Wheeler Business Consulting:
The commercial equipment leasing and finance industry is moving forward. Over the past five months, participants have made major adjustments to position themselves for the new economic environment. Some companies are doing better than others. Generally, fundings have returned to near normal levels and most finance and leasing operations are better prepared to handle any upcoming portfolio management challenges. All good news.
My concern is that for the first time in my nearly forty year career, the industry may become a lagging indicator, rather than a leading indicator. For example, the commercial equipment leasing industry started to slip in the fourth quarter of 2007, while the real crisis did not hit the general economy until the third quarter of 2008. The current crisis is definitely different - it hit hard and fast. The equipment leasing and finance industry was robust in December 2019 into January 2020; professionals and companies were performing at a historically high level. By mid-March, the economy began to deteriorate; and many industry participants started to see declines in production and portfolio performance. However, by the end of June into July, most professionals in the industry felt as if the impact, to date, was better than anticipated. There are underlying factors which have masked the true impact (PPP money, government subsidies, deferments, etc.) and most anticipate additional challenges to develop for the industry over the coming months. Are you and your company prepared for more changes and challenges?
Wheeler Business Consulting has been providing consultative services to companies and individuals to help them prepare for "what comes next".
Wheeler Business Consulting has facilitated over 100 individual coaching sessions with seasoned professionals over the past three months. These remote sessions focus on individual strategies to sell in the new economy and positioning professionals and companies to succeed. Old tactics may need to be revised to prepare for the future.
Basic skills may need to be polished; team building and relationship building is essential. Time management is critical. Wheeler Business Consulting is participating in ongoing strategic planning meetings with management teams to offer an alternative perspective of "what ifs" and what unintended consequences may arise tomorrow from decisions made today. It is the industry-wide perspective that Wheeler Business Consulting provides that helps companies and individuals to make better decisions.
Wheeler Business Consulting works with management teams to further develop their talent, to identify and strengthen weak links within their 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 to better position your organization in the market.
Wheeler Business Consulting has been engaged by a name-recognized participant in the industry to purchase portfolios in various equipment and industry niches. If your company is looking to re-balance its internal portfolio and/or sell a portion of, or its entire portfolio, contact Scott at 410-877-0428.
Comments and suggestions are always welcome.
Scott A. Wheeler CLFP
Wheeler Business Consulting LLC