When it comes to buying and selling we will always find ourselves on one side or the other…that is unless the thing you are trying to sell is YOURSELF.
When we are on the buyer’s side of a transaction, we are trying our best to make sure we get equal or above VALUE for whatever it is that we are paying for. On the seller’s side of a transaction, we are trying to make sure we can get the highest possible PRICE for whatever it is that we are selling. This might sound like simple stuff that most people know, but you’ll be amazed at what happens in the heat of the moment.
Before I proceed, allow me a second to clarify what you are about to read here. These are not TRICKS to help you outsmart someone so you can sell them some crap. These are TIPS that will help you in business and in life. There’s nothing wrong with knowing how to be a great seller if you use your skills for good.
Let’s use a car dealership for example because it fits so well here. If you’ve ever gone to a dealership to purchase a new car you most likely are already prepared for all the sales tactics that are going to be used to make you spend more money.
The “I can’t lower the price any more than that”. The “Let me ask my manager if we can do something for you.” The “you look good in this car”. There are so many more, but you get the drift.
Now let’s flip to The Seller. On the other hand, the salesman has the advantage of knowing how much his dealership paid for the car thereby knowing how low they can sell it to still make a profit. They also have the bigger advantage of knowing that you walked into the dealership because you want to buy. It’s just up to them to make it happen.
If you’ve ever been in this moment you might recall things going one way in your head, but turning out another way when it actually went down. This goes for both sides.
The Buyer with all that knowledge about the average slick talking Car Salesman and The Seller having all these advantages at his/her disposal can still end up with The Buyer walking out without buying or The Seller sitting at his/her desk without selling. In every single case, the buyer doesn’t buy it is the seller’s fault.
Even if The Buyer has to leave due to an emergency, it’s The Seller’s fault. He/she should have CLOSED faster. If he/she UNDERSTOOD THE BUYER. This would have ended in a sale. Or worst-case scenario the buyer comes back looking for you and only YOU.
The Buyer Is A Seller
No matter what your profession in the world, even if you don’t have one you’re a salesperson. Every day you are tasked with selling yourself or your ideas to someone else. Your discussion about politics with your friends revolves around you selling your point over theirs.
Your attempt to prevent your boss from writing you up again due to continued tardiness hangs on your ability to convince your boss that having you is worth a few late punches from time to time. The crying child is trying to sell his/her mom on the idea that they should definitely get that sugary cereal they just threw into the grocery cart. I think you get the point.
You see The Buyer only has to play defense. All they have to do is sell you on the idea they are not willing to pay more than they should have to for something. On the other hand, The Seller has to play offense and defense at the same time.
This is sort of like selling and buying at the same time. But, I said that was impossible right? Wrong, I said…unless you are selling yourself.
Understanding the Buyer
The only and I mean the only way you are going to be able to close the sale is by UNDERSTANDING THE BUYER. In order to understand the buyer, you must know as much about them as possible. Here’s the greatest part about that; THEY WANT TO GIVE YOU THE INFORMATION YOU NEED. Whether they admit it to you or not they want you to know what type of person they are so that you can provide them with the best match for you. Here’s an example.
If I see you walk into my store wearing a red shirt and matching designer red shoes, I ‘m pretty sure you like the color red. How do I know you’re not just in a red mood today or you didn’t just lose a bet? Well, I don’t. What I do know is that doesn’t fit the profile or logic.
First of all, if you are in a “red mood” enough that you own red shoes, then YOU LIKE THE COLOR RED. Also, who loses a bet then goes out and spends money on DESIGNER red shoes? To top it all off, red is a very noticeable color. It stands out.
I can understand wearing a red shirt to switch things up a bit, but the matching shoes lead me in a certain direction. With all this said I’ve already learned two things about you;
- You want to buy a vehicle
- You like the color red
That’s good enough to start a conversation, but I’ll need more information to get you to the close. So, how do I get you to volunteer information to me so I can UNDERSTAND YOU? To keep things nice and simple I’ll go with what I think are the TOP 3; TRUST, ATTITUDE, and VALUE.
Think of yourself as a buyer. If I don’t trust you I am not going to give you my money. If I don’t like your attitude I’m not going to like you, trust you or give you my money. If I am not walking away from this transaction believing that I have received more value than what I paid I AM NOT GIVING YOU MY MONEY.
How do you accomplish the BIG 3? Well, that’s going to take more than this blog post to explain, but I’ll give you one golden nugget; SEEING IS BELIEVING. Purchase Understanding The Buyer from the greatest salesman alive, Grant Cardone. He’s used these methods to make millions and help many others do the same. Myself included.
Now that you know that you must understand your buyer to succeed, what will you do next? Leave a reply in the comment box below.