• Skip to main content
  • Skip to after header navigation
  • Skip to site footer

Sources of Insight

Better Insights, Better Results

  • About
  • Articles
  • Reviews
  • Learn
    • Future Self
    • Personal Development
    • Leadership
    • Emotional Intelligence
    • Mental Health
    • All Topics
  • Products
    • Books
    • Courses
    • Free Stuff
    • All Products
  • Resources
    • Book Summaries
    • Great Quotes
    • Greatness Distilled
    • All Resources
  • Contact

3 Keys of a Business Case

by JD
3KeysToABusinessCase
Photo by rochelle, et. al.

If you have to compete for resources or budget or sell an idea, one of the keys is a business case.  One way to think of a business case is “how big is the pie” and “what’s your slice.”  You use the business case either to argue for your project or in argument against other projects competing for the same resources and budget.

The Three Keys of a Business Case
Because the business case is such a critical piece of the project puzzle, I asked one of my mentors for their take on an effective business case.   Here’s the keys:

  • Key 1. Problem has to be apparent .  It’s apprehensible.  As a stakeholder, I can attach to it.   It’s real.  I relate to the examples.  I can see it, smell it, and can relate to instances of it.
  • Key 2. Compelling benefit.  It has to be meaningful to the stakeholders (spell out what’s in it for them.)
  • Key 3. Clear path to return.  How do I realize the path?  When do I start getting paid? Cut my staff by 1/2 when?  What actions happen that are specific to the stakeholders ?

The Fourth Key
My mentor was on a roll and added an additional key: 

  • Key 4.  Risk / reward “options.”  The key is to be able to chunk down the value or the risk into an acceptable size (right-size the risk.)  For example “I like your idea, but it’s too big a chunk to bite off.”

My Related Posts

  • Framing Compelling Arguments
  • 8 Rules of Business Think
  • Testing Your Business Clarity
  • Lessons Learned from the BootStrapper’s Bible
Category: Effectiveness, Personal EffectivenessTag: Effectiveness

About JD

Previous Post:Life FrameThe Life Hot Spots Framework (7 Categories To Master Effectiveness in Work and Life)
Next Post:4 Stages of Market Maturity

Sidebar

About the Author

JDI am J.D. Meier. Join me on a quest for the world's best insights and actions for personal greatness. Learn more...

My Best-Selling Book

This is the book that changes lives ...

Become the Greatest Version of Yourself!

Learn better skills fo personal greatness. Stand on the shoulders of giants and awaken your greatness. Realize your human potential through the world’s best insights and actions for mind, body, emotions, career, finance, relationships, and fun.

My Other Sites

  • JD Meier.com
  • Getting Results.com

Topics

  • Personal Development
  • Leadership
  • Productivity
  • Personal Effectiveness
  • Emotional Intelligence
  • All Topics

Features

  • Featured Guests
  • Book Summaries
  • Books I Recommend
  • Great Lessons
  • Great Quotes
  • How Tos
  • Lists
  • Products I Recommend
  • All Resources

Copyright © 2023 · Sources of Insight · All Rights Reserved