How to build a business case for new technologies in a five steps process. Convincing executives to invest in new technologies or understanding yourself why you're building a new technology/AI-centered product or service is one of the most important tasks of tech managers/founders, yet the process is often neglected and superficially looked at.The better the understanding of a new technology business case, the stronger the chance for the product/service to succeed.
3. ●
● How to build a business case with
new tech in five steps
● Nine design principles for
exponential transformation in a
Business Model Canvas example
4. How to build a business case with
new tech in five steps - Step 1
Tech/problem
combo
Technology
intelligence
Market research
Efforts need to be supported by:
● Web searches
● Roadmapping
● Industry literature
● Patent information
Outcomes expected:
● List of technology/problem combination
● Provisional list of potential customers
5. How to build a business case with
new tech in five steps - Step 2
Select
customers &
sales strategy
Potential value to
both seller &
customer
Most promising
customers
Efforts need to be supported by:
● Force field analysis
● Mind maps
● Databases
● Score cards
● SWOT analysis
Outcomes expected:
● Shortlist of three or so concrete customers
● Plan of Action for contacting prospects
● A basic outline of the business case, with USPs
6. How to build a business case with
new tech in five steps - Step 3
Understand
chosen
customers’
needs
Show you can
meet needs
Buyer
Efforts need to be supported by:
● Discussion sessions (w/ open ended Qs from seller)
● Workshops
● Demonstrations
● Tips: Start w/ the 3 least likely or attractive prospects
to practice technique (even if it leads to refusal)
Outcomes expected:
● Diagnostic studies of problems started & draft
scenarios presented
● Customer should be convinced of credibility &
ability to understand requirements
7. How to build a business case with
new tech in five steps - Step 4
Develop
Business
Case w/ the
customer
Cost/benefits of
investing in new
tech
Eliminate
mismatch
tech-problem
Efforts need to be supported by:
● Involve customer in developing the value proposition
● Evaluate potential business models together and
seeing the strategy required (play devil’s advocate to
challenge)
● Financial modelling for various scenarios
● Expectations discussed and refined
Outcomes expected:
● Informal joint agreement that the Business Case
meets expectations
● Review of potential financial sources & budget
limits
9. How to build a business case with
new tech in five steps - Step 5
Present the
Business
Case
Provide
unambiguous
business case
Negotiate next
steps
Outcomes expected:
● Formal presentation of the business case to the
customer
● Unambiguous approval of the seller’s technology
proposition
10. Nine design principles for exponential transformation in a
Business Model Canvas example
11.
12. Requirements:
● Massive transformative purpose or Big Hairy Audacious Goal.
● Own Business Model Canvas as an ideation exercise.
● Revenue streams and how you actually add value.
● Bring platforms to help transform things in your industry.
● Find ways to ignite your talent to work on the most difficult parts of your transformative
purpose.