Wheeler Business Consulting:
Participants in the commercial equipment leasing and finance industry collect a significant amount of data on a daily basis. The industry has been gathering data for years. The unfortunate fact is that most, if not all of that data, eventually resides in a "black hole" depository. Success in the industry depends upon data and efficiencies. The leaders in the industry have discovered that the data we routinely collect has significant value. There is "gold in those files." There are opportunities in those databases. The information that is needed to double, triple, or even quadruple results has already been collected, but it is NOT being used effectively. The data gathered is NOT being analyzed properly or with enough vigor to impact future activities.
No matter the size of an organization (from a few individuals to hundreds), every participant is collecting the following information on hundreds, if not thousands, of end-users and vendors:
- Personal credit scores
- Time in business
- Equipment types
- Equipment costs
- Employment statistics
- Industry trends
- Cost of funds
- Territorial differences
- Pricing successes and failures
- Daily activity logs
- Efficient relationships
- Inefficient relationships
- AND MUCH MORE
The most successful professionals and organizations are tracking multiple matrices to determine how to best use their resources, eliminate inefficient activities, and to capitalize on new opportunities. Wheeler Business Consulting recently facilitated a process that determined an organization was spending nearly 40% of its resources on one activity which produced less than 10% of the company's bottom-line results; while a different activity, while consuming less than 20% of the company's resources, accounted for nearly 50% of its bottom-line results. By analyzing the data, the company made an informed decision to realign its resources, resulting in improved efficiencies and increased bottom-line results. The numbers don't lie. The data is important, and we often need to be reminded to reach into the "black hole" and extract meaningful data which can significantly change our activities and results.
The industry is currently experiencing a transformation; there will be winners and losers over the coming months and years. There is little margin for costly mistakes. The winners will be those professionals and organizations that not only collect vital data; but, those who know how to analyze and react to important predictive data which will position their organizations for success.
Wheeler Business Consulting works with management teams to further develop their human capital, to identify and strengthen weak links within the 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 better position your organization in the market.
Comments and suggestions are always welcome.
Scott A. Wheeler CLFP
Wheeler Business Consulting LLC
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