If I were to ask, could you define your position in the market concisely and accurately? Top originators in the equipment leasing and finance industry understand the market in which they participate. More importantly, they can define specifically how they and their company fits within their defined market. Top originators know their own strengths and weaknesses within their defined market. Top originators can articulate their "sweet spot" within their defined market and they aggressively sell their capabilities to deliver superior services and products.
Top originators make it their mission to concisely explain to every vendor and end-user their exact capabilities and strengths. Every call, email, and meeting is focused on exactly what they can deliver. The message does not change from day to day or call to call. Their objective is to find partners and customers that can best use their services. Top originators are focused on a specific niche within the market and they spend 110% of their time and effort attracting vendors and end-users which align with their capabilities and strengths.
Several years ago, an originator described his focus as a medical finance professional providing funding for various medical equipment. Once we dissected his actual portfolio it was obvious that most of his funded transactions were for veterinarians purchasing two specific types of surgical equipment. Today this originator describes himself as a specialist in surgical equipment for veterinarians providing funding for acquisitions between $50.0K and $250.0K. This originator is a player in his niche. He is well known by equipment vendors catering to his niche. He knows the difference between various manufacturers and is considered an equipment expert. He knows what it takes to be or become a successful veterinarian. He knows his competitors and exactly how he fits within his market. His annual volume has significantly increased year over year for several years and his margins have increased because of the value he brings to his vendors and end-users. This originator can easily articulate his position in the market to any potential vendor or end-user. His marketing efforts are efficient and powerful. He is maximizing his efforts and income with every new relationship and transaction.
Survive - Thrive - Lead
This "Sales Tip" is provided by Wheeler Business Consulting.
