10 Key Habits of Successful Entrepreneurs
Personal Practices that will Put You on Top of Your Game
Success comes from within. Studies on entrepreneurship have found remarkable similarities among those that thrive. So, what makes the difference between a mediocre entrepreneur and successful one?
Relentless Learning
“Change is the end result of all true learning.” – Leo Buscaglia, author and teacher
Forbes magazine lists avid reading as a leading characteristic of successful entrepreneurs. Why? Because they are aware of their own limitations. Like the old saying goes, “You don’t know what you don’t know”. Entrepreneurs that succeed do so because they put effort into personal growth and education. Greater understanding gives you a competitive advantage. Read journals, read books, listen to podcasts. Attend seminars and stay up to date with the latest industry trends. Consistent learning puts you in the right place at the right time—with the right idea.
How COVID-19 has Changed Equipment Leasing
Pandemic Life has Changed Equipment Leasing—Here’s What That Means for Your Business
It’s pretty clear by now that few areas of our lives escaped the reach of COVID-19. The good news? Change often brings new opportunities for those who are willing change along with it.
From the initial lease estimate to the final paperwork, equipment leasing has seen its share of changes. Companies are moving online and going digital, banks are cautious and our clients in all sectors are seeing shifts in their industries. If your business has seen changes over the last year, you know how important it is to stay nimble and look for ways to adjust with the times.
Equipment leasing is changing right along with you.
What is Equipment Leasing?
Answers to Your Questions About this Common Form of Business Financing
Equipment leasing is a financing agreement in which business equipment is purchased by a leasing company (lessor) and rented back to the business owner (lessee) for a prearranged length of time at a flat monthly fee. At the end of the lease term, the lessee may either buy out their lease for $10 or 10% determined at the start of the lease, trade up for a newer model, or close the lease by returning the equipment.
Tips for Selling Your Equipment Online
How to Make Your Classified Ad Attractive and Get Top Dollar for Your Used Equipment
Selling your business’s surplus equipment is a great way to cash in on the value of your assets. If your business is growing, selling your used equipment can help finance new ventures.
We live in an increasingly online world and the business of buying and selling is moving online with it.
Pick your online platform like Kijiji, Facebook Marketplace, Autotrader, Supply Post, etc… Hint: Facebook Marketplace has been working really great for us lately. Once you decide on a platform (or two) the next step is creating a convincing ad. The following tips will help you fine-tune your ad and make your equipment stand out from the competition.
7 Budget-Friendly Reasons to Lease Your Next Lift
How to Get the Right Equipment for the Job Without Breaking the Bank
Need another forklift for your warehouse? A telescopic boom lift for electrical maintenance? Ready to take on arborist contracts that require a good aerial lift? Business growth is a good thing, but new equipment always comes with a price tag.
If making large equipment purchases in cash is simply not an option for your small business, you owe it to your cash flow to look into the leasing option. Not all financing is created equal. With a lease you likely won’t need a down payment, the paperwork is simpler and quicker, you can arrange to make payments only when the equipment is working and you have flexibility to upgrade if necessary. If the goal is to own the equipment outright, you can opt for lease to own financing and streamline the purchase process. Let’s look at 7 ways leasing can help you get what you need.
4 Common Questions About Equipment Lease Rates
Answers to Your Equipment Leasing Rate Questions – No Head Scratching Required
If you’re in the market for a new equipment lease, you might be thinking about leasing rates.
- What’s a “good” rate?
- How do I find the best equipment lease rates for my situation with a minimum of hassle?
- Will my rate change over the course of the lease?
- How does equipment leasing compare to other forms of credit?
No one wants to spend a lot of time on financing, but as a business owner you’ve got to watch the bottom line. We get it. In this article we’ll go over the four questions above and help you map out your options and find the solution that’s right for your company.
What It Takes to Get Approved for Your Equipment Lease
The Basics Your Lender Will Want to See and How You Can Optimize for the Best Rates
Equipment leasing is a powerful business growth tool and is a lot more flexible than a traditional bank loan. Leases are easier to qualify for, offer more stress-free terms and can usually be obtained without a down payment.
Though the up-front costs to you may be minimal, they do represent a major investment for the lender. Your lender will be playing it safe, especially in this day and age, and looking for indicators that your business is a good credit risk.
Lease brokers have specific measures they look for in a lease application. Some of these are things you can optimize, like a strong business plan and a solid credit score. Some are factors out of your control, like the number of years you’ve been in business and your credit history.
Knowing beforehand what the lender wants to see is key to a successful application.
7 Common Fees and Hidden Costs in an Equipment Lease
Avoid Surprise Costs on Your Next Equipment Lease Before You Sign
Equipment leasing is designed to make expensive equipment affordable. Your lease will break down the purchase costs overtime and allow for minimal cash spending on the initial purchase.
Like any big transaction, you can expect some fees and costs associated with starting an equipment lease. Of course, not all fees are respectable or necessary. Protecting your cash from a bad deal is obviously important.
In this article, we’ll explain the 7 most common fees – which costs are legitimate and which costs are not.
Make Your Next New (or Used) Excavator Pay for Itself
How Lease to Own Financing Can Break the No-Cash = No-Contracts Cycle
Big tools are a big expense.
The costs associated with big ticket equipment like an excavator can be daunting. Sure, the right machine will mean new opportunities, new contracts and a better bottom line. But what if you simply don’t have the cash? Without cash you can’t get the equipment you need to make cash. It can be a frustrating cycle.
Don’t be a Target: How to Recognize Common Business Scam Tactics
Simple Steps Your Business Can Take to Outsmart Scammers and Avoid Being a Target for Fraud
An email from “the Financial Minister of Nigeria” may be easy to write off as a fraud, but not all scams are so obvious. Today’s scammers are clever and the money they steal is no joke. In 2019 alone, Canadians lost nearly $100 million to fraud.
The Canadian Anti-Fraud Centre lists over 16 types of scams that target businesses specifically. Your business may present a tempting target to scammers, but there are ways to minimize the risk.