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(part 3 of 5)
“They” say “cash is king”- presumably because when you’ve got cash you have superior negotiating power in your money-making activity.
I used to buy and sell machinery – and I always bought low because I wouldn’t even look at the machine unless I knew I could sell it for more than I paid and had cash in my pocket to buy it on the spot.
One of my weaknesses is I’m not a very aggressive price negotiator – I want the other guy to feel good about the deal too. But if a seller ran an ad and said he wanted $600 for a machine, I would call up a seller and say “I’ve got $500 in cash and I’ll come and pick up that machine today if you’ll sell it to me for that,” – I never even went to look at a machine unless I knew I could take it home right then. I was “Johnny on the spot with cash”.
When making deals, you do need to strike when the iron is hot. In buying, you’ll get your best advantage by finding a motivated seller who will make a deal on the spot. If you want the advantage in selling, to get top-dollar for what you’ve got, you need to be more patient or better at salesmanship.
Buying Is Easy, Selling Is A Bitch
Buying is easy, selling is hard. If you want to get money, you generally have to sell something – yet because selling is a hard thing to do for most people you’ll want to find some easier ways to do it. Truth is, most people love to buy stuff, but they despise obvious salesmanship (most people are ignorant and consider sales sleazy and manipulative). Thus it’s easiest for you to sell, when you conceal the art of salesmanship and focus on making it easy for other people to buy.
The post author, Loren Woirhaye writes sales copy and creates marketing systems for business clients who want to slash customer acquisition costs and position their businesses For 20%-30% sales growth in the next 12-18 months. He writes regularly about marketing and life at his Entrepreneur Blog.