Business success?

Learn to buy as well as sell

Business development is the key to any business. Unless you are creating sufficient quality opportunities to sell and converting them into orders you are unlikely to have a successful business.

However, learning to buy efficiently as well as sell is also important. Increased competition and the need to discount in many product led businesses, especially on the web, means every pound you can save can be spent on promoting the business or increasing profit.

I can honestly say that in my last big business virtually the only items we paid the going rate for were our taxes. The rest we negotiated. It really is amazing how easily people are willing to reduce their prices if only they are asked.

Here is a simple process which will save you a fortune. Like all processes, if you believe it will work it really will work.

Step one - remember something which has really shocked you. It might have been an item you read in the papers or saw on TV or something someone told you. It really outraged, surprised and horrified you. Have this in your mind as you proceed to the next step

Step two – if you can avoid it, do not actually ask the price – let the seller tell you. OK it might take a while but they will eventually tell you. Asking too early shows you are too keen and can reduce your buying leverage.

Step three (and this is the important one) - When told the price you say (conjuring as much surprise and shock as can muster – see step one) HOW MUCH? And shut up. It is amazing just by just saying these two words you will often have your seller saying ‘well we could possibly.....’. and the price slide has begun.

Step four - there actually might not be the need for a step four but if your first outraged reaction did not do the trick you use the following five ‘WE COULDN’T POSSIBLY AFFORD THAT’ and shut up again.

You will be amazed at the impact of this simple process on what you eventually pay for anything, providing you do it every time and say it as you mean it.

Another response which works is to inform the seller that you will require a discount. Notice that I do not say ask for one but tell them you will want one as in ‘of course we will require a discount on that’ Again it is not only the words but the way you tell ‘em as comedian Frank Carson used to say.

So next time you are buying anything just use the magic words and see if you can conjure up some good price reductions. This works with products or services form virtually any source you just have to believe it to achieve it.

Chris Kaday
Business coach and business mentor
www.chriskaday.co.uk

About the author
Chris Kaday is a business mentor and advisor to a variety of companies and individuals. He also holds a number of non executive directorships and chairman roles. Chris Kaday regularly addresses conferences, seminars and company events on a wide range of business topics. He is also a teacher of meditation and stillness and writes and broadcasts in the media as a commentator on topical business and life issues.

About the Author:
Chris Kaday is a business mentor and advisor to a variety of companies and individuals. He also holds a number of non executive directorships and chairman roles. Chris Kaday regularly addresses conferences, seminars and company events on a wide range of business topics. He is also a teacher of meditation and stillness and writes and broadcasts in the media as a commentator on topical business and life issues.