Salesmanship

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A few years ago, my Dad sold a house in Ooty.

He sold it at least 40% below market price.  Primarily because the property had some issue (and was in a lawsuit).  Also because my Dad was not a salesman!

He was a retired Headmaster. Someone who had held the highest position in a school. How could he be a salesman? His self esteem forbade him from stooping to a salesman’s level.

He tried talking to a few guys, got a few quotes, got pushed hard by low ballers and bailed out cheaper. In fact, he got frustrated by delay and said ok to a 20% cut at the last minute on the initial proposed price.

Now, they say, “like father, like son”! I hate it for this particular thing! I am no salesman too!

I bought a piece of land in 2004 with all my savings (and with borrowed funds from my unsuspecting Dad and Aunt), when I was overconfident as if I were the next Warren Buffett, when in reality I was being plainly foolish. Found myself in a shit hole as it was under the green belt. Now, once I realized green belt properties were problematic, I bailed out. At a good 15-20% discount to the market rate. The property developer who sold it to me bought it back.. and I realized he then sold it to someone else at a higher price immediately. I didn’t lose money, but I missed out on a decent % of profit.

Incredibly, I did the same mistake again! Another small property I had bought along with the first was indeed in green belt too. To make things worse for me, there was a dispute on the entire land between 2 brothers (who had then sold it to my developer). I was scared.

It was bang on the road and had appreciated a bit. I happily bailed out making 3x in 3 years (on a small base capital). But… again at a good discount to market rate. And after a year of tension of having been so foolish!

Damn!  The story didn’t end there!

A while later, I got an offer from a company. While negotiating the salary, I made this incredible statement!

“Am bothered more about the quality of work. Salary is secondary.”

What the f*@# is wrong with you Mr. Goody two shoes?!

I even quoted much lower than what I would be happy with. Don’t ask me why! It’s a family trait! They immediately said, “okay, we will give you 20% more than what you want”, leaving me wondering if I should have asked for much more.

Salary was NOT secondary. It was primary! No bullshitting about it.

I had this ‘am an intellectual guy’ thought in my crazy head and felt discussing money matters uncomfortable. Am an intellectual guy, after all!

Wait!! There’s more to it.

A few months ago, when I was working on the Tapprs pricing model, I was very confused as to what to charge customers! And every time someone called, I would say something like “it is available. But it will cost you Rs 3750. Is that okay with you?” in an apologetic tone. Worse, in my mind, I would have something like 4500 as the right price. Not only did I short sell myself, but also was apologetic in quoting as though I was robbing someone’s else money.

Such salesmanship will take you nowhere!

I am changing slowly these days. Though not quite as fast as I would love to.

I am not going to discuss what it takes to be a good salesman, because am not good at it yet. However, do give it a thought.

How many times do you short sell yourself?

• while selling stuff?
• while negotiating your salary?
• while describing yourself in front of a crowd?
• while asking for something that you NEED?

Why?

What could you do to avoid such things from happening again?

How could you improve your sales skills?

Do you agree that everyone needs to be a salesman? And there is no such thing as stooping down to a salesman’s level?

Am working on my sales skills. Perhaps a year later, I may blog about my experiences and foolishness.

CAUTION: I am talking of the case where there is genuine value in something and you are quoting less. If you quote a Tiger’s price for a donkey, that is a different story and is outside my discussion .

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