Make a Great Pitch When Budgets Are Tight
| You have a great idea—but you’re lacking resources to execute it. How can you persuade a client, a colleague, or a senior executive to spend money—especially when budgets are tight? Start by conducting a stakeholder analysis. Do your research, and talk to the people you’re trying to influence before making your case. Ask questions to understand what challenges they’re facing and what their current priorities are. Next, clarify the benefits of your proposed investment. Outline a coherent case based on your analysis. It’s key to demonstrate the cost-reducing or revenue-driving impact of your pitch—and to emphasize its timeliness. Your pitch should answer the questions: Why now? What costs will your audience incur by failing to take action? To bolster your case, you might also allude to competitors and other organizations who are making similar investments to the one you’re suggesting. People tend to be influenced by the behavior of others who are in a similar situation. Finally, be prepared to answer any likely questions or objections—and to propose clear next steps if they agree to invest. |
| This tip is adapted from “6 Pitching Techniques to Use When Budgets Are Tight,” by Allison Shapira |
