Originators in the commercial equipment leasing and finance industry are measured by the quality of assets that they generate. The long-term performance of an originator's personal portfolio matters. Originators' incomes are determined by their daily ability to generate new assets. Career and industrywide reputations are established by ensuring that those generated assets are well performing.
Top originators work with their internal and external partners to ensure they are producing the best performing assets by:
Recognizing credit professionals as their partners rather than their adversaries. Top originators work closely with their credit departments and funding partners to understand credit criteria. Top producing originators prequalify transactions and seek out the highest quality transactions.
Trusting their gut feelings about marginal transactions. They shy away from transactions that do not add-up and point out pros and cons of every transaction.
Avoiding short cuts. Top originators are proponents of knowing the customer, the vendor, and the transaction. Top producers are constantly advocating for having the facts and presenting the facts correctly to their credit partners. Top producers save time and maximize their incomes by doing the process correctly the first time and every time.
Winning transactions through value-added services rather than commoditized pricing and reduced credit requirements. Top producing originators are long-term players in the market, and they command respect by understanding all aspects of the risk and reward markets in which they participate.
Originators throughout the industry are experiencing strong production opportunities in 2021. Top producers are taking the opportunity to build their reputation within the industry. They know strong production numbers are enhanced when they consist of well performing assets. Quality matters.
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This "Sales Tip" is provided by Wheeler Business Consulting.