CHAPTER 23
Agreement and Transition
Victory!
You’ve just been notified that you’ve won the business. This is where the real work begins.
To begin with, you will want to use that same Pursuit Navigator template discussed earlier to conduct a postmortem session designed to identify what you did well and perhaps not so well, even after a win. This will deliver more lessons learned and help ensure that you maximize the likelihood of winning again—with this client or with someone else. It’s not a separate chapter because it’s exactly the same process. Sometimes you win and you learn!
A True Story
A large document management, equipment, and services provider—we’ll call them PrintXX—submitted a winning proposal for on-premise print management services for the corporate headquarters location of PRR Bank, a regionally based bank with 112 branches in a tristate area. While kicking off the new relationship, PrintXX requested a debriefing of their winning proposal. PRR shared their selection process, which involved the process of elimination to pare down from the list of four submitting vendors to the winner. In reviewing the grading of the selection criteria, it emerged that, while PrintXX was the clear winner, a key contact, PRR’s VP of marketing, had voted for another vendor, RT Inc. Why?
The post-win analysis revealed that RT’s full-color capabilities allowed for quicker turnaround for on-demand marketing jobs. Understanding this issue, PrintXX was able to meet with PRR’s marketing department to better understand their unique needs. As a result, PrintXX restructured their processes and equipment configurations to address the marketing department’s on-demand needs for color. This resulted in an increase of 15 percent in the variable revenues over the proposal dollar value for PrintXX and a savings of over $225,000 annually for PRR.
Stand Your Ground, Tactfully, and Professionally
You now have to move from verbal agreement to a fully executed contract that is fair to both sides. Your company was chosen for a reason. Now your job is to finalize that commitment as professionally and seamlessly as possible. Of course, you’ve earned the right to do that. Often, attorney-to-attorney communication will be necessary to streamline contract issues.
The Haze of Victory
What’s the very first thing you would do if you won the lottery? Most people tell us that one of the first things they would do would be to tell a loved one.
There’s a potential problem with that approach, though. Once you celebrate the windfall by pulling out your phone and telling your husband/wife/mother/father/son/daughter, etc., who else is going to know? Everybody! These days, big news makes it onto social media pretty quickly. All kinds of interesting things are going to start happening after that, not all of them conducive to your best interests. Maybe it makes sense to keep your cards close to the vest for a day or two—and call your financial advisor before you call anyone else.
What about in the enterprise world? Do you think that kind of thing ever happens after you get a verbal agreement? Telling one or two people about a big win, which then turns into having told everyone on Earth?
That’s called a poor decision after a big win. At all costs, avoid broadcasting your win until the contract is signed. Even if you don’t put the news out on social media, someone else you talk to may—and that puts you in a horrible negotiating position. Celebrating early is a margin-killer.
Countdown to Launch
As the contract structuring continues, it makes sense for the winning firm to begin preparations for the start of service. Making reasonable assumptions to proceed with your startup plan makes sense, but you should defer any significant financial and personnel commitments until you have signed contracts.
Below, you will find a helpful review of the key communications and the most important action items. Use it as a prekickoff checklist.
Before the Contract Is Finalized
Double check:
• Delivery team organization chart
• Roles and responsibilities
• Scope
• Engagement approach
• Goals/mission
• Management approach
• Schedule
• Deliverables
• Quality plan
• Work breakdown structure
• Acceptance procedures
• Status of reviews
• Assumptions
• Constraints
• Risk mitigation strategy
• Process/methodology
As you prepare for the project launch, the coinvolvement of sales and delivery team members in the crafting of the agreement is particularly important. This is how you lay the foundation for client satisfaction and account growth.