Your Deal Isn’t Closed Until You Deliver Results

Published on June 6, 2024

As some of you may know, one of my greatest success stories was helping a multinational chemical manufacturer change the way its industry bought. After working with this client for 18 months, we repositioned them with their customer. As a result, instead of buying a supply agreement based on a lower price in a bid every three years, their customer eliminated the bid process and negotiated a 10-year, $200 million contract with my client.

Obviously, if you managed to do something like that, you would celebrate hard and long, just like my client. But shortly after we got the deal, I started to sober up my client. I said to them: “Just because you close the deal that has penalties for early cancellation, it doesn’t mean the client cannot cancel at any time. You still have to perform. We still have to exceed the expectations of our clients throughout the length of the contract. If we don’t, the negative impacts far outweigh the penalties they will face, and they will simply decide to cancel the contract.”

So don’t stop doing what you did to get the deal. Keep working hard, stay on top of your customers’ needs, and continue to exceed their expectations. Only then can you feel really confident that they won’t cancel it.

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