Thought For The Week

A TRUE sale is not a lead, a meeting, the signing of a contract, the carrying out of work, the follow-up meetings. A true sale only happens when you get paid.

(Please comment, or give an alternative)

(Extract from The Naked Millionaire)



3 Comments

  • Chris Everton

    How true.A friend of mind thought he'd hit the big time with a £1m order.He was chasing turnover and didn't really look into the company he was dealing with.He agreed to do the work, paid for materials etc up front and worked on the premise of getting paid within three months, then the final total in six months.having done the work and paid out a fortune to get it done, as well as bringing in extra staff via sub contracting, he is still waiting for the first payment and thinks it is all over for his company.Chasing turnover, that magic million, is not always a good idea as he found to his cost. Turnover vanity, profit sanity and all that.

  • John

    That's an example of just how NOT to do business Chris. Thanks for sharing that. A lot of business owners think the turnover is the biggest thing in their lives when actually, it's got to be all about profit when it comes to the financial aspects of a business. I firmly believe the customers come first and then you can take the business on and profit will follow.I guess for builders and professions such as those, it's more difficult to do your homework before you take on a contract but you really have to know who you are dealing with. Credit history checks are crucial.

  • George

    Sales have never meant much unless you have been paid. So it's just common sense not to think the deal is done until the money is in the bank.

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