ON THE COUCH: Shocking Confessions of a Self-Made Millionaire: Baby, If You Ain’t Got Back End, You Ain’t Gonna Succeed
Here’s the unvarnished, uncensored truth about success. Even if you’re a rock star sales person who knows how to sell, if you don’t put at least as much effort into taking the deal and your client relationship successfully through the back end post-closing process, you will not ultimately achieve the success that you initially thought you had “in the bank”. And, any gain realized at closing, could be lost, or even worse, cost you more than you initially banked.
I don’t want you to think this post only relates to business, because it relates virtually to every aspect of your life. The success of your life (personal, financial, physical, emotional and spiritual) is contingent upon an on-going commitment to actively engage in efforts to do what you need to do to keep all your affairs operating in good working order.
Too many times, I’ve either witnessed or been a part of a deal gone bad because someone who sold something dropped the ball on delivering the goods, services or warranties that were promised.
Baby, if you ain’t got back end, you’re gonna regret it down the road. It just ain’t worth the risk. Take the time to take care of the deal, transaction, contract, relationship, or account. If you do, instead of regrets, you’ll achieve maximum sustainable success…and be a whole lot happier, healthier and wealthier in the long run.
You don’t close a sale; you open a relationship if you want to build a long-term, successful enterprise. ~ Patricia Fripp
Here Are the Top Six Things You Must Do to Achieve the Optimal Back End Strategy for Long-Term Success:
1. Live the Reality the Sales Cycle Does Not Stop at Closing the Sale. See it as phase 2 of building a successful long-term relationship and nurture it.
2. Maintain A Balanced Achievement of Pursuing New Sales and Servicing Existing Customers. Repeat business is the biggest payout you can achieve. If you’re only focusing on new sales and new leads, you’ll shortchange your success.
3. Realize Achieving a Successful Deal Is Found in the Details. Fearlessly pay attention to the details of the deal. Many people fear losing a deal if they assert their boundaries on deal points and contract terms.
4. Be Honest with Yourself and Others. Don’t offer something that you realistically can’t manage to maintain over the term.
5. Value and Prioritize Your Relationships Over Money. When you care more about people than money, you will begin to see both your wealth and well-being skyrocket.
6. Habitually Go the Extra Mile. Exceed in delivering more service and value than necessary or expected.
At the end of the day, your relationships are what makes you or breaks you. Whether it’s your relationship with yourself, others or God; as you consistently and continuously serve, appreciate and value them, they will, in turn, serve you by adding long- term value to your wealth and well-being. If you got back end, they’ll in turn, cover yours.
In Closing My Shocking Confession: I had just signed a long- term lease agreement with a great company to provide their product to my enterprise. The terms of the deal allowed them hefty earn outs and commissions during the life of the contract which would far exceed the purchase price. Both the provider and I were very excited about our new relationship and we sailed through the closing. They banked the purchase price. And, within 60days, all the problems began. A whole host of issues arose from not having the support staff as promised, to constantly charging for non-contract driven items. After months of friendly attempts to get them back on track, they finally come forward in stating they didn’t have what they had promised and didn’t have the resources to deliver on the contract. However, they expected me to honor the terms of the contract by solving and financing their problems for them! Their belief that they “had me over the barrel” for all the time, effort and expense I’d invested, emboldened them to attempt to extort more from me. They didn’t believe I would walk away. I’m sure you can guess what I did? I cut my losses and got out. And, legally recouped cash.