During a recent conversation with several seasoned originators in the commercial equipment finance and leasing industry, we discussed how luck happens to those who work the hardest. We agreed that we would all accept luck whenever it comes our way. However, it was our consensus that luck was never enough to be a top producing originator.
Originators are very fortunate in summer of 2021 that the market is robust. There is plenty of business available for originators who are active in the market. Even average producers are posting strong monthly production numbers. If an originator is relatively new to the industry it is taking weeks rather than months to ramp up and find, approve, and fund his first few transactions. With the above as our assumptions, I asked the group for their suggestions of how originators at all levels should be leveraging their good fortune of being in the industry at a time when the market is so strong, and a few responses are below:
Do not assume that your production numbers are strictly a result of luck, nor should an originator assume that they are doing well because they are such an outstanding salesperson. It may be, and probably is, a combination of both.
If an originator wants to take advantage of the strong market she should be working harder and smarter than ever. Now is not the time to slack off, but to aggressively move forward.
Build deep and long-lasting relationships now while business is strong. Relationships built now will sustain you when business becomes leaner (and lean days will come).
Do not get cocky; you are not as good as you think. Being humble is a virtue.
Do not take any relationship for granted. Embrace your clients daily and let them know how much you appreciate their business.
Learn something new every day and use what you learn to better serve your clients.
Originators are lucky to be involved in the lucrative commercial equipment finance and leasing industry in the summers of 2021. Now is the time to leverage your talents and maximize your effectiveness in the market. Think and act more boldly.
Survive - Thrive - Lead
This "Sales Tip" is provided by Wheeler Business Consulting.