Buying and Selling: Do you have a split personality?

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Duration: 12:06 • Size: 8.3 MB

Traditional thinking held that buyers and sellers were on opposites of the table, and "getting a good deal" meant having a winner and a loser. This leads to a split personality because we are all buyers and sellers.

Discussion Points

Buyers and sellers approach the transaction table from different, some would say opposite, points of view. I think that is a tad "last century." Let me explain why. These questions will orient the discussion for us.

• Are you looking for short term benefits or long term gain?
• Do you value "values" in a business relationship?
• As a buyer, how important is your vendor's business to your ongoing success?
• As a seller, how important is your buyer's satisfaction to your ongoing success?

Greed can be as useful as altruism. Engage each with attention and consciousness to reap the most benefits.

What's the Bottom Line for Your Business?

1. As a buyer and a seller, be aware of your preferences on the spectrum from altruism to greed. And beware of your default reaction when you are not operating in your comfort zone. We tend to go to a more extreme place, which can sabotage a transaction's success.

1. Do you unconsciously act like Jekyl and Hyde depending on if you are the buyer or seller? If so, you may be inadvertently creating more short term gain than long term relationships. I think that when the buyer and seller can be more neutral in the process, there is more room for a win-win negotiation.

1. Know your buying and selling preferences. Stand by them. Yet also weigh in the consequences of them, as the consequences are what stay with you after the deal is done.

Links

Bare Feet Shop
Wayne Dyer
Where Did the Money Go?

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