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A Better Understanding of Done Deals

by Kate Chrisman

As WBENC approaches its 10th Anniversary, it offers a time of reflection for the WBENC national and Affiliate regional staff, our National Corporate members and our WBEs. In 1997, our organization was so small, so grassroots and at times, the staff and Board Members wondered how it would grow. Now, standing at the crossroads of our past decade and the next decade, we know why are still in existence. WBENC is going strong for one reason and one reason only – it works. But how do we chart our progress? How do we know that “it works?”

A Done Deal™ is any business deal done between any WBENC party (Corporate to WBE or WBE to WBE). Done Deals are vital for WBENC to track how we are achieving our Mission - to increase procurement opportunities between WBEs and Corporate Members.

As a WBE, you can gain many benefits by submitting your Done Deal™. You can never have enough publicity generated about your business. With Done Deal’s™ detailed descriptions of the business you’re doing, it helps people learn about your company’s niche in the market. Also, your Done Deals™ might garner recognition. By submitting Done Deals you will be eligible to win a variety of awards presented throughout the year.

It takes less than 3 minutes to complete a Done Deal™ form . . .just contact your regional WBENC affiliate. However, it is a two-way street. You are reporting the Done Deal™ and the party in which you partnered will be asked to confirm it by submitting information, as well. But what if you’ve asked the company to turn it in, but they don’t ever seem to get around to it. What should you do? Ask them if they want you to report it for them! They’ll still get the opportunity to provide details and approve the final wording.

Sometimes, however, the company that you are doing business with does not want the deal published. Most Done Deals™ are reported without both parties being aware of it. However, once it is reported, BOTH parties are contacted by the regional affiliate to approve the wording. We will NEVER publish a Done Deal™ unless both parties agree.

But don’t get discouraged if your Done Deal™ is not a huge dollar amount. Small, medium or large - no Done Deal™ should go unreported. WBENC is about bringing opportunities to the table – any size opportunity. Even if your deal is under the $250 minimum, you can turn it in and the regional affiliate will hold it until you have another deal with that company that can be added to the previous deal. You never know when the reporting of one Done Deal™ will generate another, and another, and another!

Kate Chrisman is Director of Marketing and Communications for WBENC.  If you have any questions regarding this article, you can e-mail her at kchrisman@wbenc.org.  You can also visit the WBENC website for more information about WBENC programs and events at www.wbenc.org.