I know a girl that’s a self-confessed geek. She professes to be a maths genius and can do demon sudokus quicker than I can work out my body mass index. So it’s unsurprising she’d be interested in a Horizon show from the beeb on how numbers can help us to make better decisions. Entertainingly, to promote the show, there’s an online decision-making calculator to help you make any of three decisions; whether to buy, apologise, join gym.
It’s the former that is of interest to us reps. Even though it’s based around a personal choice and therefore outside the realms of corporate procurement, there’s a brilliant message which will hit the subliminal swayer of any buyer you know that’s a bit of a numbers nut on the quiet (that’s definitely every finance and IT bod for instance).
I can gleefully imagine how if a prospect is slightly unsure of going ahead with something, especially if it requires unbudgeted spend, an adaptation of the variables used in the equation can both distinguish ourselves from anyone else competing for cash from the company, but also help to provide a compelling business case. Check out the link above for the variables in full and how to construct the equation (and to play around with the reckoner) but a brief summary is:
W = how much you want it (1 to 10)
I = how much you need it (1 to 10)
N = how good an investment (1 to 10)
You multiply these together then divide the answer by 70.
Leave this figure for a moment. Then there are 3 figures which you’d need to adapt for the corporate environment. These are monthly salary, bills and rent (S, B, R). Obviously you take the latter pair from the first value. These could be switched for commercial finance structures, like sales, fixed + variable costs of course, or others which prove advantageous to your cause. That result is then multiplied by number of months you’ve thought about buying something of this ilk (M). You then add to this the balance of your account, and divide the answer by the price of your item.
Multiply the two figures you now have. If the answer is more than 1, then buy baby buy! If nothing else, this will provide a relationship enchancing avenue during a meeting. You should though I guess, ensure you calculate a rough equation yourself before using it in the cauldron of a sales meeting, lest you produce a figure below 1! Although, this could still be a neat qualification indication, judging by any reaction they have to that fact….!