28th
Selling the “win” as an intra-preneur.
Recently, I’ve been working on selling through a complex idea across multiple business units of Experian. This process has unfolded over the last 9 months (I know, I know…but that’s what you get at a large Co!).
I’ve noticed a few things:
(1) Selling a new, innovative idea in a space that is rapidly changing (In this case, real-time bidding for display advertising) requires a fluid “pitch & update” process. It will be nearly impossible for everyone to be on the same page throughout the entire process. Many peripheral departments will either lack the expertise or be too busy to keep up with the changes. I’ve recently stumbled on the concept of a “mind map” from @UpbeatNow (see a sample of mine here: http://www.slideshare.net/ACEdge/webknowledge-mind-graph-alan-edgett-jan-2010 ). This concept can be extended to any project, so that you can build up a living, growing “where we’ve come from” slide on topics evaluated, vendors considered, changes to the model, etc etc. In this fashion, new meetings or refresher meetings with peripheral managers can be inclusive without being too repetitive. Anyone can find where on the map they’ve left off, or perhaps are starting, and can see the progression to current status.
(2) Definition of “The Win”. Also, perhaps even more important than the above “roadmap” of where you’ve been, and even, the future plan for where the project or product is headed, is a solid definition of what “the win” is for the initiative—and perhaps your company. Knowing that you are satisfying a large niche, or thwarting competition, or delivering xx% incremental revenue, is great. BUT, having senior execs be able to clearly articulate the key indicator of a “win”—whether that is planned for 6 months or 6 years in the future—is critical to keeping momentum! After all, niches may change, models may evolve, competition may arise or fall, but if the strategic goal or win is clearly defined, these tactical changes can easily be explained. Without a clear definition of “the win”, these changes will actually confuse the organization and can cause suspicion, or worse, distraction. A Good story keeps focus on a main theme.
(3) Credible validation. Nothing sells a restaurant like a good review. Same with selling a new idea or product internally. Can you get quoted in an external source? Are there others in or around your industry talking about your idea or similar ideas? Better yet, are institutional funds or consultants making investments in this area or niche? By all means, get this sort of info into the pitch process. While focus on revenue targets, customer research, and product specs are required, a little PR never hurt! There is a fine line between selling “fantasy” and selling a future capability, but if you can get early testimonials, Proof-of-concept paperwork, or demonstrate the industry “ecosystem” building around the product, concept, or niche, you’ll have a much easier time competing against internal resource allocations destined for those “pet projects”!
Just my $.02 on the nuances of “Intra-preneurship”…
Happy Hunting,
ACEdge
