Top producers in the commercial equipment leasing and finance industry are building their post Covid-19 network.
They are determining their position within the market and building stronger networks and databases. There will be long-term winners and losers in every industry as top producing companies and originators adjust and quickly connect the dots for future business.
Every new prospect and customer lead to multiple new opportunities for the best originators. New vendor relationships refer new end-users; and every end-user knows of other vendors that are potentially new relationships to be tapped for additional business. One of the benefits of the commercial equipment leasing and finance industry is the tremendous opportunity that exists to take new paths for business development. The vast opportunities and unlimited paths to success can be daunting. There are so many options that originators often get overwhelmed, distracted, and confused. They become a jack of all trades, master of none. Their databases become disjointed, disconnected, and unworkable. Top producers connect the dots; their vendors and end-users are connected by similar attributes (industry, equipment type, geographic area, credit quality, etc.) Top producers are focused and deliberate when prospecting and driving new business opportunities. They are committed to growing a well-connected database.
Naysayers often claim that too much focus or niche concentration inhibits the development of new channels of business. The opposite actually occurs. An originator that is correctly focused on one (or just a few niches) has more opportunity to enter new channels of business with purpose. Top producers do not push into unknown areas of business aimlessly; they are pulled into new channels of business by their strong relationships with both vendors and end-users. They enter a new channel because it is interrelated with their past expertise. They enter a new channel because they are connecting the dots of past relationships with new potential. They enter a new channel more successfully because they have a well thought-out plan.
Survive - Thrive - Lead
This "Sales Tip" is provided by Wheeler Business Consulting.
