9 tips on how to convince your cfo to fund your projects
DESCRIPTION
A few shared lessons on how to talk to get projects funded and avoid getting budgets cutTRANSCRIPT
WINNERS AND LOSERS IN A TROUBLED ECONOMY
www.winners-and-losers-in-a-troubled-economy.com
Nine tips on how to convince your CFO to fund your projectsMartyn Perks & Richard Sedley
WINNERS AND LOSERS IN A TROUBLED ECONOMY
www.winners-and-losers-in-a-troubled-economy.com
Build a wall of benefits. Don’t just make sure you’ve 3 killer reasons why you deserve funding. Identify 101 benefits your project will bring. • What will your project mean for staff
retention?• What will be saved through
decommissioning old technology?
• How will man hours be reduced?
1.
Nine tips on how to convince the CFO to fund your projects
WINNERS AND LOSERS IN A TROUBLED ECONOMY
www.winners-and-losers-in-a-troubled-economy.com
Create case studies/stories of success. Success breeds success and quickly takes on mythic proportions within businesses. Use this to communicate the value of our activities
2.
Nine tips on how to convince the CFO to fund your projects
WINNERS AND LOSERS IN A TROUBLED ECONOMY
www.winners-and-losers-in-a-troubled-economy.com
Select what you are prepared to cut and then propose your own cuts first. As well as displaying prudence and acknowledging the need for a tightly run ship, it will help you identify which are the projects you should stand by and choose the battles to fight
3.
Nine tips on how to convince the CFO to fund your projects
WINNERS AND LOSERS IN A TROUBLED ECONOMY
www.winners-and-losers-in-a-troubled-economy.com
Get the CFO and MD to meet customers. It is difficult to imagine what value engagement promises unless you see it in the customers’ eyes
4.
Nine tips on how to convince the CFO to fund your projects
WINNERS AND LOSERS IN A TROUBLED ECONOMY
www.winners-and-losers-in-a-troubled-economy.com
Clearly display cause and effect. If we invest X, we’ll see Y results. However if we invest X+A we’ll get Y+B results.
5.
Nine tips on how to convince the CFO to fund your projects
WINNERS AND LOSERS IN A TROUBLED ECONOMY
www.winners-and-losers-in-a-troubled-economy.com
Know the CFO’s and the MD’s pet hates. They all have one – the website homepage, a particular campaign, the Intranet – and avoid discussions on this
6.
Nine tips on how to convince the CFO to fund your projects
WINNERS AND LOSERS IN A TROUBLED ECONOMY
www.winners-and-losers-in-a-troubled-economy.com
Make your CFO your champion. Make sure he/she can re-articulate the activities you’re proposing and the benefits they will bring. A proud CFO who conveys his enthusiasm for your activities to others will commit resources
7.
Nine tips on how to convince the CFO to fund your projects
WINNERS AND LOSERS IN A TROUBLED ECONOMY
www.winners-and-losers-in-a-troubled-economy.com
Make your projects as cross-departmental as possible. Spreading the budgets, benefits and repercussions makes projects more bullet-proof
8.
Nine tips on how to convince the CFO to fund your projects
WINNERS AND LOSERS IN A TROUBLED ECONOMY
www.winners-and-losers-in-a-troubled-economy.com
No big surprises. Start talking to the CFO now. Make him/her your friend
9.
Nine tips on how to convince the CFO to fund your projects
WINNERS AND LOSERS IN A TROUBLED ECONOMY
www.winners-and-losers-in-a-troubled-economy.com
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