Securing and Negotiating a Three Million Dollar Contract
Problem: A sister company to one of our largest customers was initiating a 150 location image conversion program and was going to put it out to bid. Competing with companies 10 times our size we needed creative ways to not only secure the new bid but maintain our existing relationships.
What I did: I successfully planed, negotiated and secured the contract.
How did I do it specifically: I set the initial pricing and cost models for the project defining what could be our lowest price for the online reverse auction. This pricing model resulted in a second place position for overall pricing, securing the opportunity for a face to face presentation. I was the key presenter at this presentation and consequently we were awarded the contract. I then successfully renegotiated the contract to remove a one million dollar penalty clause, increase the initial customer financial commitment by 50%, and increase the project scope to include items that had a higher profit percentage.
Tangible results: The relationship has expanded to an almost personal level and is solidified for many years to come. The company’s market share in it’s niche market increased by 12% and it is now recognized as one of the leading companies in it’s industry.
What skills did I demonstrate? Problem-Solving, Persuasion, Analysis, Communication
