company claims partial ownership. This claim stems from their active contribution to its creation and their belief that its merits surpass competing alternatives within their organization. These champions often view organizational change as a vehicle for career advancement, albeit with an aversion to potential losses. Your software becomes both a springboard for their career and a calculated risk. When they advocate for your solution, they're betting on mutual success - your victory becomes theirs.
However, the strength of a business case isn't measured solely by its numerical projections. Its true value lies in the level of internal advocacy it generates for your solution. If a prospect is reluctant to collaborate with you in this process, it's a red flag that they may be aligned with a competitor. Success in upmarket sales hinges on your ability to guide prospects through the business case development. This process isn't just about numbers - it's a demonstration of your expertise, shaping the prospect's confidence in you and your solution.
In the end, the determining factor isn't just the existence of a strong business case, but who holds the co-authored document. This collaborative approach transforms the business case from a mere financial projection into a powerful tool of persuasion and commitment.
The graphic below is a tool we use named Pipeline Grader. This tools looks across 5 fundamental questions to determine likelihood that a deal is actually going to convert in the near term. One of those questions regards the completion of the business case (collaboratively). The tool reflects that all factors present, the probability of close goes from 60% to 90% (i.e. by an astounding 50%).
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Remember, the business case is more than a document - it's a strategic alliance between you and your champion within the prospect's organization. Master this, and you'll find yourself closing more deals and building stronger, more profitable relationships. Part of the reason, big shops win more deals is they know how to help a champion position himself for victory.
