BANT: budget, authority, need, timeline, and its limits

You will be able to use BANT as a quick qualification check and explain where it falls short.

Look at the deals in your pipeline right now and pick the one you feel best about. Then answer four plain questions about it. Is there money for this? Have you spoken to the person who can approve it? Do they actually need it? When do they need it by? If you hesitated on two of those, you are in good company. Most sellers can describe a buyer's problem in detail and have no idea who signs.

BANT is a simple checklist that would have caught that. This lesson covers what it asks, where it helps, and the two ways it goes wrong if you use it as a script.

What BANT checks

BANT is a qualification checklist. Qualification means deciding whether an opportunity is worth more of your time, based on what you know about it. BANT is commonly attributed to IBM, where it is said to have been used to screen sales leads. The letters stand for four things to find out.

Budget: is there money, or a way to find money, for this? Authority: are you talking to the person who can say yes, or do you know who that is? Need: is there a real problem this would solve? Timeline: is there a date by which they want it solved?

Each one maps onto work you have already done in this course. Need is the root problem from lesson 4.1, Find the problem underneath the first problem. Timeline is the urgency from lesson 4.3, Urgency: why now, and what if nothing changes. Budget and authority are the two that discovery meetings most often skip, and the rest of this module is mostly about them.

Why it is still useful

BANT's strength is that it is quick and easy to remember. Four letters, four questions, and you can run through them in your head in the lift after a meeting. That makes it a good fit for short or simple sales: a single buyer, a modest price, a decision made in one or two conversations.

Wei Ling, the adviser from module 2, uses it this way. After every first meeting she writes B, A, N and T in the margin of her notes and puts a tick, a cross or a question mark beside each, which takes her about ten seconds. If she has two question marks, she knows exactly what her next meeting needs to cover.

BANT is also useful for looking back. Score a batch of deals you lost and you will often find the same letter blank across most of them. That is the gap in your discovery.

Where it goes wrong: order

The four items are sound. The trouble usually starts with the order people ask them in. Read as a script, BANT starts with budget, and a meeting that opens with "what's your budget?" feels like a screening, as if the seller is deciding whether the buyer is worth talking to before showing any interest in their problem.

The buyer's reaction is predictable. They either give a low number to protect themselves or refuse to say. Either way, the trust you built in your opening from lesson 1.1, Why the first two minutes decide the whole meeting, takes a hit.

The fix is to treat BANT as a checklist you complete by the end of discovery, in whatever order the conversation allows. Ask about need first, through everything in modules 2 to 4. Timeline comes up naturally when you ask about urgency. Authority and budget come later, once the buyer has told you what the problem costs, and lesson 5.3, Ask about money without making it awkward, shows you how.

Where it goes wrong: budget as a gate

The second weakness is subtler. Many buyers have no set budget until they understand the problem.

Joel, the cafe owner from module 1, had never budgeted for bookkeeping help. If Priya had asked "what's your budget?" in the first meeting, the honest answer was zero. Then, in lesson 4.2's example, he worked out that his Sunday nights and the accountant's extra fee were costing him about S$6,500 a year, and from that point he had a reason to set some money aside where before there was none.

So expect to discover the budget during the conversation, and do not be put off when the buyer arrives without one. "No budget yet" is a normal answer early in discovery. The questions that matter are whether money could be found if the problem is big enough, and who would find it. Score a deal as weak on budget only when the buyer has understood the cost of the problem and still cannot or will not spend.

A quick BANT review

To use BANT well, score honestly. A tick means you heard it from the buyer. If you are assuming, it does not count. "They seem like they could afford it" is a question mark. "The director is probably fine with it" is a question mark. Most sellers find that their pipeline has far more question marks than they expected, and that the question marks cluster on the same letter.

That clustering is the useful part. If authority is blank on four deals out of five, you have a habit to fix, and lesson 5.4, Map who decides and how, will help.

Open your pipeline or your notes and pick your last five opportunities, won, lost or still open, before you start the activity below.

Score your last five opportunities on the four BANT items and note which item you knew least about.

Course

Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).