Several years ago, I presented the benefits offered by the commercial equipment leasing and finance industry to a group of business owners. I explained the flexibility of different structures and how the products complement traditional bank relationships and often provide additional cash resources for both small and large businesses. A gentleman in the room commented, "The commercial equipment leasing and finance industry exists because it provides cash flow savings. The industry exists because most owners know that, 'Cash is King.' Any tool which helps to conserve cash and bank lines of credit is a powerful tool for every business owner."
BINGO! Business owners know the power of our products and originators need to continuously remind their clients of the cash flow benefits of using their product to conserve cash.
Cash is always King, but especially in uncertain times. Businesses need a reserve of cash for unexpected challenges and opportunities. Cash allows companies to move forward with confidence. My grandfather ran a small city grocery store. He measured success by how much cash was left over in the "cigar box" at the end of the day, week, and month. He measured success by how much cash was able to be withdrawn from the business and transferred to his personal savings, without disturbing the cash flow of his business. Every business works under the same simple principles that my grandfather used over 70 years ago. The commercial equipment leasing and finance industry allows business owners to acquire needed equipment to grow their business. The industry allows the "cigar box" from being depleted too quickly and aligns the cost of needed equipment with future revenues. Every originator in the commercial equipment finance industry has this powerful tool to offer his clients.
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Wheeler Business Consulting provides a weekly sales tip to thousands of commercial equipment leasing and finance originators. We encourage our readers to participate in our annual survey related to production and compensation, Individual responses are 100% confidential. The overall results will be available through the website and newsletter.
