Tag Archives: equipment leasing

Living & Being Above Average

freedomIf we are honest with ourselves, most people don’t want an average life or existence, the great news is that we don’t have to settle for average in anything. We can change gears and our circumstances anytime, it’s up to us!

Of all the things that can have an effect on your future, I believe personal growth is the greatest. We can talk about sales growth, profit growth, asset growth, but all of this probably will not happen without personal growth. It’s really the open door to it all. In fact I’d like to have you memorize a most important phrase. Here it is, “The major key to your better future is YOU.”

Let me repeat that. “The major key to your better future is YOU.” Put it someplace where you can see it every day, in the bathroom, in the kitchen, at the office, anywhere where you can see it every day. The major key to your better future is YOU. Try to remember that every day you live and think about it. The major key is YOU.

Now, there are many things that will help your better future. If you belong to a strong, dynamic, progressive company, that would help. If the company has good products, good services that you are proud of, that would certainly help. If there were good sales aids, that would help, good training would certainly help. If there is strong leadership that will certainly help. All of these things will help, and of course, if it doesn’t storm, that will help. If your car doesn’t break down, that will help. If the kids don’t get sick, that will help. If the neighbors stay half way civil, that will help. If your relatives don’t bug you, that will help. If it isn’t too cold, if it isn’t too hot, all those things will help your better future. And if prices don’t go much higher and if taxes don’t get much heavier, that will help. And if the economy stays stable, those things will all help. We could go on and on with the list; but remember this, the list of things that I’ve just covered and many more – all put together – play a minor role in your better future.

The major key to your better future is you. Lock your mind onto that. This is a super important point to remember. The major key is you. A friend of mine has always answered when asked, “How do you develop an above average income?” He says, “Simple. Become an above average person. Work on you.” My friend says, “Develop an above average handshake.” He says, “A lot of people want to be successful, and they don’t even work on their handshake. As easy as that would be to start, they let it slide. They don’t understand.” My friend says, “Develop an above average smile. Develop an above average excitement. Develop an above average dedication. Develop an above average interest in other people.” He says, “To have more, become more.” Remember; work harder on yourself than you do on your job. For a long time in my life, I didn’t have this figured out.

Strangely enough, with two different people in the same company one may earn an extra $100 a month, and the other may earn a $1,000. What could possibly be the difference? If the products were the same, if the training was the same, if they both had the same literature, the same tools. If they both had the same teacher, the same compensation plan, if they both attended the same meetings, why would one person earn the $100 per month and the other person earn the $1000? Remember here is the difference…the difference is personal, inside, not outside, inside.

You see the real difference is inside you. In fact, the difference IS you. Someone once said, “The magic is not in the products. The magic is not in the literature. The magic is not in the film. There isn’t a magic meeting, but the magic that makes things better is inside you, and personal growth makes this magic work for you.”

The magic is in believing. The magic is in daring. The magic is in trying. The real magic is in persevering. The magic is in accepting. It’s in working. The magic is in thinking. There is magic in a handshake. There is magic in a smile. There is magic in excitement and determination. There is real magic in compassion and caring and sharing. There is unusual magic in strong feeling and you see, all that comes from inside, not outside. So, the difference is inside you. The real difference is you. You are the major key to your better future.

Winning – As many of you know we love the correlation of success in sports and success in life and how closely connected they are.

We wanted to take this opportunity to say Thank You for your time this past year. We know how precious a commodity time is and that’s why we take equipment leasing so seriously. Our goal is to provide you and your customers with easy well- priced financing and we hope we have done that.

Have you ever heard this? “It isn’t whether you win or lose. It is how you play the game.” I am sure you have. But do you know who said it? Some guy who came in second place!

You see, I have a problem with that statement. It presupposes, or at least strongly suggests, that winning and playing the game “right” are mutually exclusive propositions. Perhaps we ought to have this as our goal as we pursue success: We want to win, while playing the game right! I totally disagree with the statement that we should win at all costs. Instead, we should do everything good that we can to win at this game we call life. And we ought to also do all that we can to help others win.

With all of that… here are some thoughts on being in the game—to win!

Any “game” worth playing is a game worth pursuing a win in. If I get into a game, I play to win. What nobility is there in playing like a slacker? What virtue is purposeful mediocrity? None! I live my life to be a winner—spiritually, financially, physically, emotionally, relationally—every area of my life! If it is worth doing, it is worth playing for the win!

It is good to win. We live in an age now where people have reacted to sore winners by saying that we shouldn’t strive for winning. Many of our schools have abandoned the idea of competition, and our educational scores show that. Kudos to all of the teachers out there who still tell their kids that they can be winners! It is good and noble to win! It is something to strive for. It is good to push ourselves, to stretch and reach for victory. It is a grand thing to want to win!

There doesn’t have to be a loser in life. Yes, in teamed competition, there are always losers (but more on that in a bit), but in life, we can all win! We can all strive for the best and give it our all to win.

Winners are the ones who move families, businesses, organizations, cities and countries ahead. Winners are the ones who push progress. You don’t think that couch potato is the one who will cure cancer or open up the next great technology do you? No. It will be a person who has chosen to be a winner!

Losing can mean winning. Just because your score in a game or contest is the least at the end of the game doesn’t mean all is lost. You can still be a winner in that you gave it your all, you competed at your highest level, you learned new skills and strategies, and you became a better player and person. That is winning in my book!

Winners help others win. That is right, good people, people who pursue winning by excellence, are also people who stop to help others so that they, too, can enjoy the spoils of victory. Pursue the win, but help others achieve all that they can as well!

Winners make everyone better. When I get into athletic matches I want to play against the best. Yes, I may come up short in the score, but I will be better because that winner will make me grow in every area of my game! Winners stretch the losers so they can become winners too! Thanks Chris Widener.

Going from Intentions to Results. Let’s be honest, many of us have great ideas and plans and go into them with the sincerest intentions of seeing them to completion.

Then something always seems to happen to get us derailed and next thing you know weeks and months slip by and those plans get put on the back burner. This message  gives us some great practical advice on how to bring those plans to completion.

Visit any home improvement store on a Saturday morning, and you will see the beginning of hundreds of projects. People gather supplies, get instruction, and consult with professionals to get their game plans in order. Week after week the same scenario plays out. Based on sales, it would appear that these weekend warriors will soon beautify and improve the entire planet.

But reality and results tell another story entirely. A quick look through the garages and basements of many of these great starters would likely reveal the truth about completion: the final ten percent, for many people, is virtually uncharted territory – meaning they never get there.

Carry the accumulation of half-demolished foyers, clogged caulk guns, and piles of debris into the business world, and it’s no different.

The pattern for success in business is to recognize an unsatisfied need, innovate to find and provide a solution, then to expand and repeat the process. Somewhere between innovation and delivery, we find the no-man’s zone known as completion.

I once employed someone who proved to be an excellent initiator but a terrible finisher. She would start a task but get hung up once she encountered an obstacle. When asked why she didn’t get the job done, she blamed someone for not getting back to her or a situation she’d encountered. In short, she didn’t understand how to drive to completion.

What makes completion such a challenge?

Completion forces us to step forward.
For many people, the thought of completing a goal is unsettling – even when the task at hand is unpleasant. Maybe it’s the sense of the ‘known evil’ being preferable to the unknown one. No matter how ornery a project has become, at least it’s a pain in the neck that is familiar. We know that upon completion, we must choose again. We question whether we’ve got the goods needed to accomplish the next challenge.

Completion forces us to step up.
Concluding the current initiative inevitably moves us to a point of “what next?” For success-minded people, the answer to that question always comes in the form of raising the bar. Knowing that an even greater challenge lies ahead can make incompletion insidiously alluring. We know that each completion is followed by a call for even more. We wonder how we will bear up as the stakes are raised.

Completion forces us to step out.
Whether the task at hand is pleasant or not, we become attached to it. No matter how hard it seemed as we first put our hands to the plow, it is now within our comfort zone. It is familiar, and it seems manageable. People generally fear change. We convince ourselves that survival depends on staying inside our circle of competency. Completion represents a not-so-subtle nudge out of that circle.

For many people, incompletion has become a way of life. It takes the form of procrastination, loss of interest, confusion, and frustration. By remaining at the 90% complete mark, we reap the dubious benefits of security, mediocrity, and familiarity.

How can we push forward for completion?

Assess the current situation.
Focus on one task at a time until it is complete. This sounds like an effective solution – on paper. Chances are, though, that your world is more complex than that. However, even with multiple projects and priorities going on at the same time, you can still focus on one idea at a time and then move on. Each new opportunity should be evaluated before you commit. Remember that ‘good’ is the enemy of ‘best’ in your consideration. Does it serve your purpose? If so, engage and then move forward into completion.

Realize that the final 10% isn’t so bad.
Often the final stretch is comprised of unremarkable, monotonous, or tedious tasks. Because they are less than exhilarating, they seem onerous. Reality is that these final milestones are a lot closer, and a lot easier to attain than they seem. These loose ends rarely take the time or energy we fear they will. Just like the sticker on your car’s rearview mirror reads, completion “may be closer than they appear.”

Understand the price you pay for incompletion.
The process of beginning an initiative and working on it requires that you fully engage your commitment, your creative power, and your attention. The deepest recesses of your mind loathe letting go of these commitments. Like an elbow constantly poking into your ribs, your mind will nag you unceasingly about your incompletion. This distraction is often enough to pull you right out of the game when it’s time to take your next step.

Enjoy the rewards of completion.
The marketplace rewards completion. Every purchase of goods or services is immediately and unconsciously evaluated for completion. If you were to go out for dinner, place your order, and then never receive your food, you would complain, refuse to pay, and never want to go there again. If you purchased a car and discovered it was missing some key component, a steering wheel for example, you would refuse to take delivery.

It’s been said that the key to outrageous success is to do what nobody else will do. This brings to the forefront an opportunity to excel through completion, and reap the rewards of your diligence. A quick look around illustrates people’s tendency toward procrastination, loss of momentum, distraction, and incompletion. By committing to completion, you will do what nobody else will do, and the rewards will follow.

Recognizing the prices and benefits of completion may be enough to move you forward. What prize awaits when you push forward for completion? Thanks Mark Sanborn

 

Weigh the pros and cons of an equipment lease before you sign…

Any business that is considering capital equipment leasing will need to weigh the pros and cons of obtaining a lease as opposed to making an outright purchase.

Any business that is considering capital equipment leasing will need to weigh the pros and cons of obtaining a lease as opposed to making an outright purchase. Many companies are discovering that there are a number of major benefits associated with leasing expensive machinery and other business needs. When seeking a bank loan to pay for equipment, most companies will need to come up with a hefty down payment. Lease agreements usually offer one hundred percent financing and require no down payment whatsoever. The budgeting process is made easier as well. Loan payments can fluctuate over the life of the loan depending on interest rates and other concerns. A lease payment will generally stay the same throughout the terms of the original agreement. Whenever a large loan is taken out, the debtor will see a dramatic decrease in their line of credit that is available. With leasing, this is not a problem. Lines of credit are generally not impacted in any way by a lease agreement. Leased machinery will work as well as machinery
that is owned. So why take on the extra debt when the same benefits to a particular business venture can be achieved through a lease? In some cases, a lease agreement may offer tax benefits that are not available when items are purchased. Many business owners feel that offering up large amounts of money to purchase machinery does not make sense and can be detrimental to a company’s bottom line. For this reason, capital equipment leasing can be a better choice.

Since income and available funds can fluctuate greatly throughout the year, pouring large amounts of money into paying for machinery can be a huge and costly mistake. Choosing capital equipment leasing rather than assuming huge debts can mean the difference between business success and failure. Most vendors and financing companies can work out a lease agreement that best meets the needs of a specific business. The length of a lease can vary and may last between one and five years. Larger equipment will generally have a longer life expectancy and may carry a longer lease as well. With a lease agreement expenses such as installation, freight costs, maintenance, and software can be rolled into the cost of the lease. If obsolescence is a concern, upgrades can usually be factored in to a lease agreement that will address such concerns. There are several different types of capital equipment leasing agreements that are generally available. These agreements could include a capital lease, an operating lease, a master lease, and a deferred payment lease. Capital and operating leases are basic, full pay out agreements. The main difference between these two agreements is that an operating lease allows the expense to be deducted on taxes. A master lease allows for additional items to be leased under the same terms at a future date. A deferred payment agreement allows new businesses to postpone full monthly payments for a brief time.

A variety of organizations can benefit from selecting capital equipment leasing.  In addition to businesses, governments, municipalities, and other associations might choose this option as
long as their credit scores qualify them. Credit worthiness is determined by a number of factors including the overall financial condition of the organization, the length of time that the venture has been around, scores from standard credit rating services, payment histories, and references from banks. While no down payment is generally required when signing a capital equipment
leasing agreement, some vendors may require that clients come up with one or two advance monthly payments at the beginning of a lease. Purchase options are usually outlined in the original terms of the lease and should be clearly explained to a client by a representative of the leasing company. Most leases will commence after machinery and equipment has been delivered and installed. Leased machinery is generally regarded as the property of the vendor and not the
lessee. For this reason, the lessee will not need to pay property taxes on the equipment. Lessees are, however, usually expected to cover the costs of insuring any leased items. These policies can be attained separately, or can be included by the vendor in the original contract. Most vendors will also allow clients to request a buyout quote at any time during the life of the lease if they so desire. Leasing companies will generally allow clients certain add on and upgrade options. Cancelling a lease agreement usually is not an option.

Before choosing a provider of capital equipment leasing, there are a few questions that a potential client may want to ask. The questions could include an explanation of all costs and what kinds of additional options are included in the agreement. Asking the right questions can help to ensure that the vendor that is chosen will be a good fit for a particular business.

Once a decision to go with capital equipment leasing has been made, a reputable vendor will need to be selected. Choosing how to finance the lease is another important decision. The CLFA, or Canadian Leasing and Finance Association can help a potential lessee make these crucial decisions. Including accountants and tax consultants in on these decisions can be a good idea. Whatever choices a business might make, the option of leasing needed machinery can be a cost
effective way to move forward.

Offer a Vendor Equipment Leasing Program to Enhance Sales and Profits

Vendors who offer a properly structured equipment leasing program are giving the customer a viable financing option. In addition, they are taking a major step to increase sales, market share, and profits. Yet it’s surprising how many companies will not provide a leasing program. Some say it’s because their customers have their own sources. Others say their customers pay cash. This mindset can be costly in a variety of ways. The biggest problem is that it can drive the customer to the arms of your competition. Customers can view the vendor as a one-stop shop where they can both fulfill their orders and get the financing they need, rather than having to seek financing from a bank or other financial institution.

Some equipment suppliers do offer a leasing program, but give the customer a choice between several leasing companies for them to use. That may sound practical, but shopping deals with a multitude of leasing companies can actually lower the chance of approval. If the customer chooses one of the leasing companies, and is subsequently declined, two negative actions may result. First, the credit inquiry lowers the customer’s credit score. Second, it will be clear this is a shopped transaction, and will make it more difficult to get the credit approved. If it is approved, the lower credit score will cause the rate to be higher.

Establishing a sound relationship with one reputable leasing company is the best course of action for both vendors and customers for several reasons:

1. The relationship (allowing one leasing company to be involved) should result in lower rates for your customers, thereby making it more attractive to buy from you. If a vendor uses multiple companies and shops deals, they will not usually get the best rates.
2. Using one leasing company results in better pricing because of increased volume. Leasing companies make more money when deals come through referrals, rather than expensive marketing. The referral business is more profitable because it provides a steady stream of deals from clients who are looking to acquire equipment now and need financing.
3. Because maintaining the relationship with the equipment supplier is critical to profitability, they will do everything in their power to keep the approval rate high and the lease rates low. These savings are passed on to the client.
4. The leasing company will also be more motivated and go the extra mile to fund the most challenging credits.
5. Because of economies of scale involved with large volume directed to the leasing company, the supplier is often entitled to referral fees of 1% to 2%, thus providing an additional income stream.

Utilizing credit control allows the vendor to maximize approvals while getting the best possible rates for clients. Leasing companies often spend a lot of money on marketing to increase their sales volume. With a vendor leasing program in place, the leasing company receives a steady flow of very similar clients who are seeking equipment now, and need financing. Since no additional marketing funds were incurred to get those clients, leasing companies pass on the savings by virtue of favourable pricing. Thus, the company’s customers benefit by enjoying lower financing costs as a result of its direct relationship with the leasing company.

Providing a lease option for your customers has tremendous advantages to everyone involved. Both the leasing company and equipment supplier will likely enjoy increased profits and the customer can acquire much needed equipment without a large down payment. Another advantage to the customer is that leasing allows them to easily upgrade their equipment package to a state-of-the-art level.

To set up a vendor leasing program, the financing company will typically expect the company to be in business for at least a year. It will review the stability of the business and its customers. Leasing is usually easier to obtain than bank loans or letters of credit, even though there is a determination of risk to the finance company. who offer a properly structured equipment leasing program are giving the customer a viable financing option. In addition, they are taking a major stp to increase sales, market share, and profits. Yet it’s surprising how many companies will not provide a leasing program. Some say it’s because their customers have their own sources. Others say their customers pay cash. This mindset can be costly in a variety of ways. The biggest problem is that it can drive the customer to the arms of your competition. Customers can view the vendor as a one-stop shop where they can both fulfill their orders and get the financing they need, rather than having to seek financing from a bank or other financial institution.

Some equipment suppliers do offer a leasing program, but give the customer a choice between several leasing companies for them to use. That may sound practical, but shopping deals with a multitude of leasing companies can actually lower the chance of approval. If the cus

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Heavy Construction Equipment Leasing- Advantages and Finance Options. To keep money free up in terms of the company’s line of credit….

Equipment leasing is a simple solution to grow your business with an ever changing economy. You can lease any and every type of equipment. In this article, emphasis will be on heavy construction equipment leasing.

To keep money free up in terms of the company’s line of credit, leasing is cheapest and best option for construction companies. So cash will be available in case of financial emergency or any other time of need. It is the most beneficial managerial and financial strategy to conserve working capital for any company. It resolves issues related to cyclical and seasonal fluctuations by slotting your payments into the months when your business’ sales are on peak. Furthermore, a lot of companies in construction opt for leasing as a good alternative in acquiring equipment to buying. There are advantages of heavy construction equipment leasing, which are:-

1.Your have a stable cash flow.
2.Assets are well managed.
3.Up gradation of Equipments can be done easily.
4.Customized payment

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The benefits and Risks of Equipment Leasing

The benefits and Risks of Equipment Leasing

When discussing the issue of business growth and profits, the most vital elements that can come into picture are equipment leasing and equipment finance. There is certainly universal need of acquiring equipment on lease or finding a financial solution for starting, building or obtaining a company. There is however very limited comprehension of how the process of obtaining the ideal lease program one of many business owners.

Equipment Leasing is the greatest choice for business financing. It’s the largest type of asset based lending and is also steadily growing. Sets from computers and office furniture, to heavy duty equipment and farm gear might be qualified to receive lease financing. The business of leasing is normally centered on special style of assets.

The fundamental attractiveness of leasing lies in simplicity- Lessor purchases an asset and provides the Lessee title to the asset in exchange for funding to purchase it until final

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A Business equipment lease can help you get started in Business

Business equipment lease products can save you time, money and the worry of knowing when to replace outdated machinery. The leasing business is growing because of the greater need for equipment and the larger range of products which businesses need. The traditional heavy machinery still forms a large part of business equipment leasing, but there are many other items which are now routinely leased. Virtually every business has a need for information technology equipment, and this is constantly changing and being improved. Leasing computers allows you to keep up with developments, and will save you time and money in the long run.

As well as heavy industrial machinery and computers, vehicles are also routinely leased. This happens most often where the vehicles form the core part of the business and are actually used in delivering the product or service to the customer. The business will usually need a fleet of vehicles, and will not want the initial capital outlay of bu

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Leasing as an alternative to buying

Equipment leasing is an option that allows companies to acquire everything from restaurant equipment to corporate aircrafts without the initial outlay of cash.

The basic concept of leasing is the borrowing of equipment over time in exchange for money through a long-term capital investment (renting to own over a period of five to seven years) or a short-term operating lease (the option to purchase or return the asset at the end of the contract period).

There are many advantages to leasing equipment:

  • Financing: The option to use equipment-leasing companies can allow startup and expanding companies to purchase or borrow new and used equipment without the initial cash output, often allowing 100 percent financing, where the loan method may require a deposit of up to 25 percent.
  • Credit: In the current economic climate, cash flow can be tight and companies can find it difficult to obtain bank loans for equipment. According to the Equipment Leasing and Finance Association, credit standa

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heavy equipment leasing

Commercial heavy equipment leasing enables small business owners to acquire up-to-date machinery, high-tech tools, and other assets to compete with larger corporations and increase productivity. When it comes to financing equipment, Mom-and-Pop operations and sole proprietorships usually lack the capital, the cash and the collateral to negotiate substantial funding from traditional lenders. This inability to finance capital equipment can cause businesses to lose out on hundreds of thousands of dollars in revenue, and prevent owners from vying for more lucrative contracts. Federal and state governments frequently advertise requests for proposals to furnish road and highway construction and repair, commercial paving, product manufacturing, or farming and agricultural services. But the lack of adequate tools could disqualify many enterprises from bidding on government set-asides geared toward helping small disadvantaged or minority-owned business owners. For some, without the ability t

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