Build a Successful Business: The Entrepreneurship Collection (10 Items)

Appendix A

Avoid Common Mistakes

When creating and pitching business cases, even experienced managers fall into these traps—but you can avoid them.

Mistake #1: Failing to Address the Company’s Goals

Too many managers assume that the benefits of their proposed projects speak for themselves or are implicit in a strong ROI.

This often happens with IT initiatives. Take, for example, a project lead who wants to put in a new system because it’s the industry standard and he fears the firm will fall behind the competition without it. He’ll probably build a case demonstrating how the system will pay off in a few years. But how will it support the company’s strategy? That’s what senior leaders really want to know, because that’s what they’re on the hook ...