Ihab Salloum[ad_1]
Selling big projects is no easy feat, even for the Chief Executive Officer. There’s a limit to their purchasing power, beyond which they need to get approval from the board. But fear not! I’m here to share with you three keys that will help you sell to the board of directors.
Key number one: understand the organization’s mission priorities. The mission is the task bestowed upon the company by the board, while priorities dictate the sequence and timing of tasks. The board scrutinizes what needs to be accomplished, why it needs to be accomplished, and when it needs to be accomplished. They also pay attention to potential risks and how to mitigate or eliminate them. However, they don’t delve into the specifics of how to accomplish the mission. That’s where you come in, presenting them with the detailed plan to achieve the desired outcome.
To effectively sell to the board, you must delve into their priorities and concerns. Demonstrate how your proposal aligns with their priorities and addresses their concerns.
The second key is understanding how the board measures success. What benchmarks do they use to determine executive bonuses? Success can be measured through revenue, profit, growth targets, market share, new market access, or competitive success. It’s crucial to identify their criteria for success and showcase how you can significantly contribute to these outcomes.
Keep in mind that each board member may have a slightly different perspective on success and risk. So be prepared to adapt to their individual views.
The third key is gaining board-level access. While meeting the board personally is unlikely in most cases, your proposals and reports will reach them if the CEO believes in your plan.
Therefore, you must become proficient at crafting board-level proposals and writing presentations that others will deliver on your behalf. It’s essential to include all the elements discussed in this article. Your executive sponsor can assist you with additional material needed to sway the board in your favor.
Over time, as you build your personal brand and establish credibility with the board, you may be granted the privilege of presenting in person. And when that day comes, congratulations! You have joined the ranks of the top sales professionals on the planet.
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