One of the things that we tech comm people do is function in a business environment. That means we have a different audience internally with specific needs. We need to meet those needs if we want to function well.
If you have ever asked for a new tool or other “thing” from your boss and it didn’t happen, one of the ways around that is to make a business case. I asked a friend and business associate this week to write about this topic, as he has co-authored several articles about building a business case and has run several workshops on the topic.
Making the business case shows your company that there is a financial reason why you need a new tool, for example.
Here’s Jack.
How to Build a Business Case
By Jack Molisani
The amount of money that is anticipated to be saved or generated as the direct result of an expenditure is known as Return on Investment (ROI). ROI is usually measured in time and money: how long it will take to recoup the money spent, and how much money will be saved or generated.
When speaking of ROI on a new investment, one states how long it will take to recoup the initial investment via new sales—and then some (profit).
When speaking of ROI on a cost avoidance expenditure, one states how long it will take to recoup the initial expenditure via the money saved.
While it may take years to recoup a large investment, a client of mine in Alameda, CA localized their documentation into so many languages that they reported recouping the cost of purchasing Author-it (through reduced translation costs) in just one product release!
When you build your business case:
- State the problem
- Offer a solution
- State how much it will cost to implement the solution
- State the ROI that could be realized when the solution is implemented
Be sure to state what the problem is for the company, not just for you. The problem is not, “We need a content management system,” the problem is, “We are spending $XX per month more than we need to on translation costs!”
By finding ways to decrease costs and increase profits, you are also showing how you add to the company’s bottom line.
Which, BTW, is a business case for you getting bigger raise come review time, right?
Jack Molisani is the owner of ProSpring Technical Staffing. He also produces the LavaCon Conference on Digital Media and Content Strategies. You can follow him on Twitter @JackMolisani. More detailed information about creating and using business cases can be found at the folowing article:
http://www.prospringstaffing.com/Resource/HowtoBuildaBusinessCase.pdf