Originators in
the commercial equipment leasing and finance industry often state that they are attracted to the industry because of the unlimited opportunities. Every business needs equipment and there are unlimited companies to call upon. However, several months or even years into the process, the same individual expresses frustration, "There are so many opportunities that I don't know where to call to get my next deal - there are limitless possibilities and I can't get a handle on where to spend my time and energy."
The oxymoron is that the same reason professionals get into the industry is often the reason for failure or even for leaving the industry.
Solution:
The simple solution is for an originator to define her targeted market - to narrow the possibilities to those companies which perfectly align with her funding capabilities.
In the words of a veteran colleague,
"Anyone can find a deal. The best originators find opportunities which can be won and funded. The best originators know their targeted market and more importantly, their targeted market knows them."
As an originator in the commercial equipment leasing and finance industry:
- Can you define your targeted market?
- How many potential clients are in your targeted market?
- How many of those potential clients have you contacted?
- What is needed to be a tier 1, tier 2, or tier 3 opportunity within this targeted market?
- If Scott Wheeler called into this targeted market and spoke to decision makers about you - would they know who you are and what services your company provides?
- What activities are you currently doing to obtain better penetration into this targeted market?
- Why does this targeted market excite you? Do you have a personal passion to serve this targeted market?
- What personal value do you specifically offer to this targeted market?
Selling in the commercial equipment leasing and finance industry is not difficult if the originator defines, solicits, and engages with a targeted market.
