10 Ways to Fight For Your Piece of the Budget Pie
Ever feel like you're running your own company within a company? If you have to constantly fight for your department's share of the annual budget pie, here are a few pieces of advice on how to get what you need to get the job done.
The advice comes from Chris Pick, chief marketing officer for Apptio, a vendor of technology business management software based in Bellevue, Wash.
- Tie any request into a core business initiative
- Make sure the fund will support new business projects for innovation, agility and margin expansion
- Make sure the funding will be used to optimize the department
- Understand that "finance" is the language of the business
- Know the current state of the business and how they treat these requests (sensitivities of free-cash flow, etc.)
- Understand your company's procurement process and how to work within it (negotiating the best rates, etc.)
- Describe the project in business, not technical, terms
- Explain the core services and capabilities that will be provided
- Have a plan to measure return on investment
- Leverage any industry benchmarks or peer sources to add credibility