Writing a business case template is a helpful way to structure your argument when asking someone to invest in an idea or product. Your arguments will usually be made up of three parts: motivation, investment, and payoff.
Motivation refers to what incentivizes someone to work with you. It can be for personal gain (like money) or professional gain ( like their career).
Investment refers to how much money people are willing to spend on your project. This includes costs such as equipment, legal documents, production expenses, etc.
Payoff means getting back what they invested. If someone invests $1,000 in your company, you should have a plan to keep them as an employee or payback is not good!
Writing a business case template makes it easy to stick to these three points. By using a template, you get some part written for you, so you just need to fill in the rest.
This article will go into more detail about how to write a simple business case template that gets the job done.
Writing a business case template is not a difficult task, but it can be tricky if you do not know what markers indicate that your writing is too wordy or long.
Writing a business case template does not need to be overly formal, however, there are some basic rules that must be followed. When following these rules, your writing will have an appropriate level of formality while also being effective.
This article will help you achieve this!
Firstly, make sure your business case has an aim. This should be clearly identified at the start and may be modified during editing depending on how well it works.
For example, if the case was to increase sales then adding more features would be changing the aim. After altering the aim, you could re-write the rest of the case to match the new goal.
A touchpoint is an activity or action that prompts someone to take another action, such as contacting a company for more information or buying their product or service.
Interaction with a company’s website is a common way most people make this decision. It is therefore important to consider how easily you can access essential info from the site.
Is it clear, easy-to-read and understand? Does it appeal to different users of varying levels of experience? Is everything linked and do these links work?
These are all questions related to readability and usability, which we will talk about below. If yes to all of the above, then your audience likely enjoys reading material similar to what you write here so maybe you could add content to help them learn more about the products and services mentioned.
Another way to create engagement is by offering rewards or giveaways. Companies like Amazon and Target use special discounts and/or coupons for purchases made online after visiting their site.
By giving away something valuable to customers, they are more likely to purchase the product or service and visit the site again to claim it.
The first thing you should do is consider the current state of the market. Have you reviewed your competition? Are their prices lower than yours? If so, then what will people think when they view the company’s website or see advertisements for theirs?
By having similar products to others, people may begin to associate your business name and services with low quality or poor service. This could hurt your reputation and slow down the growth of your business!
Making changes to ensure your product is unique from the rest can help mitigate this risk. You also want to make sure your competitors are not improving their offerings – that would be another way to find out about weaknesses in your own product and marketing strategies!
Blast off now by writing a simple case study template using the structure above.
As we have discussed before, business cases are not about what you want or hoping to get out of this product or service. They are instead about how to make the world a better place through your products. Your customers determine that.
Business case templates simply ask if the benefits of the product outweigh its costs in terms of benefit to others and to yourself. This makes them very straightforward to write because it does not require explaining who your audience is or why they should care!
The first step in writing a solid argument for the value of your product is to figure out who your target market is and what their needs are. You can then use that information to explain why your product solves those problems for these people.
As we mentioned before, business cases are argumentative statements that make a claim about what should be done to achieve an objective.
They usually begin with who the proposer of the idea is and then describe their vision for the future. After that, they will typically discuss why the proposal makes sense and how it can be implemented. Then comes the argument against the current state of affairs and finally the conclusion stating whether or not the proposition is worth pursuing.
The way this whole process works is pretty straightforward, but some people may find it difficult to create their own strong arguments when presenting proposals. This is totally normal! Almost anyone else in the world would feel similarly, so don’t worry about being unique on this front. What you need to do instead is look at the strengths of your competitors’ arguments and add those onto yours!
By doing this, you will quickly see how easy it becomes to develop your case-building skills. Plus, it will also help you understand the weaknesses in theirs and fix them! All of this helps you become a more persuasive writer which is always a good thing.
Even if your idea is truly incredible, that won’t matter unless you can prove to people that your product will work. Sure, there are always going to be competition, but there are also always going to be products with similar features to what yours has.
If someone already has something like yours, they may not want to pay for it. Or, their current version of the product works just fine, so why would they spend money on your new one?
The more expensive your product is, the less likely people are to buy it. If everyone out there had your product, then how could anyone tell who makes quality goods and who doesn’t?
Productivity tools have become very popular in recent years, making it even harder to get rid of old technology.
As we mentioned before, business cases are very specific documents that describe why your company should implement an idea or product. They’re not intended to be general marketing materials, so it is important to determine if your product has enough potential success to justify investing in it.
You can evaluate this by looking at three main factors: whether your current competitors have done well with their products, how much of a need there is for your product, and whether there are any successful examples of similar products doing well.
If you find no clear answer to any of these questions then you may want to reconsider investment in your product.
It’s very difficult to win an argument if you don’t have enough ammunition, so before you begin writing your business case, you need to make sure you have all of the necessary ingredients.
You will want to be able to prove how much money you’ve invested in your current operations, as well as what costs could be eliminated with a change in strategy or approach.
It’s also important to know whether it makes sense to keep investing in your current strategies, or if there are better alternatives out there. All of these factors should go into determining whether it is worth changing things around or not!
If you don’t have the evidence needed to back up your arguments, then you’ll probably end up sticking with your current strategies, which may not necessarily be the best thing for your company.