Energy efficient lighting is a quick win for business and environment. But, as with any corporate request, winning Board level approval for cash (or finance arrangements) requires proof, logic and a rock solid case.
Our Managing Director – BOB HALL – shows you how to make your Board colleagues sit up, listen and act now!
1) Highlight the cost of doing nothing
Inefficient lighting costs your company every single day. You need to work out the real money your firm is losing. Pinpoint energy usage and lighting maintenance costs and how you would improve them.
Prove how modern, efficient lighting can increase productivity and goodwill in the workplace. Quantify what these elements mean in terms of potential or increased profitability.
Together, these steps are known as ‘monetising the risk of inaction.’ They are the first moves towards making your business case.
2) Speak the language of the decision makers
You must speak the same tongue as the person who signs off the cash. Your Finance Director will be more concerned about capital cost rather than energy savings.
Therefore, highlight funding solutions and options that don’t require excessive capital expenditure.
Explain how embedding efficient lights will help to add to the bottom line at year end. How to pay for all this upfront? That comes next…
3) If finance is an issue…
Investigate schemes like our own Greenlite Lighting Finance Scheme. By illustrating how finance need not be a stumbling block, and need not damage the books, you are simplifying the path to budget sign off. Our scheme is backed by the Carbon Trust and Siemens and allows clients to pay for the cost of their upgrade through monthly payments which are outweighed by the savings made on energy bills.
There is no risk and no upfront capital outlay, and no catch! It’s as simple as that.
Lighting finance schemes like the one offered by Greenlite really do provide a very easy, no risk route for organisations to reduce bills and improve their working environments through better lighting.
4) Think ACE: Achieving Communication = Efficiency
Facilities and energy managers know energy efficient lighting upgrades are fast, easy to install and offer rapid ROI. So too do plenty of chairman. But a recent survey by 2Degrees highlighted the biggest barrier to lighting improvements is pushing the business case to senior management.
Management boards exist for a reason; keeping a company in profit. For the Board, efficient lighting benefits may be obvious, but they mean nothing without evidence.
Your business case must be compelling, accurate and communicable. To help you build such a case for change, Greenlite offers an in initial site survey, detailing compelling payback calculations and capital outlay.
5) Back up your argument with real life case studies
In UK businesses, LED and low energy lighting and controls continue to score highest among efficiency schemes that do get past the board. The recent 2degrees Trends Tracker survey found 55% of respondents had already invested; 59% of those who hadn’t planned to invest.
What are you waiting for..?
Evidently, two thirds of firms already know lighting efficiency is the way forward. All that’s needed are the quantifiable benefits to sell that win internally.
So look for these. Talk to other firms in your sector and ask them to share their efficiency successes. External proof, combined with a solid internal proposition, will get you the green light.
Want to find out more about lighting finance? Need help building your business case? Give us a call…