This archive report was first published on 17 October 2019.
On a typical day, a salesperson might enthusiastically suggest setting up a tent at a popular mall, only to be met with skepticism by their manager. But what if the salesperson had a solid business case to back up their proposal?
A business case is a justification for a proposed undertaking on the basis of its projected commercial gain. It's a crucial step in making informed investment decisions and avoiding careless or even reckless spending.
Let's consider an example. A salesperson wants to set up a tent at the Junction Mall, which attracts 4,000 personal cars every Friday, Saturday, and Sunday. By engaging just five percent of these car owners, the salesperson could generate 600 hot leads, with a total cost of Sh30,000. Based on their selling activities, they're confident they can close at least 10 sales over the three days.
With a business case like this, the manager is likely to be impressed and ask for more information. The salesperson has done their research, thought through the potential returns, and is accountable for their proposal.
Of course, not all business cases will be successful. But by doing the research and thinking critically, the salesperson has demonstrated a commitment to making informed decisions and learning from their mistakes.
As the article notes, 'Not having a business case is careless investing; in fact it's not even investing, it's gambling.' By building a solid business case, salespeople can boost their sales odds and make more informed decisions.
