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The 2 Psychological Factors Motivating Customers to Buy

Posted by Paul Vella on December 22, 2014

selling

If you work in sales (that is all of us in some way, right?), it is helpful to understand the psychology behind how buyers make their buying decisions. Start with these three steps:

1. Current dissatisfaction. Every purchase decision (every decision, no exceptions) begins with a buyer's current dissatisfaction. Feeling dissatisfied with something automatically makes a person a buyer.

As soon as that dissatisfaction sets in, buyers begin looking for a way to right the wrong. As a sales person, it becomes your job to discover that "wrong" and lead buyers toward the new "right."

Current dissatisfaction serves as the primary motivating factor. The greater the dissatisfaction, the higher the urgency. Read more...

45 Sure Ways to Wreck Your Customer Relationships

Posted by Paul Vella on December 5, 2014

customer relationships

I recently read a quote by Richard Branson that I think really hits home. Says Branson, "Customers may be our heart, but our people are our soul." In any business, it's the people who work in it who serve customers, and it's up to leaders to serve their people so they can provide great service.

However, some employees don't understand the importance of providing customers with great service. Instead, they take them for granted--and sometimes even abuse them. This of course is unacceptable.

Says Frank Sonnenberg, small-business expert and author of Follow Your Conscience, "You work hard to attract new customers. Why not invest the same effort in retaining them?" Read more...

Two Key Factors to Consider When Scaling Your Company

Posted by Paul Vella on December 1, 2014

Scaling Your Company

The C100 recently held its annual Accelerate Toronto event. These events, which take place across the country, celebrate and showcase technology entrepreneurship and innovation. This year’s theme was about scaling from anywhere, and as co-chair of the C100, I’ve had firsthand exposure to what it takes to successfully grow a technology company.

While every entrepreneur needs to think about product, market, customer acquisition and – in many cases – financing, it’s the talent and support from the ecosystem that are truly essential to scaling a tech company.

1. Think about your management team early and often. Most entrepreneurs realize the importance of building a product or platform to scale from day one. But scaling a team is often a more challenging proposition. The smart, scrappy team that can get a company off the ground doesn’t necessarily have the relevant expertise to get that company to IPO.

Adding an executive layer to a company can be difficult, especially for those entrepreneurs who are doing it for the first time. These founders may not know what an experienced executive in certain functional areas looks like in action, so don’t necessarily know when to hire for the role, what to look for, and how much positive change the role can effect. Read more...

"Whenever you have the chance to draw from your network, be open to listening to advisers and be aware of what you don’t know. The best entrepreneurs I work with are bold, but they listen – they’re like sponges who take all the data they can from the market and from trusted sources, synthesize that information and then make the best decisions they can based on the information they have at hand. They build a solid executive team as the company scales and build a strong, supportive ecosystem around them to help propel their company forward." Equilease's expert leasing advisors have decades of industry-leading knowledge and experience. Consider us your best business ally -- part of the team -- ready to help your business grow and succeed!

 

Broker of the Year!

Posted by Paul Vella on November 14, 2014

broker of the year award

The entire Equilease team congratulates Shawn Beatty for receiving the Broker of the Year Award!

Too Many Family Businesses Have No Succession Plan

Posted by Paul Vella on November 7, 2014

Family Succession Planning graphic

When John Simpson’s father, Jack Simpson, died at 64, he left a perfect tax plan for his estate, but no plan for who should lead CANA Construction Ltd. Initially a chief engineer, the elder Simpson had successfully bought out the Calgary-based company’s founders, but hadn’t designated his own successor. His son John had been employed at the company for most of his life, starting out with a shovel and working his way up to vice-president. But there were other contenders and no obvious plan for selecting one. Read more...

The Huge Opportunity of Mobile Payments

Posted by Paul Vella on October 21, 2014

iPhone payment

John Lanni wanted to keep his customers coming back. The co-founder of Currito, a Cincinnati-based burrito joint with 18 locations in the United States, was looking for a way to build a rewards program, but for a fraction of the cost that major companies usually incur. The solution? A virtual loyalty card that sits on customers’ smartphones. It was a huge hit: Currito signed up 200 customers at each location initially, and the program is still growing more than six months later. Customers are indeed coming back to Currito, too. A recent virtual coupon for a new smoothie saw a 23% redemption rate. Read more…

Mobile commerce and loyalty programs are merging to form more convenient methods of payment for today's time-starved shoppers. Experts advise implementing the new solutions sooner rather than later. Equilease can help obtain the technology required to make your company's payment plan a reality. Call 1-800-463-2081 today!

The Right Way to Network

Posted by Paul Vella on October 7, 2014

If you find yourself networking like crazy online but nothing good ever seems to come of it, you’re not alone. The problem is that social networks reinforce the wrong kind of behavior for making real connections with people.

Think about what happens when you meet someone for the first time, say at a party. If you drone on and on about yourself, I guarantee the conversation won’t last very long. If, on the other hand, you are genuinely interested in the other person and vice versa, there’s a good chance you’ll make a lasting connection. Read more…

The only way to get anywhere in business and in life is to learn how to network effectively, connect with others and build real relationships. Consider us your best partner in business.

Local SEO: The Most Powerful Customer Acquisition Strategy

Posted by Paul Vella on October 3, 2014

Restaurants looking to increase their customer base and drive sales through digital marketing should focus on local search engine optimization (SEO) because of its proven ability to drive in-store sales. Local SEO improves a restaurant’s rankings in local search results and puts businesses in front of consumers at the very moments in which they are actively searching and looking to make a purchase. For restaurants, it is essential to include local SEO as part of their overall marketing strategies.

Local SEO has a high return on investment compared with other marketing initiatives. A survey done by Marketing Sherpa in 2013 indicated that 54 percent of marketers surveyed stated that local search optimization positively affected their businesses. Read more…

Smart restaurateurs lease the required tech to preserve their working capital and line of credit for the day-to-day operating expenses. Call us today.

3 Surprising Studies to Consider Before Setting Your Price in Stone

Posted by Paul Vella on September 29, 2014

Nailing pricing is something retailers, both large and small, struggle with.  Although most of us don't delight in running endless columns of numbers, if it were only a matter of doing the math and figuring out total cost and profit margins, pricing would be fairly simple. But alas, there many more factors at play. Perception for one plays a particularly pivotal role, and there is of course, the competition to consider. Picking your customers' brains and implementing psychological strategies are imperative aspects in the quest for the pricing sweet spot, and a bit of testing and tweaking can work wonders on your bottom line. Before you go ahead, and set anything in stone, here are some studies to consider. Read more…

Ensure your product or service is priced strategically & competitively. We lease POS and everything else your retail business requires. Call us today.

Meet Canada’s Fastest-Growing Manufacturers

Posted by Paul Vella on September 25, 2014

How To Finance Fast Expansion: Stuart Lowther, the CEO of Life Science Nutritionals Inc. ranked #1 on Profit 500's list of Canada's Fastest-Growing Manufacturers says "lease financing on new equipment helped to expand our packaging lines."

There's a pervasive sentiment the manufacturing sector in Canada is dying, if not already dead. Hardly a day goes by without a dispiriting headline about a plant closure or a production delay or the dismal state of our national competitiveness.

To those reports, we offer the following rejoinder: our ranking of Canada's Fastest-Growing Manufacturers. Nearly one in five firms that made the 2014 PROFIT 500 ranking are manufacturers—some 90 in all.

Every company on the list below has grown its sales significantly during a time of near-flat economic growth. Proof: the typical manufacturer on the 2014 PROFIT 500 increased its revenue by 509% over the past five years. For the Top 10, that average skyrockets to 2,618%. Read more…

5 Reasons Not to Hate Your Competitors

Posted by Paul Vella on September 17, 2014

When I owned my coffeehouse (2001 to 2004), people frequently asked me if I hated Starbucks. I didn't. After all, Starbucks is responsible for re-introducing the culture of coffee in the United States and for establishing it in countries where the café culture never before existed. Starbucks put the romance into the coffee experience. Without those romantic notions, consumers wouldn't have given a second look at my drive-thru, or stop by for a fireside chat over a delicious cuppa joe with their friends. Thank you,Starbucks!

Still, the truth is that the coffee giant made it impossible for an independent coffee retailer like me to compete, so I didn't. Instead my business became what Starbucks is not. Read more...

Give your business a competitive edge by providing customers access to on-the-spot financing. Become a VIP (Vendor Integration Program) to get your very own online finance tools, branded with your company's logo. Your customers will have easy access to financing 24/7/365 directly from your website. Call us today for more details 1-800-463-2081

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