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How to turn existing clients into new business with the ‘Stand-By Agreement’

Also known as a Wait-and-See agreement, it is simply a buy-sell contractual agreement between two unrelated parties that kicks in when a specific event occurs.

By Barry Seigerman | Updated on April 21, 2016
The “Stand-By Agreement" is a buy-sell contractual agreement between two unrelated parties that kicks in when a specific event occurs. (Photo: iStock)

Ever feel as though you’ve hit a wall and can’t come up with a fresh new idea to generate more sales and revenue? Who hasn’t?

Occasionally, finding a creative sales idea is not to think about what’s new at all, but rather something old: Dust it off and re-launch it as a new selling tool your competitors haven’t even thought about.

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Barry Seigerman

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