Episode 18. Navigating Verbal Agreements in Sales

Navigating Verbal Agreements in Sales: Risks and Precautions

In this episode of Deep Dive, the hosts discuss the importance and risks associated with verbal agreements in the sales world, particularly between representatives and principals. They explore three common scenarios where such agreements might occur—the 'hot lead dilemma,' the 'power meeting temptation,' and involving activities like rep training and product launches before a formal contract is signed. Key points include the importance of documenting agreed terms, understanding the risks of unwritten agreements, and ensuring clear communication to prevent conflicts. The episode emphasizes that while verbal agreements can be necessary, written contracts should always be the goal for protecting interests and fostering strong business relationships.

•  00:45 Introduction to Verbal Agreements
•  01:45 The Hot Lead Dilemma
•  03:06 The Power Meeting Temptation
•  04:32 The Importance of Written Documentation
•  06:03 Conclusion and Teaser for Next Episode