All Economics Is Local – Including Equipment Sales

”All Politics is Local”… this quote, attributed to Tip O’Neill, counsels politicians whose scope and focus begins to expand far beyond their own constituency, to return to the true source of their success. The same is true for our own equipment sales businesses. So while the Dow Jones Industrial Average continues its climb to 18,000 and large investors are celebrating a record year for earnings, many small businesses continue to feel locked in the miasma of 2008. So – why the discontinuity? How can there be so much divergence between global metrics and local performance? Shouldn’t we be able to expect some sort of alignment between our own success and the progress of broader scale metrics?Well, no.

You Can Create Success

Our own personal economies are determined, overwhelmingly, by our own efforts. And while the analysts were bemoaning the destruction of the Greek Economy in 2009, there were literally hundreds-of-thousands of business owners in the US that had their best year ever. They were simply doing more to create success for their customers, and in so doing, were able to grow their local economies to record levels. 

As a financier to over 11,000 vendors and brokers across industries like Automotive Maintenance Equipment, Fitness Equipment, Restaurant Supply and Specialty Graphics, we’re in the very fortunate position to see this kind of success every day. By providing a financial service that enables our vendors to sell their solutions to more customers, we have very visible evidence of their success as we track their volume of transactions funded year over year.

Consistent across those successful vendors, is their absolute focus on the customer – understanding needs, aligning solutions to directly address them, maintaining a competitive stance in the delivery of their services and solutions, and above all, making it easy to say “YES”to their customers.

How TimePayment Can Help

For our part, we do everything we can to keep our vendors in a position to keep their businesses growing.

Our broad range of transaction sizes supported ($500 – $100,000), complete credit support, and instantaneous credit decisions on transactions <$10,000, provides incomparable support to our vendors’ sales efforts, enabling them to close transactions with the 1 in 5 customers that benefit from financing to complete their purchase.

As we close 2014, many businesses’ we work with are doing better than ever, and we’re extraordinarily happy about the success that they and our mutual customers have enjoyed. Together, our local economies are doing pretty well. But we know that this success will only continue for as long as we keep working together with our vendors to deliver the solutions that best address their needs, and the needs of our mutual customers.

We look forward to continued economic success in 2015 as we continue to grow and expand our efforts to deliver more and better solutions for equipment vendors and buyers.

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