If you’re like most professionals, you don’t control your company’s finances. Still, just because you don’t sign the checks, it doesn’t mean you should shy away from speaking to your boss about how your business allocates funds. At the end of the day, the best employees care deeply about their place of work. And it only makes sense for ambitious pros to come forward when they have an important idea to discuss with their manager. Of course, there’s a right way and a wrong way to pitch a potential investment to your boss. So make sure to follow these four tips to ensure a positive outcome:
Before you even speak to your boss about asking for additional funds for your team or department, it’s crucial to understand exactly what you want to say. Research the products or services in question, review potential alternatives, as well as competing companies, and cross-reference that information with your own business’s budget. Plain and simple, a company that already struggles to manage its debt probably won’t be able to afford a six-figure, executive-level CRM software integration. Do your homework well in advance of making any pitch to your boss –– otherwise, you could end up looking silly.
Cover All Bases
When making your presentation, you should obviously focus on the benefits and advantages the purchase of new products or services will bring to your company. However, it would be unwise not to disclose some of the potential problems too. All investments –– no matter how exciting –– carry some degree of risk. Be honest with yourself and your boss on this matter.
Making a business investment often requires extra work in terms of installation or integration. If you feel strongly about a certain opportunity, then volunteer to perform extra tasks to get it off the ground. Sign up to be the point person for communication with a new marketing agency; or volunteer to come in on a few weekends to install a new computer program. If you’re willing to make an extra effort, your boss will likely take your request more seriously.
As with any request or negotiation, it’s important to be willing to compromise. Keep in mind that while your boss might love your idea, they also may not be able to fully support it. Don’t feel bad about giving ground; instead, celebrate your achievement and work hard to guarantee its ultimate success.
It doesn’t matter if you’re trying to get your boss to sign up with an organization like AG Access to gain meaningful business insights, or you just think your office needs a new set of monitors –– these tips will help you have a productive conversation with management. Don’t get discouraged if at first you don’t make headway. Being persistent, and respectful, can lead to meaningful progress over time.