Chris Whyatt thinks...

Management Summary or Executive Summary? I say neither!

The debate rages (OK, some people occasional discuss) whether the words at the start of a proposal should be called either Management Summary or Executive Summary?  I personally hate the word ‘executive’ – it’s a family trait as well; my Dad even had a letter published in The Times newspaper about the damn word!  His argument was around why something like a briefcase, a pen or an umbrella needs the word ‘executive’ in front of it.  I have to agree Dad; why indeed?

So what does ‘executive’ mean?  The Free Online Dictionary states:

ex·ec·u·tive

n.

1.    A person or group having administrative or managerial authority in an organization.

2.    The chief officer of a government, state, or political division.

3.    The branch of government charged with putting into effect a country's laws and the administering of its functions.

adj.

1.    Of, relating to, capable of, or suited for carrying out or executing: an advisory body lacking executive powers.

2.    Having, characterized by, or relating to administrative or managerial authority: the executive director of a drama troupe; executive experience and skills.

3.    Of or relating to the branch of government charged with the execution and administration of the nation's laws.

Love the reference to ‘drama troupe’ in the second list, point 2!  It often seems like you are dealing with an amateur dramatics society when you deal with some buyers.

In the context of business development and proposals, 'executive' usually means someone empowered or who has the authority to make a decision (buy), or to make a recommendation to buy, so the word works well when referring to an ‘executive’ summary, as that is who it is aimed at!

So what about ‘management’?  The Free Online Dictionary states:

man·age·ment

n.

1.    The act, manner, or practice of managing; handling, supervision, or control: management of a crisis; management of factory workers.

2.    The person or persons who control or direct a business or other enterprise.

3.    Skill in managing; executive ability.

Again, I think the business development version would be as with ‘executive’, so not sure that one word is better than the other; what do you guys and gals think?

Personally I think there is a simple answer – just call it the summary; one simple, single word!

So what does the dictionary say?

sum·ma·ry

adj.

1.    Presenting the substance in a condensed form; concise: a summary review.

2.    Performed speedily and without ceremony: summary justice; a summary rejection.

n. pl. sum·ma·ries

1.    A presentation of the substance of a body of material in a condensed form or by reducing it to its main points; an abstract.

I think that their definition says it all and would suggest that anyone writing a summary bears in mind the points made above, especially the words ‘concise’ and condensed form’!  The golden rule – no more than two pages please.

Perhaps the debate will rage now? Over to you!

Closing a sale with a proactive proposal! An article from 2001

I wrote this article back in September 2001 and was lucky enough to get it published in Salesforce magazine.  Click on this link

Download closing_a_sale_with_a_proactive_proposal_dynamic_proposals_sf_sept_01_p15.pdf

for the edited article from the magazine.  The original version is below.

Closing a sale with a proactive proposal!
Most ideas that help close a sale have a large degree of common sense written all over them.  So suggesting that sales people should use a proactive customer proposal to support their sale certainly falls into that category.  But if that is the case, why don’t more of them do it?  This article examines proactive proposals and suggests a simple way to produce them.

What is a proactive proposal?  A proactive proposal is a document produced by the selling organisation at a key stage in the sales cycle to try and close the business.  It is produced with the cooperation of the customer, specifically the project sponsor, who is ideally used to test a draft version with prior to formal submission.  A proactive proposal is primarily about demonstrating understanding and capability, as well as exerting influence.

What’s the difference between a proactive proposal and an unsolicited proposal?  The author would define the difference as being the level of cooperation and involvement of the customer; the customer (as defined above) ‘sponsors’ a proactive proposal, whereas an ‘unsolicited’ proposal is more of a shot in the dark or a kite flying exercise!

What are the benefits of a proactive proposal?  A proactive proposal should deliver the following highly desirable benefits:

• Demonstrates that you understand their business pains and the solution they seek
• Demonstrates your organisations capability to deliver a compliant solution
• Exerts influence over the customers business need, strategy and requirements
• Sets the agenda, creating the need and the case for action
• Tests the customer seriousness, budget, expectations and timescales – a positive response is an early buying signal; a negative response will save you a lot of time and money!
• Tests your assumptions
• Enables you to gain a better understanding of the politics, buying process and sign-off requirements etc
• Gives your coach a return on investment for all the time they have spent with you
• Gives your coach something to sell internally on your behalf, justifying his belief and sponsorship of you and your solution
• Gives your customer hard facts and figures to base a decision on, rather than a perception
• Puts you one ahead of the competition, who will probably be trying to do the same as you
• Sets an expectation with the customer of how you plan to do business and deliver your solution
• May remove the need for a tender, which will save both parties a lot of time and money
• If it does go to tender, will influence the requirement and content

So what should a proactive proposal contain?  The most important thing to weave into a proactive proposal is understanding; understanding of the business your customer is in, their issues, their constraints, their timescales and everything you have learned from working with them to get to this stage.

Rudyard Kipling is quoted as saying:

" I keep six honest serving-men (They taught me all I knew).  Their names are What and Why and When and How and Where and Who."

Keep this quote at the forefront of your mind when crafting your words.  Demonstrate to your customer that you understand the answers to all six questions.

I would suggest a document structure as follows:

• A front cover naturally.
• Standard proprietary stuff for your organisation (disclaimers etc).
• Table of Contents.
• Introduction – a paragraph on the purpose of this proposal.
• Background – what led up to this proposal, i.e. meetings, demonstrations etc.
• Management Summary of a maximum of two pages covering the following 6 points:
  1. Define your understanding of the customer's business requirements and issues – talk about them and don’t mention your organisation
  2. Define your understanding of the customer's required solution – the same rule applies, talk about them NOT you
  3. Define your understanding on the benefits and return on investment sought by the customer, same rule applies etc
  4. Define your proposed solution – what, where, when, how, who and save why for the next paragraph
  5. Define WHY your solution is right for them – three or four compelling reasons to buy your solution to meet their business requirement
  6. Define your costs, the timescales and the next action.
• Proposed Solution – an overview in a few pages of point 4 in the Management Summary.
• Proposed Costs – self explanatory, but ensure you give them choices if they need them, i.e. understand their budgetary position etc.
• Assumptions – state any assumptions that you have made or agreed that would effect your proposal if they were not to be.
• Options – talk about solutions that you want them to consider after this solution has been sold and delivered
• Appendices:, to include
  

• Solution Detail – a section that people can skim read that covers the widgets of your solution, i.e. standard marketing words and more
• Company Overview – talk generically about yourselves here because if they don’t know most of this you should be doing this now anyway

Depending on the complexity and value of your solution, such a document should take anywhere between one and ten days.  A lot of content should be what is known as ‘boilerplate’, i.e. standard product or service descriptions.  We have worked with a number of organisations to create this content, as well as creating a standard template to present it in, which helps to enforce a standard approach to this type of sales marketing, and make life easier for all concerned.

During our involvement with IBM/Lotus, we used the above approach with one junior sales person who set an example for us all to follow.  She took the first three points in the Management Summary (the ones that didn’t mention Lotus) and developed the words hand in hand with her coach, getting his input and approval BEFORE submitting them to us for inclusion on the final document.  This approach demonstrated initiative and a great relationship with the customer – and delivered the business!

Written by Chris Whyatt, Managing Director of Practical Bid Solutions, September 2001

The launch of Get to Great...

I know a blog is not meant to be a direct sales pitch but here goes anyway...

Today (Friday 11th July) saw the launch of Get to Great, which is (hopefully) explained fully at www.gettogreat.co.uk so please take a look and let me know what you think.

If you 'like' the video I might be persuaded to share the bloppers version with you.  Just ask.

How to avoid end-of-quarter chaos...

Last year I worked with a company that is very quarterly driven, and noticed immediately that the end-of-quarter atmosphere was very chaotic, reactive and negative, resulting in a very destructive blame culture.   People who should have pulled together didn't, resulting in bad feeling and broken friendships.  Opportunities were not being maximised, and revenue was being lost or delayed.

 

To me (as a roving sales operations & bid consultant) the answer was simple – start an end-of-quarter War Room; and idea I had seen work elsewhere with great success.

 

I scheduled a 9am 1 hour War Room meeting for the last 10 working days of the next quarter, and sent out the invitations well in advance to inside sales (to represent field sales, who would be out closing deals), order processing, credit control, services and a selection of senior management.

Nobody wanted to come – believing that they would be too busy making the end of quarter ‘happen’. The phrase 'those who fail to plan, plan to fail' or similar came to mind.

 

The first meeting was difficult, a few folded arms and lots of defensive behaviour.  I explained the purpose and handed over to an internal champion, who I will call Lou.

 

Lou took the meeting by the scruff of the neck and drove the value home to all in attendance.  Arms started unfolding!

 

Lou did a ‘round the room’ to enable people to highlight any issues that would impact quarter end, documenting the points on the whiteboard.  He then did a list of all outstanding upside and commit deals, noting the issues and owners.

 

Credit Control highlighted the importance of setting up accounts early for new customers; Order Processing highlighted the need to get the paperwork right; people were really buying in at last.

 

This process was repeated daily for two weeks; same room, same time, same participates; and was greatly boosted by the attendance of various different senior managers on different days.

 

As a result the chaotic, reactive and negative atmosphere and blame culture was replaced by an organised, proactive and positive one, and the end of quarter was viewed and the smoothest ever.

 

The War Room concept has been repeated ever quarter since, and was recently extended to the last 15 working days.

Do you do something similar? Does it work for you? If not, why not give it a try?