|
May 2020
News from
Wheeler Business Consulting:
Adjustments
: Every business has been forced to make major adjustments to their business models during the current pandemic. For over a decade, I have traveled extensively visiting banks, independents, and captive leasing and finance operations. I am usually on the road several times a month.
Wheeler Business Consulting's travel has been temporarily grounded
.
Like all businesses, I have adjusted to the new business environment. Prior to March 2020, I typically spent less than a day a week facilitating remote executive coaching sessions. Every day in April included several remote sessions; some days consisted of eight to ten hours of remote training and consultation. It appears that we are all getting better at video conferencing.
I have described my remote services as my
"Take-out Menu"
for those who were used to my full service sit-down offerings in the past. Below are just a few of the items that my clients have ordered over the past six weeks:
- A one-on-one meeting with a group of eleven originators to discuss their personal adjustments to the new environment. These sessions included suggestions of how each originator can keep in touch with their current database along with items that need to be accomplished now to prepare for the recovery and new opportunities.
- Several meetings with a sales manager to determine the next steps that he needed to take with his sales team. These sessions included a full evaluation of each salesperson and tough decisions to correct weak links within his team.
- Executive team sessions to adjust a company's product offerings. The changes were partly to react to changing needs in the market and additionally to provide products that will attract stronger clients in the recovery stage.
-
Several sessions have included
portfolio managers and collection professionals.
These sessions addressed immediate deferments. But, more importantly, what the strategy will be moving forward, how equipment valuations will be changing, and what policies should be refreshed to protect the company's assets.
-
Accountability meetings: Several clients are using my services to monitor the activities of their remote sales professionals. Daily reports are submitted and reviewed. In weekly meetings I am making suggestions and encouraging new activities. Sales teams have also been grounded and the new environment has been challenging for many sales professionals.
I personally look forward to visiting with my clients in the future. But, for the time being I am expanding my "Take-out Menu" and continuing to offer my services remotely. There are new opportunities developing in the industry to assist with funding and liquidity challenges. (Please refer to the list in the side column.) Wheeler Business Consulting is fully engaged in the market and is optimistic for those industry participants that are making the necessary adjustments and preparing to drive the recovery.
Wheeler Business Consulting works with management teams to further develop their talent, to identify and strengthen weak links within their organization, and to improve overall efficiencies.
Wheeler Business Consulting works with banks, independents, captives, origination companies, and investors in the equipment leasing and finance arena. We provide training, strategic planning, and acquisition services. Scott Wheeler is available to discuss your long-term strategy, to assist your staff to maximize outcomes, and to better position your organization in the market.
Comments and suggestions are always welcome.
Scott A. Wheeler CLFP
Wheeler Business Consulting LLC
Phone: 410-877-0428
Email: scott@wheelerbusinessconsulting.com
|
