In an increasingly competitive business landscape, establishing a Business Value program is paramount. A business case not only helps prioritize your proposal but also seals its approval. The catch? Most clients grapple with timely financial justification. Furthermore, without guidance, they may not highlight your unique value propositions effectively. Consequently, many deals either stall or take forever to materialize.
So, when customers beckon for you to delineate business value, it’s your cue. While some companies excel in integrating value into their dealings, others falter. Here’s a look at three common pitfalls that inhibit the effective scaling of a value program:
1. Over-reliance on Business Value Consultants
It’s a common strategy: when businesses seek to upscale their value program, they onboard a battalion of Business Value Consultants. However, a few challenges crop up:
- Scarcity: Talented Value Consultants are a rare breed, demanding attractive compensation.
- Transition hurdles: Morphing existing roles into value consultants isn’t a cakewalk. Training is prolonged, and not everyone makes the cut.
- Capacity Limitation: While a Value Consultant might efficiently cater to a handful of business cases monthly, the model doesn’t fit the bill for expansive scaling.
2. Hoping Spreadsheets Will Solve All
An alternative scaling tactic is the roll-out of ROI spreadsheets to sellers, hoping these tools would serve in their engagements. However, this approach often backfires:
- Complexity: Sellers find these spreadsheets intricate and cumbersome.
- Low Adoption: Even with relentless efforts to enhance user-friendliness, spreadsheets seldom find takers.
- Limited Autonomy: Merely crafting a spreadsheet and handing it over rarely culminates in sellers integrating them into deals.
3. Value Selling Training Sans Proper Resources
While training sessions often succeed in instilling the importance of value engagements, they fall short without the right resources:
- Customization: Generic training requires the supplement of tailored content and tools that bolster sellers during customer interactions.
- Persona-Specific Guidance: Sellers need distinct content that caters to various personas. This should include specific discovery questions, expected outcomes, and relevant case studies.
- Tools for The Job: To ensure productive engagements, sellers should be equipped with business case tools that guide discovery, outcome calculation, and presentation creation.
Scaling a value program is akin to walking a tightrope. Awareness of the potential pitfalls, coupled with insights from the Value Lifecycle Assessment model, can steer you towards scaling success. After all, understanding the journey of successful peers can be your compass in navigating the challenging terrain of value program expansion.
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