How can you build a strong business case for budget negotiations?

1 Define your problem and solution

The first step is to clearly define the problem that your program aims to solve and the solution that you propose. What are the current gaps, needs, or challenges that your program addresses? How does your program offer a unique, innovative, or effective way to solve them? You should also explain how your solution aligns with the strategic goals and priorities of your organization and your stakeholders.

2 Analyze your costs and benefits

The second step is to analyze the costs and benefits of your program. How much will it cost to implement and maintain your program? What are the direct and indirect benefits that your program will generate? You should quantify and qualify the costs and benefits as much as possible, using data, evidence, and assumptions. You should also compare your program with alternative solutions or scenarios, such as doing nothing, scaling up, or scaling down.

3 Identify your risks and mitigation strategies

The third step is to identify the risks and mitigation strategies of your program. What are the potential threats or uncertainties that could affect your program's success? How likely and how severe are they? How will you prevent, reduce, or manage them? You should prioritize the most critical risks and provide realistic and actionable mitigation strategies. You should also communicate how you will monitor and evaluate your program's performance and outcomes.

4 Present your recommendations and options

The fourth step is to present your recommendations and options for your program. What are the main arguments and evidence that support your program's value proposition? What are the best practices or standards that you follow or exceed? What are the trade-offs or compromises that you are willing to make or not? You should also provide different options or scenarios for your program, such as best case, worst case, or most likely case, and explain their implications and consequences.

5 Tailor your message and format

The fifth step is to tailor your message and format for your audience. Who are the decision-makers or influencers that you need to persuade? What are their interests, expectations, or concerns? How do they prefer to receive and process information? You should adapt your tone, language, and style to suit your audience's needs and preferences. You should also choose the most appropriate format and medium for your business case, such as a report, a presentation, or a dashboard.

6 Prepare for questions and objections

The final step is to prepare for questions and objections that you may face during your budget negotiation. What are the most common or likely questions or objections that your audience may have? How will you answer or address them? How will you handle any feedback or criticism that you receive? You should anticipate and rehearse your responses and arguments, using facts, logic, and emotion. You should also show confidence, respect, and flexibility during your negotiation.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?