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Everyone knows quantification is important when talking with senior execs, yet few do it well. How to do it better - thread
1) Senior execs talk in benefit terms. Projects and initiatives which don’t communicate benefits clearly are seen as a waste of time
2) Quantifying benefits is assigning a measurable target against an outcome
3) This measurable target doesn’t always have to be expressed in $ - you can use other metrics
4) These can be customer NPS increase, growth in no. of subscribers, employee satisfaction improvement etc.
5) Underpin benefits with enablers i.e. measures leading to realization of benefit
6) Example – offering gym packages to employees is an enabler to improving employee satisfaction and productivity
7) Have KPIs you will measure benefit realization against. In our example, know how you will measure employee satisfaction and its changes
8) Multiple measures can all contribute to same benefit. In our example, other initiatives will be aimed at same target outcome
9) Therefore, de-duplicate enablers i.e. revise your quantification so that the sum of parts doesn’t exceed the total
10) Some benefits are less tangible and harder to quantify. That’s ok, you should still state them – but focus on quantifiable benefits as priority
11) Socialize your quantification of benefits with other stakeholders
12) If you’ve done your homework – in the meeting you will be challenged on assumptions rather than absolute numbers
13) Which is exactly what you want since you worked on assumptions and have a good confidence level around them
14) Good luck and check out my A to Z dictionary of actionable principles for talking with senior execs here https://gum.co/bQyyZ
