Leor Franks sets out a system for assessing business development investments, involving a test with four key elements
- This article describes a business development test that involves four elements: creativity, alignment, return and diligence (CARD).
- When all elements are used together, it can speed up decision-making and ensure a more systematic approach to actions.
- The article also proposes a simple way of driving adoption, using a one- to three-point scale.
Approaches to decision-making on strategy, culture, financing, risk and markets vary significantly across the professional services sector. Although there are many differences, one constant is the challenge of selecting marketing investments capable of driving long-term growth, while managing budgets on an annual basis. Across the industry groups I chair and the firms in which I’ve led business development teams, I’ve observed a variety of approaches to balancing these pressures. Over time, I’ve taken the view that there are four key elements that go to the heart of the debate. Addressing these can help ensure you ‘play the right cards’.
These key elements are creativity, alignment, return and
