If you have teenagers, you have probably heard some pitch like this:
I need a new (I-something, game-pod, gadget) because my old one doesn't work right and it doesn't play the new games. I've done my research. It only costs $500 and you can pay for it by charging it on your credit card and payments are only $50 per month.Sound familiar?
Well, most fire departments sound exactly like this when they go to their council and request the money for a new fire apparatus.
Only, it sounds like this:
We need a new engine because the old one has rust issues and is not NFPA compliant. I've done my research. A new engine costs about $500,000 and I have these financing quotes and the payment would only be $50,000 per year.
So, why does this approach fail?It's because, just like your teenagers, you are forcing the decision maker to make 3 decisions at once. And the choice becomes overwhelming to the council (or parent) and the easy and less risky answer is to just say no.
By presenting this information this way, you are forcing your council to make a justification decision, a budgeting decision, and a financing decision --- all at once.
No wonder most pitches fail.
SummaryHuman nature needs time to make big complex decisions. When you cram a bunch of decisions into one pitch, the default switch tells your council's brain to just say no.
We'll look at this in a little more detail over the next few weeks to help you develop a compelling financial justification case.
John R. Hill