Changing deal terms at the 11th hour on a 7 figure corporate contract.
I made this costly mistake many years ago and have never done it again since.
At the time we felt the change in commercial terms was justified, but looking back I realise that the small, seemingly non-material adjustment was hugely symbolic for the buyers, and made them loose trust in the solution we were providing and all prior negotiations that led up to the contracts being issued.
I learnt that the relationship between a buyer and seller is all about certainty, and in this instance we lost the organisations trust at the most crucial moment.
Since then I’ve ensured to build greater certainty and consistency into every relationship and transaction I’ve been involved in. I’ve also looked out for this as a buyer, and been aware more aware of potential red flags along the way.