The market is a moving target in which timing is everything. Too early or too late is fatal, says Mario Pretorius. The timing of your decisions influences the price – so get in touch with the rhythms of your industry, he advises in this weekly Tip. GK
Timing is everything. Timing the Buy is exponentially easier than timing the Sell.
The market is a moving target; your clients are subject to their biorhythms, bonus cycles, competition and internal politics. Timing a buy is a delicate and exquisite science, and the amateur is most assuredly upstaged by the professional. The deciding factors on the purchase are the options, the competition and what the competition knows about your options.
Buying is easier than selling as you have the power of cash. The other party can do infinite things with money; your options on the item or company purchased are limited. Just so the power moves to the buyer when you are the owner of the limited use thing on offer. Your effort at the sale is the dance between buyers, more victim than hunter.
This is where time and timing can be your strength as a buyer. You may cajole, entice, bamboozle and threaten the seller while keeping the other bidders at bay. You full well know the seller is doing his best to step away from an emotional decision into a rational one on price and terms while he knows that you need to be wooed on the advantages, suitability and necessity of swopping cash for goods.
Thus the timing of your decisions influences the price as you may promise ease of transaction before pricing, and demand increased assurances before commitment. As a seller you are at a great disadvantage in dealing with a well-versed buyer and doubly so if he can determine the time and timing limits that constrain you.
TIMING is everything. Too early or too late is fatal. Get in touch with the rhythms of your industry The hunt for viable options is paramount before the buy or sell process starts. He with the best options available can make the best decision. Never sell or buy yourself short when hunting for the bargain or putting up your item for sale.
This tip is an extract from the manuscript of “The Unconventional CEO: Common sense outside of conventional Management thinking” (by Mario Pretorius).
