How to Turn a Corporate Vision (and Services Application) Into a Technology Product SaleBy: Paul DiModica
Sometimes you can have too much corporate vision. As the new economy clucks on and VC valuations of service-based businesses continue to decline, it becomes even more important to package executive vision into a technology product sale. Today, service-based companies are valued at 50% of annual revenue. Conversely, valuations of product-based companies are from five to ten times annual revenue.
Visions are great for executive summaries in a business plan. But at the end of the day, it is revenue that drives companies, not PR. Selling a vision pushes technology salespeople into a conceptual sell process that elongates sales cycles, stalls decision makers, and complicates ROI presentations. So how do you take a corporate technology vision and package it into a box to be placed on the shelf ready for a sale? Well, it's complicated, but try these steps.
Step 1: The conversion process starts with your CEO (and possibly the firm's founder) and then focuses on having him/her go through an intellectual catharsis to understand that businesses (most businesses) don't buy vision. Their vision needs to be packaged to generate revenue NOW and to help confirm its implementation validity.
© Copyright 2001 Paul DiModica
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