Month: May 2017

The Equipment Leasing & Finance Foundation’s monthly confidence index for May 2017 reveals interesting insights into the equipment finance market. Despite a slight dip in confidence, industry experts remain optimistic about the future. In this blog post, we’ll explore the key findings from the report and analyze the factors influencing market confidence and the potential impact on the economy. Let’s delve deeper into the survey responses and understand what the future holds for the equipment leasing and finance industry.

Confidence Levels in the Equipment Finance Market
The May 2017 index shows a moderate decline in market confidence, with the confidence index falling from 65.8 in April to 63.2 in May. This slight decrease may be attributed to the uncertain political climate and changes to healthcare legislation, which could have influenced businesses’ cautious approach to capital expenditures.

Business Conditions and Demand Expectations
When asked about their business conditions over the next four months, 22.6% of executives believe that conditions will improve. However, this percentage has decreased from 36.7% in April, indicating a growing sense of uncertainty among industry professionals.

Regarding the demand for leases and loans to fund capital expenditures, 39% of respondents expect an increase in demand over the next four months. This figure shows a slight decrease from 40% in April, suggesting a cautious sentiment among businesses regarding capital investment.

Access to Capital and Hiring Expectations
The majority of respondents (83.9%) expect the same level of access to capital to fund their businesses, indicating relative stability in the financial environment. However, there is a slight decrease in those expecting more access to capital (12.9% in May compared to 16.7% in April).

On the employment front, 45.2% of executives expect to hire more employees over the next four months. While this is a positive sign, the percentage has risen only slightly from 40% in April.

Outlook on the U.S. Economy
Despite the cautious approach seen in the equipment leasing and finance market, respondents remain optimistic about the U.S. economy. All respondents rated the U.S. economy as fair, with the majority expecting steady economic growth.

Approximately 42% of survey participants believe that U.S. economic conditions will improve over the next six months, a figure that has slightly decreased from 46.7% in April. Conversely, 6.5% of respondents expect economic conditions to worsen in the next six months, up from none in the previous month.

Factors Influencing Market Sentiment
Several factors have contributed to the cautious sentiment in the equipment leasing and finance industry. The uncertain political climate and the delay in tax reform and healthcare policy have impacted investment decisions, leading businesses to adopt a more conservative approach to capital expenditures.

The changes to healthcare legislation have also created some uncertainty, potentially slowing down market growth. However, industry experts believe that the waiting game played by small businesses in the first quarter has ended, and demand is expected to flow more freely in the coming months.

The Equipment Leasing & Finance Foundation’s May 2017 confidence index may have experienced a slight decline, but the industry outlook remains cautiously optimistic. Despite concerns about the uncertain political climate and healthcare legislation, the equipment leasing and finance market is expected to stabilize.

As businesses navigate the ever-changing economic landscape, access to capital and hiring expectations remain relatively stable. By closely monitoring market developments and being proactive in decision-making, businesses can position themselves to seize opportunities and thrive in the equipment leasing and finance industry.

In the coming months, businesses should stay attuned to policy changes, economic indicators, and market trends. By doing so, they can adapt their strategies and make informed decisions that align with the evolving economic landscape.

Just like in baseball, sales can sometimes feel like a game of averages. Many salespeople dream of hitting it out of the park with their numbers, but instead, they find themselves stuck in mediocrity. They become the “Average Joes” of the sales world—steady performers, but never quite reaching the top. So, what can we learn from baseball to help us become all-star salespeople? Let’s take a lesson from a legendary baseball player, Babe Ruth, and see how his approach to the game can transform our sales performance.

Unleash Your Inner Babe Ruth

Babe Ruth was one of the greatest baseball players of all time, known for his powerful hitting and charismatic personality. But did you know that he also held the record for the most strikeouts? Babe Ruth understood that striking out was part of the game; it was a necessary risk to take if he wanted to hit home runs. In sales, we can adopt the same mentality.

Don’t be afraid of rejection or failure; they are inevitable in sales. Embrace them as stepping stones to success. Babe Ruth didn’t let strikeouts affect his confidence, and neither should you. Every “no” you hear is just one step closer to a “yes.”

Practice Makes Perfect

Babe Ruth didn’t become a home run king overnight. He practiced relentlessly, honing his skills and perfecting his swing. Similarly, sales success requires practice and continuous improvement.

Invest time in refining your sales techniques. Attend workshops, read books, and seek mentorship from top-performing salespeople. The more you practice and learn, the better equipped you’ll be to handle any pitch that comes your way.

Embrace the Team Spirit

Baseball is a team sport, and even the most exceptional players rely on their teammates for support. In sales, collaboration is equally important. Work closely with your colleagues, share insights, and learn from one another. A strong team can elevate everyone’s performance.

Avoid “Spectator Mode”

In baseball, some players get so focused on watching the game that they forget to play. In sales, this can happen when you spend too much time observing what other salespeople are doing instead of taking action yourself.

Don’t let “spectator mode” hold you back. Be proactive and take the initiative. Set challenging goals and take calculated risks to achieve them. Don’t wait for opportunities to come to you; go out and create them.

Focus on Your Swing (Sales Pitch)

Just like a baseball player’s swing is crucial for hitting a home run, your sales pitch is essential for closing deals. Craft a compelling and persuasive pitch that addresses your prospect’s pain points and demonstrates the value of your product or service.

Tailor your pitch to each prospect, and be ready to adjust it on the fly based on their responses. A well-executed pitch can be the difference between striking out and hitting a home run in sales.

Stay Resilient

In baseball, even the best hitters go through slumps. It’s all part of the game. Similarly, sales can be unpredictable, with ups and downs. The key is to stay resilient and bounce back from setbacks.

When faced with a challenging month or a lost deal, don’t dwell on the disappointment. Instead, analyze what went wrong, learn from it, and use that knowledge to improve your future performance.

Play the Long Game

Baseball games can be long, and players must maintain focus and endurance throughout. In sales, it’s essential to have a long-term perspective. Building strong relationships with prospects and customers takes time, and success may not come overnight.

Be patient and persistent. Keep nurturing leads, even if they don’t convert immediately. The effort you invest today may lead to significant wins in the future.

Wrap-Up

Just as Babe Ruth became a legend in baseball by embracing risk, practicing rigorously, and staying resilient, you can transform your sales game from average to all-star. Don’t fear rejection; swing for the fences, and remember that every “no” is one step closer to a “yes.” Continuously improve your skills and work together with your sales team to achieve greater success.

Focus on crafting a compelling sales pitch tailored to each prospect, and be prepared to adjust it as needed. Stay resilient, learn from your experiences, and maintain a long-term perspective. By adopting these principles from baseball and the legendary Babe Ruth, you can hit a home run in sales and become an all-star performer in no time.

In today’s dynamic business landscape, small businesses need to be agile and well-equipped to seize new opportunities. As the Equipment Leasing and Finance Association (ELFA) highlights, financing equipment can be a game-changer for these businesses, providing them with a range of benefits that help drive growth and success. In this blog post, we’ll explore the reasons why nearly eight in 10 U.S. businesses choose equipment finance during National Small Business Week. From 100% financing with no down payment to convenient bundling solutions, read on to discover how financing equipment can transform your business.

100% Financing with No Down Payment

One of the most significant advantages of equipment financing is the ability to secure 100% financing without a down payment. This means that you can acquire essential equipment and technology immediately without depleting your cash reserves. By preserving your capital, you gain the flexibility to invest in other critical areas such as business expansion, marketing, research, and development, which are essential for long-term success.

Cash Flow Management and Expense Planning
Equipment leasing or financing allows you to spread expenses over time, matching your cash flow and business cycle fluctuations. Unlike large upfront capital expenditures, lease payments can be tailored to fit your budget, providing you with better control over your financial commitments. This predictability enables more effective financial planning, empowering you to allocate resources efficiently.

Risk Mitigation and Inflation Hedging
Investing in capital-intensive equipment comes with inherent risks, especially when technology evolves rapidly. By opting for equipment financing, you shift the risk of ownership to the lessor. This way, you won’t have to bear the burden of owning outdated or obsolete equipment. Additionally, with deferred future payments, you can hedge against inflation, ensuring that your equipment retains its value over time.

Access to Better Equipment and Technology
Equipment financing empowers you to access cutting-edge equipment and technology that might otherwise be financially out of reach. Upgrading to more advanced machinery enhances productivity, efficiency, and quality of output. Staying at the forefront of technology can also give you a competitive advantage, attracting more customers and helping your business thrive.

Expertise from Industry Professionals
When you finance equipment, you benefit from the expertise of professionals who understand your industry’s unique requirements. Equipment finance providers have in-depth knowledge of the equipment you need and can offer tailored solutions that align with your business objectives. Their insights and guidance can help you make informed decisions and optimize your equipment usage.

Asset Management Simplified
From the moment of delivery to disposal, equipment finance solutions often include asset management services, lifting the burden of maintenance and end-of-life concerns from your shoulders. This level of support allows you to focus on your core business activities while leaving the logistics and maintenance to the experts.

Convenience of Product and Service Bundling
Equipment financing offers a comprehensive solution by bundling products and services into a single, easy-to-manage package. This simplifies your administrative processes and allows you to concentrate on your business operations. By dealing with a single provider, you can streamline communications and avoid the complexities of managing multiple vendors.

As small businesses strive for growth and success in a competitive landscape, equipping themselves with the right tools becomes paramount. Equipment financing emerges as a compelling solution, offering 100% financing, cash flow management, risk mitigation, access to top-notch equipment, and expert support, all while simplifying asset management and bundling services for added convenience. Embrace the benefits of equipment financing today and set your business on the path to prosperity.