Thoughts on heading back to ITEX: We saw Michael lace up his Nikes19 Feb, 2014 By: Steve Sykes, S.E. Rentals
(Feb. 2014) To put things in perspective, down here in Australia, most of us had never really heard of Michael Jordan until the Chicago Bulls’ three-peat became world news. So we didn’t really know where he had taken his game to, or for that matter – the whole of basketball. Things had progressed and unless you were an avid basketball fan, you probably didn’t understand what the fuss was about.
It was a bit like that for my general manager Andrew Palmer and I as we ventured to Las Vegas for the ITEX conference in 2013. Unless you were there to see the anguish on faces when some tried to explain the difficulties of changing their sales model to accommodate a NOC, or the perils of getting outside of your competencies, or changing the sales pay plan, then you would not understand the passion and commitment required. Similarly, it was important to experience firsthand the understated pride of those who had transitioned to a “as a service” model, to see the way the new business model works, and why it does represent the future.
Last year we left Las Vegas knowing absolutely that things had, or were about, to change.
S.E. Rentals is a specialist equipment vendor financier, and we knew that we had to get ready for what was inevitable. Challenges abounded everywhere, but they all made good sense to us as we had seen the final results from the various equipment suppliers, exhibitors and financiers at ITEX 2013. Hence, in discussions with our panel of funders here in Australia, we have referenced the ITEX conference many many times to provide credibility to what we were saying and to get what we needed.
Mind you, the learning we took from ITEX is not new to all Aussies. Some of our counterparts are well down the track and are to be admired. For us, the good news is that we now know what they are trying to do and why. Knowledge is power!
It was a very nice feeling to listen to Leaf Commercial Capital’s CEO Crit De Ment at the Australian Equipment Lessors Association’s annual conference in November 2013 as he spoke about the future and urging his contemporaries in Australia to embrace change – to become more customer-centric. It was nice because those qualities have always been in S.E. Rentals’ DNA, and now we know for sure that these qualities will be the currency of the future.
We know all this because we went to ITEX in 2013 – we saw Michael lace up his Nikes and go out there and do things not heard of before.
We will be back again this year. If you get a moment, come and say g’day and I’ll buy you a beer!
Steve Sykes is Managing Director, S.E. Rentals. S.E. Rentals specialises in vendor equipment finance. We help quality Australian equipment vendors make more sales by providing world class point of sale finance solutions for their customers. You're invited to follow @SE_Rentals on Twitter and join the discussion in our LinkedIn group. The team blogs about vendor equipment finance issues at Visible Thoughts.