Volume 2 Issue 2 June, 2015
Letter from the Editor:
It's summertime once again!
Along with booking good business in the recovery, make sure you add plenty of time for family, swimming, barbeques, beaches, and adventures.
Watch out, your Leasing Logicteam is touring the pool areas for stories. And, L.L. Snip, the notorious Publichstzer Prize winning reporter, will be out on the beat in t
he summer heat collecting NAELB news. (more)
Enjoy your Snippets and your summer,
Hard at Work: LL Snippet never takes a vacation!
|Are YOU ready for the summer?
LL Snip asked you ...
... and here is what some of you said:
Beaver Creek, Colorado. A place that promises to transport you from everyday life to the proverbial destination of your dreams. Yep. That's where I'm going.
In just a few short weeks, I will be loading up my small sports car with:
- my 17 year-old "I'm full of angst and deny it" son
- my 3 year-old "the music is too loud if it isn't the Frozen soundtrack" toddler
- my 13 year-old "my name isn't Kardashian but I sure love to snap a lot of selfies" pre-teen
- lots of bottles of shampoo
The two day long ride will no doubt be one of ease as I calmly make my way to a land that vows to fulfill my every wish! I'm confident the little angels will stay calm and collected as they respectfully request for the air to be adjusted or for one of their siblings to kindly move over.
Once I arrive at utopia, I plan to make my aspiration of achieving a work-life balance a reality. Sure, I'll have my computer and cell phone and my call list, and everyone will know exactly how to reach me, but that should be no problem. It's Beaver Creek after all, and that's all that matters.
I'll be turning 36 over the summer in Colorado this year. As I hike up those mountains, refrain from feeding the bears, hold on to my three year-old over the white water rapids, and watch other tourists load onto the Cannabis tour buses - I'll be making the age transition and realizing that I'm just a hop, skip, and a jump away from 40.
It won't be like my recent trip to the Frio River, where I climbed Mt. Baldy with my son and got caught on a cliff, where I thought about jumping to try and get down, but knew I would die if I did. Still, I think it will come damn close to that kind of greatness, and for a summer get away - I think it will do just fine.
Leslie A. Brown, CLP & VP/ Fund Manager
Bravo Capital and Leasing Logic Staff Writer
Plans for the summer for me?
Well, after having record snowfalls last winter, I'm going to be looking to enjoy the warm weather and water whenever I can. Aside from that, I'll be heading to NYC in a week for a long weekend and Vegas in September with my girlfriend Carrie.
Also, I have a couple of weddings to attend in and around the mountains and a lot of Lacrosse games for my son Lincoln. He plays goal and defense and really enjoys his time on the field.
After that, I hope to find plenty of time to enjoy my friends and family. I hope everyone has a safe and wonderful summer.
Scott C. Kelley, Senior VP - Credit
Harbour Capital Corporation
As a National Broker Relations Manager for Team Funding Solutions, I work with brokers nationwide in getting equipment funded for "C Credit" businesses. As a resident of Austin, Texas, my wife and I enjoy catching many of the live music performances in Austin, especially Americana Artists. This summer will be no different.
But as the parent of a high school sophomore, I've had the privilege and pleasure of watching some high level tennis the past few years. My son Alec is a Top 10 in Texas and Top 150 in the country sophomore tennis player. Each summer, he normally competes in two national events along with 3 statewide events conducted by the USTA. This summer, he'll represent Texas in a 5-day team event against teams from Florida, the Midwest, the Southwest, and the Pacific Northwest in Waco, Texas. He lives for this annual event called the Zonals.
Also, we'll travel to EITHER Kalamazoo MI, Miami Fl, or Boston, Mass for the US Hard Court, US Clay Court or the US High School Championships. Some high level kids do two or even all three of these National Tournament Events, but we'll only do one because of time, money, and schedules. Haven't decided which yet. While we're in the area, we'll also begin taking a look at possible colleges for Alec as well. Ironically, I never played tennis and don't coach.... just a low priced chauffeur and bag and luggage handler. I've been doing this with my son for 8 - 10 weekends per year and the above mentioned twice a year 4-5 day trips for the past 4 years. It's been time well spent with my son, and we've made a lot of good friends along the way.
Bill Baskerville, Broker Relations Manager
TEAM Funding Solutions
This summer my wife, Cindy, and I will be putting in a new deck and working in our backyard garden. We'll follow the project up with beer and spend the remainder of summer enjoying the deck and watching the garden grow.
Jim Buckles, President
Preferred Business Solutions/ELBTools
So, board member, Rodney Blecha, what are you doing this summer?
Oh, about the same thing he does every summer, he says, attending and coaching sporting events.
For those of you who know anything about me or have met my girlfriend Kathy, you know our lives revolve around our kids and their sports. My daughter Lilly plays volleyball and softball, and my son Ty plays baseball and basketball. Her daughter Karoline plays volleyball, basketball, and soccer, and her other daughter Samantha plays volleyball and swims.
Here's just a "taste" of our summer plans: Over Memorial Weekend we were in Oklahoma City playing in a softball tournament, in late June we will be in New Orleans at Junior Volleyball Nationals, where all three of our girls will be competing in different divisions for a national championship, and mid-July we will be in Joplin, MO playing baseball at the USSSA World Series event. And those are just our out of town tournaments which does not include about 8-10 more softball, volleyball, and baseball tournaments here in the KC Metro area. Then hopefully, when these are all said and done, we can get away for a little R&R before school starts. Maybe Branson or the Ozarks, but highly doubtful! I wouldn't change it for the world though.
I hope you all have a great summer and look for me on the big screen at the Royals game as I will be there quite a bit this summer as well!
Rodney Blecha, President
Precision Leasing, Inc.
Vacation? What's that???
Rosanne Wilson, CLFP, BPB
1st Independent Leasing, Inc.
How many of us can relate to this? I happen to know that Rosanne will be spending quality time with her brother in an undisclosed vacation destination. But, keep that between you and me. -- LL Snip
NAELB board treasurer, Jaime Kaneshina, told this Snippets reporter that like so many other NALEB parents, life has been busy with High School awards, graduation and plans for college.
Back to the top
"Get the deal off the street." That was true "Back in the Day," and it is still true today, particularly for large transactions. How did we do it then? The obvious solution was to issue a proposal and collect a commitment fee refundable if the deal was not approved or was approved with conditions other than those in the proposal. Usually that is enough to keep the customer from continuing to look for financing while you sweat through the credit process.
But sometimes it doesn't quite work as planned. One time, we were asked to consider a $750,000 deal, so we issued a proposal with a requirement for a commitment fee of 1% ($7,500). The customer signed the proposal and sent it back with a check. During the credit process, I discovered that the customer had signed proposals for two other lessors and had given all three of us $7,500 checks. So what was going on here?
The customer knew his credit was a problem, so he thought he would triple his chances of an approval. It was worth the risk of losing $15,000 if he could get one approval out of the three. Unfortunately, this was a complete strike-out. All three lessors turned down the deal and sent back his checks.
Good try, though.
A little about --
Robert Teichman, CLFP
Bob is a leasing instructor and influential equipment leasing professional. Over his career, Bob has run dozens of seminars and workshops at association conferences and functions. He has also been integral in the development of the CLFP, its programs and continues to instruct students preparing for the CLFP exam.
Bob was recognized at the 2009 NAELB Annual Meeting where he received a commemorative trophy recognizing him as the Leasing News Equipment Leasing Person of the Year. Bob is a leasing industry educator and true professional.
He's almost as experienced as me. -- LL SNIP
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Buzz in the Leasing Biz
ROSANNE WILSON, CLFP OF 1ST INDEPENDENT LEASING, HONORED WITH THE FIRST ANNUAL NAELB PRESIDENT'S AWARD
Joan Modes, Gem Commercial Credit, Inc, outgoing President of NAELB, recently honored a special NAELB member by presenting the first annual NAELB President's Award at the NAELB annual conference held in Phoenix, AZ over the weekend of May 1, 2015. The special member to receive the award is Rosanne Wilson, CLFP from 1st Independent Leasing. The NAELB President's Award goes to one individual (Funder, Broker, Associate) chosen by the president who has been an emissary of the NAELB through volunteerism, committee service, industry advocacy, or other initiatives.
Ongoing networking, education, membership support, and mentoring don't just happen by themselves. They take time and a lot of heart! It's that heart that echoes the NAELB tagline of "SUCCESS BY ASSOCIATION." Rosanne has continuously demonstrated her huge heart for others and selfless service. She served on the NAELB Board of Directors for 5 years, as well as on the CLFP Foundation's board for several years, having been entrusted with the position of President, and she serves on the Leasing News Advisory Board. Rosanne is the Chair of the NAELB Membership committee, has been a volunteer mentor of new members for many years, and participates in membership screening.
Her proudest achievements personally were the birth of two beautiful daughters, marriage at age 50 to her husband, Richard, a Vietnam veteran. Rosanne serves as an inspiration to others by having beaten the horrible cancer that struck her in 2011. She's a grandmother of three grandchildren and became a great-grandmother about a month ago!
Her proudest achievements professionally were starting 1st Independent Leasing 25 years ago, which is still going strong today, and earning her CLFP designation in 1998. She was honored with an NAELB Lifetime Membership Award in 2012.
The Board, the staff, your fellow volunteers, and the entire NAELB association thank you for all you do.
NAELB ELECTS NEW BOARD OF DIRECTORS
Pete Sawyer is President !
The National Association of Equipment Leasing Brokers has elected new officers and directors for 2015-2016.
Pete Sawyer, CLFP
Sun South Equipment Leasing
Fort Myers, Florida
Precision Leasing, Inc.
Jaime Kaneshina, CLFP
Chino Hills, California
Immediate Past President
GEM Commercial Credit
Bancroft Leasing/ Ag Lease
U.S. Financial Companies
Accord Financial Group
Remaining on the board and
as Legal Council:
Joseph Bonanno, CLFP
Three board members terms are up and are
noted for their excellent service:
Sharpe Financial Network* Past President
Continuing to support the NAELB
on many committees
Gary Greene, CLFP
Now Director for the NAELB Leasing SchoolTucson, Arizona
* Past Secretary Treasurer
Now closing deals, camping, writing, and hanging out with LL Snip.
We thank them for their dedication to NAELB throughout the years!
-- LL SNIP and the entire NAELB
A FATHER'S COMMITMENT, A SON'S SACRIFICE, AND A S.O.B.
Serving with Pete Sawyer on the NAELB Board of Directors has been a pleasure. One thing you learn quickly is that serving is truly not for profit, and more times than not there are costs associated with sacrifice. Our previous president, Joan Modes, for example, served a term and a half while transitioning to a new management company, raising and sending off kids in all directions, and losing her dear mother. Each board member puts in hundreds of hours a year for their fellow members and the president typically does double duty. This does not sound very much like a board recruitment pitch, so I'll get back to the father and son story. I'll save the punch line for last.
Pete Sawyer will not get off any easier than his predecessors. And he has only just begun. Unbeknownst to all of us, his compadres in the leasing business, while he accepted the gavel of our association, our newly elected president had to miss his son's graduation. At first, I jested that it was because he could not stand missing a morning of golf with Rodney Blecha, but then Joe Bonanno reminded me that for a hundred other reasons Pete had to be with you and me. Thanks, Pete.
Besides having a name that would make a great character in a Clive Cussler novel, Chip Sawyer graduated from college with a finance degree. Perhaps he will follow his father in the business and in the NAELB? Well, he would not be the first. *
Chip Sawyer is 22 years old and has graduated from the University of South Florida with a major in finance. He has worked his way through school at Publix while simultaneously learning one of the family businesses, the Silver Moon Drive-In.
Chip has visited with various financial firms around town looking for job opportunities. At this point, he has opted to continue in school to pursue a MBA. "We will see," says NAELB President, Pete Sawyer, clearly a very proud father.
Who knows, Chip, you might be the second S.O.B.* (son of a broker) to be holding the NAELB gavel one day!**
So, Chip, Pete, and the entire Sawyer family, please accept this small gratuitous press release in your honor. For the Sawyer family's sacrifice, Chip's great success and for our illustrious President making the commitment to take off at the starting gate, just like American Pharaoh, setting up the NAELB's 2015/2016 year for sure success. Pete, I could not figure out how to get the Triple Crown metaphor in there, but I'll think of something by the end of your tenure.
Editor and Chef
* The first NAELb family duo was Bob Bell (circa) 1998* followed by his S.O.B. son Corey Bell (2012).
** I first heard that designation when Corey Bell (an S.O.B.) met my son, at Justin's first NAELB conference in 2006. Justin went on to rock n roll the world, (Steel Train which morphed into the band Fun.) and Corey went on to become president of the NAELB. Nine years later, Justin is a minister of music at a rocking cool church called REZ in Kansas City, and Corey is rocking the trucking industry.
Corey Bell Bob Bell Clive Cussler
The Certified Lease & Finance Professional (CLFP) Foundation held its first Academy for Lease & Finance Professionals (ALFP) this May. The three-day event was hosted by Banc of California, and ten individuals successfully passed the CLFP exam. They are as follows:
- Déva Brooks, CLFP - Vice President, Leasing Sales Officer, First American Equipment Finance
- Paul Burnham, CLFP - President, El Dorado Commercial Finance LLC
- Austin Kingsley, CLFP - National Account Manager, Allegiant Partners, Inc.
- Jakeb Klein, CLFP - National Account Manager, Allegiant Partners, Inc.
- Steve Lewis, CLFP - Vice President, Baycap
- Ryan Makris, CLFP - Sales Manager, Allegiant Partners, Inc.
- Mark Rodeghiero, CLFP - Owner, Source Finance
- Jim Schreder, CLFP - Executive Director, Danjon Capital, Inc.
- Steven Ward, CLFP - Credit Manager, Providence Capital Funding
- Brandon Ware, CLFP - Lease Accounting Manager, Banc of California
Allegiant Partners, Inc. now employs eleven CLFPs and two CLFP Associates, and Ryan Makris, CLFP explained, "Since coming on with Allegiant in 2011, the expectation was always set that I would one day pursue a CLFP designation. I've been very lucky to work with an organization that fosters learning at such a high level. For me, obtaining the CLFP designation represents the commitment to further develop one's depth of knowledge in the industry."
The CLFP designation identifies an individual as a knowledgeable professional to employers, clients, customers, and peers in the equipment finance industry. There are currently 241 Certified Lease & Finance Professionals and Associates throughout the world. For more information, call Executive Director Reid Raykovich, CLFP at (206) 535-6281 or visit www.CLFPfoundation.org.
STORY FROM THE LEASING VAULT
Destin Is Our Destiny
by Sheri Bancroft*
Daughter of a leasing legend
Once long ago, in a time period called "the 80s," a leasing veteran decided to give his wife a break and take their two 'tween daughters to the beach. The wife didn't like the beach but liked (probably really loved) the idea of having the kids out of her hair for a few days, so it was agreed upon that he would take his two daughters away on a vacay.
The car ride was arduous. The girls insisted on blaring music that was not his usual easy listening tunes, and they giggled, howled, and played "I Spy" for hours on end. But after 8 hours, they finally arrived. Destin, Florida!
If he had had a head of hair, it most certainly would have been pulled out by now. But alas, he was bald, so all was good.
The girls rose at the crack of dawn the next day and jumped up and down on their father's bed, letting him know, it was time to go look for seashells. Several hours and hundreds of shells later, the father decided it was time for a nap.
So he carried 50 pounds of shells back to the hotel room while his daughters set-up their towels to rest upon while on the beach.
As the sun traveled from the east to the west, it took a nice chunk of time to beat-down on the sleeping girls, for they had fallen asleep while trying to get the best summer tan ever.
The older daughter awoke and found her legs and back crisp and tan, the younger daughter awoke to find her face burned and swollen.
"You look like a chipmunk," the older sister exclaimed.
Hours later after a trip to the ER, it was discovered the younger daughter's face had suffered a second-degree burn.
Needless to say, the trip to the beach was cut short.
When the leasing vet and his daughters arrived back home, his wife greeted them with a bottle of Coppertone with a high SPF in her hand.
"Charlie, did you forget something?" she asked.
A very important lesson was learned: Never forget the sunscreen!
*Sheri is a D.O.B. (daughter of a broker) along with her sister, Julie.
A STRIKE STRIKES
Used-Truck Financing 101
As I talk to some others out there who may not finance a lot of trucks, they are frequently trying to get them approved with a half-baked package of info. With a brand new truck, some things are cut and dry about the truck but with an older, used one, it's important to get the following:
- How's your credit? What is age, make, and model of the truck?
- What is mileage and specs on the truck including VIN #?
- Condition report may be required by some lenders.
- Is it coming from a private party or a dealer?
- If the truck is coming from a dealer? Get a buyers order or invoice (or the truck may be sold already anyhow).
- If there is other equipment on the truck (bucket, roll off frame, packer, etc.) get the age, make and model of the equipment also. Serial # should be included on the invoice or buyers order.
- How long has the biz been around?
- How long has the Owner/Operator had his CDL?
- How long has the Owner/Operator been on his own?
- How many other trucks does he or the company also have?
- Does he, she, or they have money to put down on the truck?
- How did you get the deal?
All of the above is not necessarily required by all lenders at submittal time, but info that will be useful in coming to an intelligent credit decision. The additional info just gives the lender a better broad picture of your customer and why they should feel comfortable in approving them for you.
Sometimes, we just get in such a big hurry in the excitement of getting a new deal that we forget the above basics that should be gleaned in a "let's get to know each other a little" conversation with the customer. It's easy to forget about that when we get the deal from a dealer, but it can save everybody time if we can talk to them before we submit the application to a lender.
FEATURE: What Makes the Top Salespeople the Top Salespeople
What Makes the Top Salespeople the Top Salespeople?
by John Chapin
While the answer to this question might seem obvious, the top sales success traits aren't always that simple. In over 27 years in the industry, I've seen lots of great salespeople and all of them always have the following eight traits.
The Top Eight Sales Success Traits
Success Trait #1: Laser focus on what's important.
No matter what's going on with the economy, in the industry, or in the world in general, top salespeople always hit their numbers. They always manage to make the calls, and ultimately, the sales that they need to make. This comes from the realization that, as a salesperson, only one thing counts: how much you sell.
Top salespeople know that, no matter what, they simply have to do the necessary prospecting, presenting, and closing, and they are committed to get them done regardless of what's going on around them. As a result, they always sell more than anyone else in good times and in bad. Changes in price, competition, rules and regulations, and other factors that sidetrack other salespeople, never seem to affect them.
They also don't get bogged down in other peripheral items such as: research, having the "perfect" call, paperwork, or other items that keep them from talking to prospects and selling.
Success Trait #2: Work ethic.
Top salespeople are the hardest working people around, and they do the work necessary for success. They also work smart, but when it comes to making phone calls, knocking on doors, and doing the other grunt work, they don't look for short cuts or the easy way out, they simply do it.
They show up before everyone, work after everyone, and they get more accomplished than everyone else. They answer their phone before and after business, hours and they are super responsive. If they are in the twilight of their career, they may not put in the hours and work as hard as they once did, but when building the business initially, no one outworked them. Also, when they have to, they are still willing to do what needs to be done.
Success Trait #3: An ability to act in spite of fear and step out of their comfort zone.
Salespeople can become awfully creative when it comes to staying in their comfort zone and avoiding that which they fear. In 27 years, I've heard some of the most ridiculous excuses as to why people can't make calls, can't close the deal, and ultimately, can't or won't do what's necessary for success. I've heard excuses related to pets, kids, religion, health, politics, and other concerns that are so ridiculous, if I gave an example, you'd think I made it up. Top salespeople on the other hand, step out of their comfort zone and face and overcome fear every single day. They make the call they are afraid to make, try the crazy idea that might embarrass them but just might work, and they do whatever it takes to be successful regardless of how scared they are. In short, they simply do what needs to be done regardless of their fear or discomfort.
Success Trait #4: Having integrity and character.
While you can have some short-term success in sales without either of these, long-term success is impossible without both. Integrity and character involve being honest with people and truly caring about them. With integrity and character, you will not make a sale unless it is right for both parties involved. You will also always do what's right for the person you're selling to even if that means sending them to the competition. Granted, you shouldn't have to do that too often, and if you do, you are selling the wrong product or are with the wrong company. That said, you need to be willing to do what's right regardless of the situation or circumstance. Knowing that, at the end of the day, all you have is your reputation.
Success Trait #5: A focus on people and relationships.
Related to the above, your focus needs to be on people and long-term relationships. At the end of the day, unless you're selling batteries at Walmart, the most important element in the sale is the relationship. This also means you need to be staying in touch with people and continually developing and strengthening relationships. At the end of the day, your long-term success will come down to the loyalty and size of your network.
Success Trait #6: Preparation.
Top salespeople are always well-prepared. They have great answers to questions, objections, and all other items that might come up during a prospect interaction. They are continually upgrading their skills and developing themselves personally and professionally. They constantly get better at selling, communication, and understanding other people.
Success Trait #7: Confidence.
Top salespeople have complete and total belief in themselves, their product, and their company. Top salespeople truly believe that others must have their product, and they believe that their customers' lives are much improved as a result of owning their product. Top salespeople know that the first sale is to yourself. You have to have complete belief and conviction in yourself and your product before you can sell anyone else.
Success Trait #8: Accepting 100% responsibility for success or failure.
Top salespeople take 100% responsibility for everything in their lives. They realize that success in all areas of their lives is up to them and not determined by outside factors such as the economy, the market, or other people. Everything starts and stops with them.
John Chapin is a sales and motivational speaker and trainer. For his free newsletter, or if you would like him to speak at your next event, goto:www.completeselling.com<http://www.completeselling.com> John has over 27 years of sales experience as a number one sales rep and is the author of the 2010 sales book of the year: Sales Encyclopedia.
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Published and artistic works by NAELB Folks:
Secret Tips and Tricks of a Powerful Memory
Pre-release announcement: Perpetual - Abducted ,
Book 2 in the series, late this summer!
If you are a member of the NAELB and have published or artistic work available for sale - please contact a member of the Leasing Logic or LL Snippets editorial staff.
Have fun in the sun and be sure to eat ice cream...to stay cool!
See you next month!
Brought to you by
the NAELB staff of Leasing Logic.
To join the LL Snippets and Leasing Logicwriting team contact firstname.lastname@example.org and/or Sheri Bancroft -- Cheers!
The "B's" have overcome the "K's". Where are you, the "d,e,f and g's?" Send us your ideas for articles and thanks to all of you, the b's, k's and o's, for your contributions to Leasing Logic and Snippets.
baskerville, blecha, bonanno, brown, buckles
Send your answer to email@example.com to win a pair of flip flops.(1)
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More About Your LL Snippets
LL Snippets is your association's Saturday Morning Post of stories, pictures, and other oddments (Google it), designed to keep you and your NAELB family up to date on leasing life and life in the leasing space.
"I appreciate this opportunity to report on the front lines of the leasing industry," Snip said. "Even if it requires flip flops to get the job done."
|The Sun Never Sets When YOU are COOL.
We hope that LL Snippets provides you with a smidgen of what is important abounding within the NAELB family and their families. We'll see you on Saturday mornings with lots more fun reading for you and yours, replete with fulfilling anecdotes.
Send a Snippet idea for a column, story, or feature, pictures, cartoons or even poems, to any one of the staffers or contributing writers listed to the right.
That's my Snip,
Enjoy your summer,
The Editor and Chef