Be prepared, use B.A.N.T.

Prepare yourself for success in your next project by addressing crucial questions: How do I find the right vendor? What challenges might arise, and how can I navigate them?

A well-crafted plan is key for a seamless journey, presenting an opportunity for growth within your organization. Yet, if internal capacities fall short, success often hinges on finding the right vendor. Before immersing yourself in project details, like feature selection and monetization strategies, take a step back to define your starting point. Enter the B.A.N.T. framework – your guide to effective project preparation.

B.A.N.T. framework

B.A.N.T., which stands for Budget, Authority, Need, and Timeline, is a checklist that can be used to evaluate a potential opportunity. Although sales teams mainly use it to assess the likelihood of a sale, you may also use it to your advantage when preparing for interactions with sales representatives.

Consider the following questions and how to address them:

• Budget: Do I know the budget allocated for this project? Is the budget available for use? Can I afford the cost of the vendor’s services?
• Authority: Who has the decision-making authority for this project? Do I need approval from higher-ups?
• Need: How urgent is this project? Is it a necessity or a nice-to-have feature? Am I fully committed to the project? What will it cost my company or me if we won’t do this project?  
• Timeline: What is the timeline for the project? Can it begin in two weeks? How soon do I need the vendor’s services?

Answering these questions can help you prioritize the project and allocate resources accordingly. You will be prepared and save your time and the time of potential partners during the exploratory calls, which will be a win-win for both parties.

Do you have all the answers?

 Why not get in touch with us and allow us to assist in expanding your business.