Remember, Great isn’t Cheap
I see leaders setting themselves up for failure and credibility loss when they don’t differentiate the cost of doing a GREAT job from the cost of doing an OK job.
… Don’t commit to deliver the dream-scenario that everyone is excited about without the dream-budget!
Show the cost of various choices…
If you only go forward with one budget option, your conversation becomes very limited. And you run the risk fo hearing, “That number is too big, cut it — but you still need to deliver everything”
With only one budget option there are not a lot of negotiation paths open to you at that point.
It’s vitally important that within the first moments of this discussion, that you push back the right way, so you are not set up for an impossible commitment, but you don’t damage your credibility either.
You need to give management CHOICES for different levels of outcomes that cost different amounts.
I like to make a chart that gives me more flexibility in the conversation to basically say that if you pay less, you get less. It’s your choice.
The chart looks something like this:
The conversation can then be:
OK, if you only increase my budget 10% we can fix these things, and add one item, but we can’t add most of the competitive features. If that’s the funding choice you make, this is what you will get.
This way you are still building credibility by showing that you can do the complete job, but you are not shooting yourself in the foot by signing up for the complete job without the complete budget.
Want some help with this?
If you want some help with this kind of budget negotiation and putting yourself in a stronger position to get your stakeholders to say YES,
Watch the webinar: Negotiating Your Budget
Here’s a preview:
In this webinar I talked about how to:
- Develop credibility before you ask for money
- Change the conversation to make it difficult for them to say NO
- Create the right communication tools around your budget
- Not commit yourself to the impossible
- And more…
Watch the Webinar
Members of my Executive Mentoring Group, this webinar is already in your Member Library. Just login to watch.
If you are not a member and you want to watch this webinar you have two choices.
1. Free Trial Membership
You can start a free trial membership. You’ll get access to this Webinar+Executive Playbook and a lot more stuff.
2. Purchase this one Webinar
If you are not interested in a membership but want access to this one webinar, you can purchase it separately.
Why not start a free trial?
It’s worth taking some time to realize that your budget is, among other things, an important communication tool. The way you negotiate can have an impact on your projects but also on your career. If you’d like access to this playbook to help you develop your strategy, you can get it for FREE by starting a free trial.
Coaching with Me
Also in your free trial period, you’ll get invite to two group coaching sessions where you can ask me your own questions.
Enjoy the free stuff.
Cancel any time.
No Risk.
What exactly is an Executive Playbook?
The Executive Playbook adds practical resources to the webinar. The playbook also contains Q&A and a 4-step action planning guide (along with worksheets) to help you put the ideas into action in your own unique situation.
Next Topic
Next Live Broadcast: There will be a live broadcast later this month to kick off the September 1 topic on: Managing Your Own Performance.
You’ll get an invitation on that one later.
What do you think?
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ABOUT PATTY:
Patty Azzarello is an executive, best-selling author, speaker and CEO/Business Advisor.
She became the youngest general manager at HP at the age of 33, ran a billion dollar software business at 35 and became a CEO for the first time at 38 (all without turning into a self-centered, miserable jerk)
