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How to Propose a Business Idea to Your Company
Whether you've thought of a way to improve employee efficiency or a product that could boost your company's sales, it's natural to feel excited about your ideas and anxious to see them become a reality. Before you can put your idea to the test, you'll need your boss's approval. Proposing business ideas can be a daunting experience, but thorough preparation and an effective presentation can help convince your boss to implement your ideas.
Fine-Tune Your Idea
Before approaching your boss to share your idea, make sure you have thought it through properly. Determine how your idea coincides with your company's vision, goals, business strategy and resources. Figure out how much it will cost, how much it could earn and what long-term impact it will have on your company. Identify weaknesses in your plan and formulate solutions to strengthen these areas. Your boss will inevitably have a lot of questions when you meet with him, so it's essential that your idea is fully developed and you have an answer for anything he might ask.
Draft a Proposal
Put all the details of your idea together in an organized format that's easy to present to your boss. For example, you could write up a traditional written proposal, design an infographic poster or put together a Powerpoint presentation. Include information regarding the purpose of your idea; the estimated cost, including materials and labor; the payoff to the company, whether it's a product or service that can increase sales and profits or simply a way to improve productivity; and any other important details. Proofread your proposal to ensure there are no spelling and grammar errors. Triple check your calculations to ensure the figures you present to your boss are accurate.
Arrange a Meeting
Contact your boss to arrange a meeting. Tell her why you want to meet with her so she isn't caught off guard when you arrive with your proposal in hand. Let her know that you'd like to discuss an idea you've come up with, and tell her a little bit about it. You don't need to go over your entire proposal while scheduling a meeting. Simply tell her what your idea pertains to. For example, say that you've thought of a new sales technique or training method that could benefit the company. You'll have plenty of time to elaborate when you meet in person.
Present Your Idea
When you meet with your boss, your goal is to sell him your idea by making him realize its benefit to the organization. Begin your presentation by addressing the problem that led to you formulating your idea in the first place. For example, you might discuss how poor employee morale has led to declining levels of productivity. Lead this into an explanation of how your idea would fix the problem. For example, explain that allowing employees to work from home on Fridays would boost morale and increase productivity. Once you've established how your idea could benefit the company, lay down the details. Go over your calculations and discuss the costs and benefits. It's essential that you remain confident throughout your presentation, but refrain from coming across as too demanding. Remain open to suggestions for ways to improve the idea.