The one constant in the commercial equipment finance and leasing industry is change. Too many originators are basking in the robust activity that the industry is currently experiencing. They believe that we are experiencing a new normal which will prevail well into the future. Top originators are always preparing for the next opportunity, anticipating change, and positioning themselves to capture a greater market share. Top originators are prepared if:
A top competitor exits their niche. They can react in real time and immediately capture new relationships.
The current supply chain challenges increase or decrease in the coming months. They are well connected with the right vendors and end-users to maximize their position in the market, no matter the challenge.
Inflation kicks into high gear in 2022 further increasing equipment costs and placing additional pressures on increasing borrowing costs (yields). Top originators know that well-positioned originators do well in all markets by providing value-added services.
They need to pivot their marketing efforts because of changing internal capabilities or external funding resources. Top originators understand that pricing is at historical low levels and credit criteria are relatively wide open, compared to historical standards.
Top originators are exploiting the current market and maximizing their productivity. However, the savviest originators are preparing for what comes next. They are exploring new channels, conducting research to enhance the quality of originated assets, and positioning themselves for long-term success. Change is good if you are well prepared.
Survive - Thrive - Lead
This "Sales Tip" is provided by Wheeler Business Consulting.
