The Home Stretch
There is still plenty to accomplish as we enter the last stretch of 2018. Historically, the fourth quarter, and especially the last six weeks of the year, are extremely active in the commercial equipment leasing and finance industry. Top producers in the industry are busy closing transactions and working with vendors and end-users to get equipment delivered, documents signed, and invoices paid before the end of the year. It's almost funny how a date on the calendar (December 31, 2018) can motivate individuals to act, for processes to quicken, and for transactions to close. There is a sense of urgency in the air.
Strong originators capitalize on this sense of urgency and instead of relying on their past activities (deals funded in the past 11 months) they push forward. They actively solicit additional business until the last possible minute. They continue to ask for additional transactions that could be closed by the end of the year. They participate in the year-end rush.
The home stretch is a perfect time to:
- Call an end-user that you funded in the first or second quarter and ask what acquisitions they will be making before the end of the year.
- Call a vendor and ask about the big transaction that has been hedging for weeks that you can help him close before December 31st.
- Call an end-user that you lost a deal from in June and explain how it's not too late to start a relationship in 2018.
- Call a past customer and ask how you can help them acquire equipment NOW.
- Call end-users and vendors and explain that you have access to an additional $xx.0MM of capital that you have been tasked to employ before the end of the year - do they have any immediate needs.
What you do and sell in the next few weeks can be the difference between a good or a great 2018... Push to the end.
This "Sales Tip" is provided by Wheeler Business Consulting.
Comments, questions and suggestions regarding
weekly tips are welcome.