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LKAPP Services is passionate about educating our clients, Small Business owners and anyone considering starting a business. We research, study and investigate two main areas of influence, namely our Government and successful Business Owners in order to equip our attendees with the knowledge and information needed to become successful and reach their dreams.

Seminars to look forward to:
Financial Intelligence
Sista Sense
 


NEWS

Is the buyer a Crocodile, Lion, Ferret or a Rat?

Obviously sellers prefer to sell at the highest possible price and buyers would like to buy at the lowest possible price. Unfortunately both parties can't have it their way. The question is - what kind of "animal" are you dealing with when you are selling your business?

I was once told that when you buy something, you automatically become the seller and that if you cannot sell what you bought today for the same or a better price the following day, you have most probably paid too much.

I have build up a profile in my mind which I call the typical "buyer animal". Have you ever come across any of these buyers or do you perhaps recognize any of their characteristics?

The Crocodile - submerged below the water, striking only when the prey is ready for the taking. Beware of the Crocodile if you are a seller, as the crocodile is the shrewdest of all the buyers; he will only buy when the seller is in a weak position to negotiate.

Once the Crocodile gets hold of it's pray it will drag it under, with no way out.

The Lion - king of the jungle, has had plenty to eat and does not really need more. But from time to time he does become hungry and he will be on the look out for prey. If the chase becomes too hard he will stop, but if the prey seems vulnerable enough, he will pounce. You can do a deal with a Lion, but when the Lion is not hungry, sellers should rather stay away.

The Ferrett - believes in his own ability to work hard and build. The Ferret is a seller's friend; simply because the Ferret is willing to pay for the potential he will bring to the business. A typical Ferret will tell you how poor the previous owner had managed the business. Some Ferrets are successful; because they are committed and hardworking, but they can never make up for the fact that they are poor negotiators who most probably had paid too much for the business, simply because they were just too keen to buy. Sell to a Ferret and get your price! believes in his own ability to work hard and build. The Ferret is a seller's friend; simply because the Ferret is willing to pay for the potential he will bring to the business. A typical Ferret will tell you how poor the previous owner had managed the business. Some Ferrets are successful; because they are committed and hardworking, but they can never make up for the fact that they are poor negotiators who most probably had paid too much for the business, simply because they were just too keen to buy. Sell to a Ferret and get your price!

The Rat - is truly a seller's dream. The Rat will go for the cheese, even if it's a trap and it means that by going for the cheese, the chances are good that the Rat may loose his live. The Rat will pay nearly any price and enter any business just for the sake of owning a business. Rats think they know it all and will almost certainly self destruct- often with borrowed money. Worst off than the Rat, is normally the person who had lent the Rat the money to buy the business.

You may have come across some of these animals, or perhaps you recognize yourself among of them.

Do you have any thoughts on the above, or maybe you have come across some more species. Share those thoughts with me at, gerhards@grofin.com
 

You can contact us on:  
Tel: 032 946 1653  
Fax: 032 946 1635  
Unit 9, Gregory Park 
Garlick Road, 
Ballito Business Park 
Ballito, 4420 

Staff Compliment
Louise Botha
Owner / Accountant

Illana Booysen
Payroll Administrator

Bruce McNair
Administration

Brenda Groenewald
Senior Bookkeeper
Existing Clients

Ronitha Narsee
Receptionist
Assistant Bookkeeper

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