 |  |  |  |  |  |  |  |  |  |  |  |
Clothes make the man-An executive summary makes a proposal
"Clothes make the man" said Mark Twain. A great executive summary can makes a good proposal look great. An EC is intended for the executive, the decision maker. It's a summary of what you have to say for the executive. A good executive summary should in under 60 seconds convey the value proposition in such a way as to pique executive interest and put you ahead in the buying cycle. Yes, if there is one thing an EC is supposed to do, it is to SELL! A proposal might inform, educate or describe, but an executive summary should primarily be designed to sell. Here's my anatomy of a great EC.
Establish connect. Get the executive’s attention.
One favorite trick of mine is to put quotes from top executives of my company and the customer company side by side. The quotes should echo a common strategic priority, theme or vision and should be central to the proposal. The underlying message is “Deep down we share the same values and live true to the same spirit”. This also serves to differentiate the proposal from the standard “start with the problem statement“ platitude that can literally put executives to sleep. You have got attention. Good. Now, on to the problem statement.
State the problem in a way that goes beyond what is present in the RFP.
The trick here is the big picture. See if you can speak to people in the client’s company (of course while keeping in mind obvious restrictions), look up their website, read up industry newsletters. Basically anything that helps understand the drivers and pain points a little better would help you go beyond the obvious. A more intimate definition of the problem helps a great deal in differentiating your solution. Most large companies have some broad theme that is the focus area for the year and the flavor of the season. It could be efficiency, people, customer or anything else, but it is important to know this and tie in your problem with the bigger overlying theme. The result is that you are stating the problem in a manner that the executive can really relate to and also letter her know that you are ready to go the extra mile. The problem statement should make her sit up and think of you as a true strategic partner- some one who really understands.
Deliver the killer punch
The killer punch has two aspects. The logical and the emotional. The logical part comes when you establish credibility by marrying the problem statement to the pain areas and the pain areas to your strengths. If you feel high legacy maintenance cost is the biggest pain area, speak about the specific ways by which you can reduce the cost-offshoring, reduced cycle time, and improved processes. Essentially turn your company’s individual competencies to hit this pain point weaving a consistent and focused value proposition. Finally end with a promise. This adds the emotional edge that your value proposition needs. Give out quantitative figures that you are willing to commit to if you can. Before you sign off express gratitude and the fact that you would be delighted if awarded the contract. Which client would not trust a vendor who truly understands, is willing to go the extra mile in doing so and gives a promise that are credible ?
Establish connect. Get the executive’s attention.
One favorite trick of mine is to put quotes from top executives of my company and the customer company side by side. The quotes should echo a common strategic priority, theme or vision and should be central to the proposal. The underlying message is “Deep down we share the same values and live true to the same spirit”. This also serves to differentiate the proposal from the standard “start with the problem statement“ platitude that can literally put executives to sleep. You have got attention. Good. Now, on to the problem statement.
State the problem in a way that goes beyond what is present in the RFP.
The trick here is the big picture. See if you can speak to people in the client’s company (of course while keeping in mind obvious restrictions), look up their website, read up industry newsletters. Basically anything that helps understand the drivers and pain points a little better would help you go beyond the obvious. A more intimate definition of the problem helps a great deal in differentiating your solution. Most large companies have some broad theme that is the focus area for the year and the flavor of the season. It could be efficiency, people, customer or anything else, but it is important to know this and tie in your problem with the bigger overlying theme. The result is that you are stating the problem in a manner that the executive can really relate to and also letter her know that you are ready to go the extra mile. The problem statement should make her sit up and think of you as a true strategic partner- some one who really understands.
Deliver the killer punch
The killer punch has two aspects. The logical and the emotional. The logical part comes when you establish credibility by marrying the problem statement to the pain areas and the pain areas to your strengths. If you feel high legacy maintenance cost is the biggest pain area, speak about the specific ways by which you can reduce the cost-offshoring, reduced cycle time, and improved processes. Essentially turn your company’s individual competencies to hit this pain point weaving a consistent and focused value proposition. Finally end with a promise. This adds the emotional edge that your value proposition needs. Give out quantitative figures that you are willing to commit to if you can. Before you sign off express gratitude and the fact that you would be delighted if awarded the contract. Which client would not trust a vendor who truly understands, is willing to go the extra mile in doing so and gives a promise that are credible ?
Account Management Client Management Selling
Linking and Sharing
If you found this page useful, consider linking to it.
Simply copy and paste the code below into your web site (Ctrl+C to copy)
It will look like this: Clothes make the man-An executive summary makes a proposal
Trackback
Tell a friend
First of all, great site. Ive been doing sales, and pitching for over 8 years and without specific procedures and although I’ve done pretty well, I realize as time goes by and as I change positions or when I change from companies, my criteria and procedures tend to get mixed up. Reading this blog has helped me clear my head a little. However I am somewhat unclear on how to present an executive summary. Is there a place where I can see written examples. Also, if possible, I work a lot with cold calls, so how do procedures change when you do the EC through the phone. Please take in mind I work with international markets so its really impossible to make a face to face presentation.
Well, I hope you continue with the site, I noticed your last post was in February. I appreciate any help you may give me. I feel this helps me motivate myself to grow.
Hope to hear soon from you, and thanks in advance for your advice.
Best Regards,
Sebastian
Comment by Sebastian Moncayo — May 4, 2008 @ 12:34 am
By the way, any helpful information can be sent to juansemoncayo@gmail.com
Thank you,
Sebastian
Comment by Sebastian Moncayo — May 4, 2008 @ 12:36 am