12 Steps Business Case Development - Marketing Components

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When evaluating your business case, company decision makers are interested in how your proposed project intends to reach customers and create sales.

Marketing Components
You present this information within the marketing components section of your business case.

The business case should include five marketing components: the research plan, project features and benefits, the creative plan, the marketing communications plan, and the sales plan.

The research plan details how your team intends to gather and analyze information about existing customer needs.

The project features and benefits component outlines the features and benefits that the project will bring to the organization, such as increased inventory turnover, access to new customers, and reduced staffing levels.

The creative plan outlines how your team is going to inform customers about your product. This plan should be simple, memorable, and focused on the benefits of the proposal.

The marketing communications plan details how time and money will be allocated to distributing product information to customers.

The sales plan communicates strategies for acquiring new business, growing existing business, and making or exceeding sales.

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12 Steps Business Case Development - Business Case Elements

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A business case is a document that defines your project and its goals. It helps you allocate resources, make provisions for unforeseen obstacles, and facilitate good decision making. Basic Components The basic components in a business case include a current and pro-forma balance sheet, an income statement, and a cash flow analysis.

Business Case Questions
A business case should answer some important questions about your proposed project: Why is the proposed solution needed, and what issues and opportunities does it address? What is the recommended solution to the issue or opportunity being addressed? What are the benefits of the proposed solution? What will happen to the business if the project is not undertaken? When will the solution be deployed? What human, financial, and time resources will be needed to deliver the solution?

Example - John HR Manager (I) 
John is an HR manager for a large software company. He's been working on an initiative for an improved records-management plan for the company. John believes that there's a pressing need for the organization to meet its legal and business obligations by improving access to records and information.

The senior executives in John's company require a detailed justification of John's business proposal before they will consider it. John has never drawn up a business case before, and needs to know what elements to include in the document.

Business Case Elements (I)
A good business case must contain certain elements: background, executive summary, situational assessment and problem statement, project description and solution description.

Background
The background outlines the business problem or opportunity that exists. Executive summary The executive summary is a short summary of the entire business case. It is presented first, but is usually written last.

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12 Steps Business Case Development - Business Case Functions

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A business case gives key decision makers an overview of a project. And, it can also help you to secure the resources you require for a project. When writing a business case, you should bear in mind its function - what you and the decision maker want the business case to do.

Business Case Use
A business case defines a problem or opportunity, and outlines the steps that you intend to take to deal with the problem or opportunity. You use a business case to convince the decision makers in your organization that your project is deserving of resources. A business case also serves as a project blueprint, which can be referred to throughout the project life cycle to ensure that everything stays on track.

Business Case Functions
The main functions of a business case are to describe the problem or opportunity facing the company, what will happen if the project is not implemented, how the project will address the issue, how the project will be implemented, and the resources required to implement the project.

Example - Regional Manager
To give a practical example, Robert is a regional manager for a clothing retail company. Having identified a fall in sales revenue in some outlets on the West coast, he proposes to consolidate some of these outlets to reduce costs. In his business case, he gives details of the downturn in sales in these outlets.

He provides a "do nothing" scenario, stating that inaction on this issue will result in increased costs and possible damage to the company's brand image. Robert's business case proposes to address the issue by consolidating several West-coast retail outlets into two bigger outlets in prestige locations.

It describes how each phase of the consolidation will be executed, and provides an estimate of the personnel and financial resources that will be needed to implement the project.

Supporting Decision Making
Now, the information in a well-written business case can enable the decision maker to do a number of things: compare proposed projects, clarify complex information, and make an objective decision.

Compare proposed projects
The decision maker needs to compare the recommendations, pricing, and evidence in your business case with those for other proposed projects. He/she may have to deal with a lot of conflicting information, and may have little practical knowledge of the subject area. (...)

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12 Steps Business Case Development - Benefits of a Good Business Case

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Being aware of the benefits of creating a good business case can help to motivate you and your team. It is important that you know when it is appropriate to write a business case, and that you have a clear vision of what you hope to achieve with it.

A business case is, above all, a selling tool. You use a business case to persuade senior executives in your organization that your proposed project is more deserving of budget approval than other competing bids.

Business Case Benefits
A well-written business case benefits you and your organization by allowing you to: gain control of resources, calculate the potential benefits of the project, simplify the development of the financial justification, provide a consistent message to many audiences, and share and organize thoughts, activities, and knowledge. gain control of resources.

A good business case can help you gain control of resources by convincing executives to choose your project as the best available response to a problem or opportunity. calculate the potential benefits of the project.

The business case serves as a yardstick for a project, allowing you to measure its success. It can also facilitate benefit evaluation by outlining the "do nothing" scenario - that is, what will happen to the business if the project is not undertaken.

This effectively links the issues to the solution. simplify the development of the financial justification A good business case simplifies the development of the financial justification, and can identify holes or problems with the solution.

However, a business case should be more than just a financial document. provide a consistent message to many audiences A good business case provides a high-level and consistent view of the entire project to all parties potentially affected by the project. share and organize thoughts, activities, and knowledge.

And finally, a business case provides an objective review of the ideas and facts of the project, identifies inconsistencies or weaknesses, and communicates the purpose of the project. It also justifies your team's effort, and gives your team a sense of accomplishment. (...)

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12 Steps Business Case Development - About the Course

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Whether you are looking for investors, you want to invest in product development or reinvent your business processes with new marketing channels, it is now more important than ever to have a business case that is carefully planned, written, and presented.

Writing a good business case will help you sell your business idea, justify resource allocation to key decision makers and secure funding for your project. Which might be great but not convincing enough get real.

So, we use a business case to mainly to convince someone else by using factual data and showing that we are ready to make good use of what seems to be an opportunity. And what’s best for this than having in place a system that works.
(...)

But, to keep this introduction short, in this course, you will learn how to plan, write, and present a business case to persuade key decision makers in your organization or elsewhere that your proposal is a winning initiative.

This course will show you the principles for preparing an effective business case, and it will guide you through the building process, from defining your business need and gathering relevant information, right through to, assessing the financial impact of your solution.

The course will conclude with practical advice on how to concisely present your business case to connect with your audience and key decision makers. And, might be followed by one distinct course on presenting your case.

So, thank you for embarking on this journey. Next we are going to have an overview of the topics included. See you there for details on what exactly are we going to learn!

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12 Steps Business Case Development - Promo

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After completing this course, you will be able to build an effective business case. You will understand what makes a business case, how to prepare one and how to design business cases to persuade decision makers.

Understanding what is a good business case will be followed by a description of the functions and elements of a business case. You will learn how to research and what to research in order to prepare yourself and how to align business case with organizational strategy.

Finding the best angle and making an effort to polish your business case will increase your chances. So, you will learn about the principles of business case design to respond to your identified decision makers.

A 12 Steps approach will guide your learning and practice:

1. Choose your business idea
2. Define your business objective
3. Determine the functions of your business case
4. Prepare a generic structure of a business case (marketing components included)
5. Research your business idea by needed topics and using appropriate research methods
6. Analyze and compile results of research
7. Align business idea, strategy and processes
8. Determine the best angle to sell your business case
9. Write your business case content
10. Adapt your business case to various decision makers
11. Emphasize high impact elements, and 
12. Prepare to 'sell' your business case.

So, if you want to learn how to develop a business case, for work or in your personal projects this course is for you. It's simple, compact and guides you step by step.Thank you for considering my course! If you are interested, go ahead, and hit that apply button!

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