Apply J-Value To Your Prospect Case
J stands for Judgment.
The 162 countries with data follow a fairly well defined curve for the relationship between GDP per capita and life expectancy. You can apparently plot how much GDP falls from coronavirus lockdowns against any prolonging life expenditure for impact on mortality.
Using this as their J-value, Bristol University Professor of Risk Management, Philip Thomas ran the numbers for the UK.
The number of lives lost, as result of lockdowns reducing GDP by the IMF projection of around ten percent this year, put at an astonishing 560,000. Greater than the country’s losses from the Second World War.
Whatever the voracity of this prediction, or even your predilection towards the construct, there is indeed something in the framing of a J-value.
Think about calculating the business case.
The vaunted RoI.
Normally a raft of figures on a spreadsheet.
Typically with a degree of sensitivity built in.
Think fan charts. Any graph with E labels, for ‘Estimated’. With bands of plus or minus a certain tolerance shown.
The J-value enables balancing the risks and costs of mitigating those risks.
In this case, balancing life expectancy against the cost of a safety measure. Used to suggest how much life expectancy is lost if there’s a long, lasting recession of ten percent or more.
But what could it be in your case?
You could create a brand new value and term it your prospect’s ‘J’.
Or re-label a specific existing one. Perhaps ambiguous or most under scrutiny. Automatically rendering it ‘contentious’ or re-positioned as ‘managed’.
Candidates could even stretch to unintended consequences.
Sales joy though, could simply emanate from allowing your prospect to exercise their personal ‘judgement’ on the measure. Duly ‘owning’ the business case. Under your judicious supervision, naturally.