Tdd

Account Executive

8 figure deal help with my employer.

I’m a new salesman less than 1 year as an AE after an SDR promotion. To be honest I like my company we are a start up but I heard from other salesman that sometimes they hold onto money until the client pays up. I’m about to close the largest company deal and I wanted to know if anyone dealt with something like this before? Any steps I should take before closing/ after closing?

thanks 🙏🙏

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hh456

Celebrated Contributor

sales

Yes, pretty common. Not sure what your spliff is but lets say you get a lowly 3% commission. On a $10M deal they owe you $300,000. They aren't gonna shit that out right away. They need to wait for the customer to pay up. But the agreement probably also has terms of payment in it so find out what that is and then you can schedule your lambo delivery on the check following the terms of payment. Good job and reel that baby in!

1nbatopshotfan

Politicker

Sales

The most important thing here is to know your comp plan, and the clients payment terms. Once you know those inside and out, you can start to plan discussions with your team about what to expect.

Tdd

Valued Contributor

Account Executive

Thanks! If the client pays but the company doesn’t what should I do then? Or is something like this more rare?

hh456

Celebrated Contributor

sales

if the company doesn't pay you, i think you have a strong suit and you'll be a millionaire by the end of the year. why wouldn't they pay you?

Tdd

Valued Contributor

Account Executive

That’s what I’m thinking too. I’m not sure it’s just that they gave previous salesman issues with comp although we are only responsible for the signature.

hh456

Celebrated Contributor

sales

well, document everything, copy of your contract, etc. and work through payment schedule with your bosses

MonthEndSpecial

Valued Contributor

Enterprise Account Executive

I have been down this road. You are only responsible for signature, but your pay depends on their payment.

Help line up the payment before you close the deal. Ask them how they are going to pay. Who is involved in the payment process? What did they usually see when they purchase like this in terms of payment?

You have a vested interest in getting paid. You are a closer. Close the payment too.

Tdd

Valued Contributor

Account Executive

100% will definitely make sure they were on the same page. Thanks. Wasn’t sure if it’s just my place like this.

payton_pritchard

Executive

RSM

Already been mentioned, but chances are the terms of how your paid are in the fine print of your comp plan -- go reread that before taking any next steps

poweredbycaffeine

WR Lieutenant

☕️

30-45 day post-period-closing (month, quarter, year, etc) is typical to ensure net-30 or net-45 day bills are paid. Worst case nightmare is they pay you a huge commish check, you spend it, and then they have to claw it back due to churn or non-payment. What happens then? You forfeit all commission earnings until the amount owed is paid in full.

Wellss

Tycoon

Channel sales

First, congrats on the deal! That's huge, literally!

The details of your pay out should be listed in your comp plan. In one of my previous comp plans, there were deciding factors on how I got paid out. For example, if the client paid their whole TCV upfront, I got all my commission. If they paid on an annual basis, I only got half at first & had to wait until the next year to get the other half.

Diablo

Politicker

Sr. AE

I don't have any different experience that what Grizzle mentioned. Your org just can't pay hefty amount on the realized payment unless that comes physically to their bank account. In the CPG I use to work with, I use to get paid incentives after 2-3 months of closing the deal (due to longer payment terms) :)

Sunbunny31

Politicker

Sr Sales Executive 🐰

Commission payout is defined in my comp plan, so I'd check mine if I were you, and find out what the payout rules are. Is it tied to customer signature, invoice, pay? After signature, what date does it get paid? Next paycheck, the first of the month following, the next quarter?

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Tdd

8 figure deal help with my employer.

13 comments

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