George Grieve
George Grieve

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« Hats Off to Insurance | Main | Jeanne Eddy: Insurance Executive »

July 17, 2007

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Bill Garvey

I have been on the flip side of Peter's story. Beyond contract negotiations and deep into the development project, the “C” privately told us (if he told us in front of vendors I'd rather not work for him) "pay more, pay more, our future rests on this gig." We did...and what did we get? You already know. Sometimes the C should listen to "his guys."

Peter Symons

Almost 20 years ago, as the VP of delivery for a vendor, I was involved in the sale of a combined P&C and Life policy admin product to one of Canada’s banks, we (the VP of Sales and I) were negotiating the final license fee contract with the two COO’s (one P&C and Life), we were less than $100,000 off on a multi million $ sale and not going anywhere fast, no one would give an inch for various reasons.

The CEO walked in and asked “Everything okay”!!! After some shuffling of feet we all said, in various ways, no, we’re stuck. He asked for the problem, which was explained to him by his guys with, I might add, somewhat of a bias to their side. His response was immediate and astounding, he said: “pay them what they want, our whole future rests with these guys and we don’t want to piss them off for less than $100,000 in a $25,000,000 project” and left the room.

In retrospect it was brilliant, it didn’t cost him much and we owed him success (which we delivered, in fact the P&C system is still being used to this day, which may be another issue!). He understood that vendors are not foes from whom you need to squeeze every nickel, he understood we had a business to run and had demands and budgets and targets just like he did, he treated us as equals and got payback many times over.

George, on the off chance I win the Ipod, please donate it to a local kids group

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