Sales Quiz: Is This a Done Deal?
SCENARIO: Let's see if you REALLY understand the way things work in the real world. Here's the situation. You've met with the decision-makers for a large B2B sale. At the meeting, you asked for the business. Everyone around the room said "Yes" and you shook the hand of the CEO.
Is this a done deal?
No! This is not a done deal.
If you don't have a signed contract, you don't have a done deal.
SCENARIO (cont.): You sent over a contract describing the parameters of the B2B deal. It went back and forth between the lawyers in both firms until everyone was satisfied. Both your CEO and prospect's CEO have signed the contract.
Is this a done deal?
No! This is not a done deal.
Companies do not always honor their contracts, even with the best of intentions, due to unexpected financial problems.
SCENARIO (cont.): After the contract is signed, the prospect sends a P.O. to your firm. Your CFO has determined that the prospect has an excellent financial standing in the business community.
Is this a done deal?
No! This is not a done deal.
Reputation is nice, but it ain't money in the bank. Your firm still hasn't been paid a dime, so the deal isn't done.
SCENARIO (cont.): The prospect sends a check to your CFO. The CFO has endorsed the check and deposited it in the corporate account. It has cleared.
Is this a done deal?
No! This is not a done deal.
There's an important element missing here. The most important element of all, in fact.
SCENARIO (cont.): You have reached into your mailbox at work and pulled out your latest direct deposit slip. It shows a substantial bump in your income as the result of the commission for that B2B deal.
Is this a done deal?
Yes. This is a done deal.
The deal isn't done into YOU get paid. I've gotten dozens of emails from sales reps who never got paid for their work. And if you don't get paid, it's not a done deal; it's a rip-off... of you!
But you knew that already, didn't you?
With that in mind, when it comes to turning a deal into a done deal, there's nothing more valuable than negotiation skills. If you want to hone yours, check out this post: