What was left out of this discussion is the fact that a long decision cycle leaves room for management changes and contract review and even cancellation. I have had three deals with three different very large corporations go this route. We were assured that everything was done and just had to sign the contract as soon as we received it. We do not have those deals.

We do have a deal with another large corporation, a huge university system, and a well-known education service company as well as a successful pipeline into a huge school district through a sales rep organization. These four deals alone will more than triple last year’s revenue. More of the same may put us into seven-digit revenue territory for the first time in 2014. Our Q4 revenues are at that level when annualized.

I left out the enormous amount of time, effort, and money expended on those lost deals. There’s also a potential loss of focus as you adjust everything you do for those million-dollar deals. If you win, you have to change the direction of your company. If you lose, you’ve lost important time in moving in the direction you’d prefer to go.

All of the above should provide ample warning. There is more than one deal out there for you to find. The first one may look good because you haven’t seen anything that big yet. Stick to your plans and seek out deals that advance your corporate goals and not merely add to the bottom line at the cost of your future. Realize that you’re dealing with people who may not control the destiny of your deal by the time it should be approved. Expect months of delays followed by the expectation that you’ll respond instantly. Don’t do that. Evaluate the final contract carefully before signing and negotiate as necessary.

I’ve been through lots of these deals now and used to make them in the old days when I was inside of big corporations. In my recent experience, my inside agents are always disappearing or being overridden by their bosses, often their new bosses.

Make sure that you have a good fit and a strong relationship with your primary contact. Make sure that this contact is supplying you with information about the progress of your deal. Check on the usual payment terms. Big corporations have people in accounts payable who pay no attention to payment terms in your contract. Your contact must bother them incessantly if your terms are not the usual ones. I’ve been there too. You may think that you have provided every single piece of paper necessary and find out that accounts payable has found an unchecked box somewhere. The payment cycle restarts. It can be six months before you’re paid, or you can get paid on time if you keep after the problems and keep your good relationships strong.

No sale is final until the check is cashed.