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Aerospace BizDev News from Linda Wolstencroft
Newsletter #43 –
January 15th, 2015

Linda Wolstencroft’s monthly Newsletter offers business leaders insights on business growth in complex situations.

 

Legal and Contractual Terms and Conditions:
This show must go on

I recall working with a company lawyer who made it his business to say “no” to just about everything. It has crossed my mind that perhaps he saw his job as being an obstruction. He would identify every single small risk and create an elaborate story about how there was indeed a probability that an issue could occur, and that if it did and the most extreme circumstances arose, we would be putting the company into a dire situation. However, he would never take it upon himself to validate the likelihood of the circumstance occurring. More shockingly, he would look for ways to make the contract go away instead of considering ways to fix it such that the risk was properly shared.  Perhaps he was looking to decrease the number of contracts he had to manage without realizing that if the company had fewer contracts, they might no longer even have the need for a full-time lawyer.

Luckily, in many other cases, there are contract managers and lawyers that are involved and helpful. They understand the business objectives and are an important part of the team that wins new business. They get involved with technical and pricing issues and do the work required to develop an understanding of them. These people are the ones that we want on our team.

I don’t have to educate most of you on the subject of the two components to risk: likelihood and severity. These measures are commonly used in program management, but sometimes get lost when we are dealing with contractual and legal terms. A simple example is an airline crash. If it happens, it is severe – but the likelihood of it occurring is tiny. It will happen, but this does not mean that (most) airline passengers will stop flying. And it doesn’t (always) mean that we should not accept the term or condition that has a very small probability of occurring (of course, if there is another workaround solution, this should be proposed; but in an extreme case where it is not, you should consider the likelihood, and further, the management of the risk so that you can decrease the likelihood of such a situation occurring).

There are countless cases in which contracts do not get signed because one or more parties cannot find a way through fair terms and conditions. In these situations, the companies will never find agreement (for example, each will settle for nothing less than being the prime), and they should go no further.

In other cases, contract negotiations are workable but drag on and take a long time because one or more of the parties is engaged in a posturing exercise.

As a final thought, manage your contractual risk through maintaining excellent business relationships. A relationship that is close and positive has a far better chance of withstanding a negative occurrence. After all, it is the executives who make the decisions in the end, not the lawyers.

This Newsletter has addressed the complex decision of Legal and Contractual Terms and Conditions. Decisions related to Legal and Contractual Terms and Conditions comprise one set of nine complex decisions that are required when developing the winning solution for a complex sale:

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“RED TEAM REVIEW” - LINDA WOLSTENCROFT’S PROPOSAL Exposé, Dramatically Growing Sales

This unique service is offered by one of the few experts in business development in aerospace. Learn from over two decades of developing and reviewing proposals – dramatically improving clients’ success rates of winning new business from government and the military, airlines, helicopter operators, OEMs and prime contractors, throughout North America and internationally.

This essential service will change the game for your business development efforts and significantly increase your probability of winning.
  
Outcomes you will gain:

  • Set a winning strategy
  • Align your entire proposal with your strategy
  • Boost your technical, management and past performance scores
  • Identify key areas of weakness and make them irrelevant
  • Mitigate risk areas
  • Avoid the business killer:  being non-compliant
  • Add dynamic material that captivates the evaluators
  • Escape the doldrums of boring sections
  • Creatively use visuals for best impact and maximum points
  • Make it easy for the evaluators to see your value

Your proposal will be dramatically improved AND you will be able to generate better proposals in the future.

This service is available when, where, and through the best medium for you. 

Contact Linda for more information.

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WEBINAR NOW AVAILABLE FOR DOWNLOAD: “B2Bs AND THE QUICKER CLOSE: GENERATE MAXIMUM SALES TRACTION IN B2B MEETINGS” – With Linda Wolstencroft, Lockheed Martin Canada and The OMX

Do you want to increase your speed of selling? Land important contracts quicker? This webinar will help get you there.

Enhance your sales performance using meeting situations as a tool to advance your sales.

This webinar features live feedback from a prime contractor on what captures attention when meeting suppliers, advice from a seasoned professional who has first-hand experience with failures and successes, a description of the new and innovative tool of The OMX that puts you in contact with a community of like-minded companies, and connects you to primes looking for Canadian suppliers.

Click here for more information and to download.

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THE BUSINESS DEVELOPMENT COACHING PROGRAM – Gold, Silver and Bronze Levels

Improve your performance like you can’t even imagine.  Learn how to land the big sales.  The coaching program is a highly effective way of learning what you need, when you need it.

Click here for more information.

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