As a business owner of an equipment intensive company, Jim is always on the lookout for new equipment. He has relationships with every dealer in the area and when the time comes to purchase, he’s paid for the equipment in several ways. His father, who started the business, only paid cash. While Jim tried to keep that up for several…
There is a “person” in your phone that answers your questions. Amazon seems to read your mind when you land on their website. Some cars even parallel park for you. Often people think of companies like Google and Apple when they think of technology innovation, but in business, technology advances extend far beyond the mobile devices and websites. Commercial equipment…
People get too many emails. Most of your company emails won’t be opened. But if 15% of your audience open your emails regularly and just 5% of them take action…it could lead to 15-20% overall sales growth. That’s big money. So, to build a simple email campaign that will drive more sales opportunity do the following things: The Deal of…
What if you could sell more equipment in 2016 at the same or better margins while your customers enjoyed a lower net investment. What if your customers could have more or better revenue producing equipment in-service without spending more total money? They can. In December, Congress brought back the strength of the Section 179 Tax Deduction for businesses. Under the…
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,…
