Equipment Trader

NASA (National Aeronautics and Space Administration) was a newly formed organization in 1958 with the expectation of doing great things beyond the bounds of earth. They were embarrassed when the Soviet Union launched the first orbital satellite, Sputnik, in 1959. The leadership of NASA had set goals they wanted to achieve, in fact they had set eight major goals. One of them stated, “The development and operation of vehicles capable of carrying instruments, equipment, supplies and living organisms through space.” The Soviet Union had one goal, to be the first country to launch an object into orbit around the earth. Goals are interesting, inspiring, and motivational, if (and I do mean if) they are structured in a way that can lead to viable results. That’s where great leaders come into the picture. Read More

It’s so easy for a team to lose points if there isn’t someone keeping an eye on the ball. And it’s easy for a dealership to lose leads and sales if there isn’t a manager position dedicated to growing absorption rates and expanding fixed ops. Okay, that moved from baseball analogy to technical jargon pretty quickly, so let’s take this a step at a time. Read More

Let’s face it- calling a business when we have an issue to resolve isn’t always a process we look forward to, even if we do get to choose our own hold music. Nothing is guaranteed to raise your blood pressure quicker than hearing ‘Your average wait time is 25 minutes. Your call is very important to us!’ Is it? Is it really? Does it have to be like this? What if your customer service experience could be a good one? Certain businesses are known for their excellent customer service. They take these main points into account: Read More

In prospecting for new customers there are many ways to target.  Three important measures successful companies use to evaluate the effectiveness of any successful marketing campaign are “cost per prospect,” “cost per lead,’ and “cost per sale.”  Let’s look at all three terms and then talk about the most effective ways to gain new customers. Read More

I still get in heated discussions by commercial sales consultants who tell me they started their careers cold calling and it was how they built their business.  That does not mean it is the best method to grow sales, at the time most sales consultants had no formal training on how to properly grow the business. I am not against cold calling. In fact, when I am in the field with sales consultants and we are on an appointment call, I will always ask this question: “Mr. Prospect, thanks so much for taking the time to meet with us, your time was appreciated. Could I ask one more question? Do you happen to have a relationship with any of the businesses around you?” If the prospect says yes, I ask “Would you mind if we dropped in just to leave a business card and mention that we had just met with you?”  They always say yes! Now your next call becomes a warm call since you have a referral source! Read More

The movie “The Right Stuff” was the story of the early jet test pilots and the first seven astronauts selected by the NASA space program for the Mercury project.  The courage and tenacity of these pioneers is a testimony to the human urge to go beyond danger and fear to reach what is often believed unreachable.  I look at the sales profession in the same light.  No, you don’t face the danger that a test pilot or astronaut would have faced, but you do need the courage and belief that you can reach new heights by becoming a true “sales professional.” I want to define the term “sales professional” in this article.  I come across numerous sales people who want to be successful but struggle, often through no fault of their own.  Do you have “The Right Sales Stuff?” Let’s find out! Read More

An interesting buyer segmentation that we’ve noticed is that there are two types of buyers: those that plan and those that react. They are two very distinct buying groups that often operate differently.

Planners are usually bidding on a job or contemplating the purchase of replacement equipment, while reactors are encountering an unplanned situation that calls for an immediate equipment solution. Our job, as equipment dealers, is to effectively get in front of both types of buyers. Read More

Over the past three years, we have seen a sharp uptick in construction equipment purchases in December. It’s the time of year when a business’s accountant wants the owner to take advantage of the tax code and exemptions and refunds for equipment purchases. Dealerships that desire to take advantage of this seasonal spike in potential buyers need to begin marketing now, before decisions are finalized. Read More