The Megadeals Discipline Cornerstone #1:
Every large company has a framework with different priorities: preferences with different names depending on the industry and the company. These names can be strategic priorities, initiatives, or key initiatives, among others.
At Megadeals Advisory, we call them key initiatives. We can write thousands of words to describe this section. However, boiling it down, key initiatives are measurable goals that often have a time frame ranging from 1-10 years but can also be projects and programs. Key Initiatives are the means through which a company’s vision translates into practice.
Learning how to apply critical initiatives to different sections within your company is one of the first steps into the world of winning Megadeals.
One example of this could be that your client’s company has five critical problems to solve, obstacles to overcome, challenges to win, or opportunities to seize.
Below is a shorter list of possible situations that you can identify as your client’s key initiatives.
1. Reduce pollution.
2. Reduce energy consumption.
3. Scale the production.
4. Cut costs to increase margins.
If you’re interested in identifying more key initiatives and how to find them, check out the Megadeals Book here.
Once you’ve identified the client’s key initiatives, it’s time to face them, see if your company has a solution to at least one of their problems. If not, it might not be worth even pursuing this deal.
However, suppose your solution matches at least one of the key initiatives of the potential client. In that case, you’re most likely to create an interest that gets the target company curious about you. Then it’s time to analyse why your solution is better than other vendors within the same sub-category so that the client chooses your solution above anything else.
We also, in another article have presented the second cornerstone of the Megadeals Discipline; Ecosystems and ecosystem architects.