I'm a fan of binary, especially when it comes to forecasting. Your business deal will either be won or lost, no factoring required. If you don’t do it already, try it and you will soon see that it puts a different perspective on your forecast. If you forecast a deal, what do you have to do to make sure it comes in? If your forecast is less than target, what are your doing to sort out the gap? What simple questions!
Going binary requires good Qualification, a deep understanding of the prospect’s Business Imperative, a great Value proposition and an excellent Influencing strategy. Get it right and forecasting accuracy increases along with an increase in business… and that all important increase in commission!
If you are not already binary successful and you want to start the process, then have a look at particular business risk to make sure you're on the right track. One of my favorites is having property condition assessments before investing in a property. It's always exciting buying a property, but you can mess your business up right from the start if you're not smart. On your next deal, develop a Business ImperativeAnalysis with your prospect and you will be amazed at how the deal will progress… it could be the difference that make the difference.