In this highly competitive marketplace, equipment sales teams can easily become frustrated with pressure on price. Sales gurus will tell you, and correctly so, that we should all be focused on selling value over price—that a “total solution” approach often allows you to win more business and more profitable business. And while they are correct, some people are just about…
Let me tell you a true story (with names changed to protect the innocent). Bob is in the market for about $125,000 in new commercial equipment. Part replacement for older equipment and part addition for some new business on the way, this package of equipment is pretty important to the company. Bob loves the industry leading brand. He takes of…
For most business owners, equipment acquisition happens in the break/fix moment. Recent research points to more than 60% of all small business owners replacing equipment only when they absolutely have to. But with the price of this equipment being so significant and the enormity of downtime expenses, is this the right approach? The downside of waiting until you have to….
In a highly competitive environment, how can equipment manufacturers, vendors and dealers ensure they are consistently delivering a superior service experience? Often customers are happy with the “front-end” part of the sale, but it’s the “back-end” processes of documentation, payment and financing that become challenging. In a recent survey, 61% of recent purchasers of commercial equipment site the “deal closing”…
Payment terms can be a struggle. We all have to offer them, but let’s face it, it’s actually an extension of credit to your customers. An extension of time where your money is at risk and cash flow is depleted. In the equipment sales business, payment terms of net 15 or 30 can easily turn into 45 days and beyond…
Most business owners have applied for a loan and faced rejection or an insufficient solution. Often they don’t know why they are being successful or unsuccessful in the endeavor to borrow money. While many make the process feel like rocket science, the fundamentals of commercial credit are actually quite simple. Lenders call it the five “C’s” of credit. Character Admittedly,…
What’s the interest rate? It’s like buying a new lawn mower and asking who manufactured the spark plug. Don’t get us wrong, the mower doesn’t run without it so the importance is obvious, but are you really concerned with it? When acquiring new commercial equipment, interest rate is important…just not as important as many business owners make it. Revenue growth…
Most business owners find mystery in the process of acquiring financing for your business. One year everything goes smooth as silk. The next year the process feels cumbersome and difficult even though your good credit is still good. While the reasons for these wild swings in the experience of borrowing money are many, there is one that surprises most business…
Manufacturers, dealers and distributors find themselves in a highly competitive market. With margins are under pressure and differentiation a necessity, finding real opportunities for growth are challenging. Most opportunities for growth require injections of capital or significant training to evolve the way you do business. But there is one way grow way without having to learn anything new or tap…
For years, the software business has charged big bucks. As technology continued to speed up, they saw sales drop as other, cheaper solutions were born. Take MS Office. $499 per seat for Office 2010. Sales were…well…not great. But in 2013 they introduce a program where you can pay $8 per month per seat and always have the new version of…
![](https://slsfinancial.com/wp-content/uploads/2022/06/S-and-P-White.png")
© 2024 SLS Financial Services. All Rights Reserved.
