I Used to Rely on Handshake Deals for Networking Here. That Almost Cost Me a Big Client.

Up until about 8 months ago, I always did business introductions just with a handshake and a verbal promise. Then I lined up a $5,000 contract with a local retailer down on Whyte Avenue. They backed out last minute because they said I never sent a follow-up email. Now I use a simple one-page agreement for every new connection. Has anyone else had a verbal deal fall through that messed up their Edmonton business network?

2 comments

2 Comments

patriciah513d ago

Ngl, that's just Edmonton business 101 right there. A handshake and a promise is like betting on the Oilers to win the cup every year. You're always gonna be disappointed. Honestly, I'm shocked you got to a $5,000 deal before someone pulled that. I've lost count of how many times a "solid verbal agreement" turned into crickets the next morning. Tbh, good on you for switching to paper, but maybe also start getting a deposit upfront. That'll really separate the serious folks from the time wasters.

jamiew533d ago

Honestly, the "solid verbal agreement turned into crickets" part hit close to home. I mean, how do you even know if someone's serious without some kind of paper trail? That deposit thing you mentioned is interesting though. Do you usually ask for a specific percentage upfront, or is it more of a case by case thing?