Hope for the Best, Prepare for the Worst Featuring James Waite
Release Date: 11/23/2022
Mets Kramer: Breaking Down a Powerful New Tool for IEDA Members Only!
IEDA Podcast
For our final podcast episode of 2024, we welcome Mets Kramer to the mic! Mets is the mastermind behind the new IEDA app, and in this episode, he gives us an in-depth look at how this innovative tool will transform the IEDA membership directory into a powerful, user-friendly digital resource right at your fingertips. Tune in to discover where to download the app and how it empowers you to manage your company profile in real-time. Plus, find out how you can easily connect and communicate with other members with just a few clicks. Our conversation also takes a fascinating detour into key...
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Brad Spitzer: Rental and Used Sales Trends
IEDA Podcast
Much of Brad Spitzer’s expertise can be summed up with three R’s: Rouse, Rentals, and Real-Time Insights. Yet, there’s so much more to the Director of Client Services at Rouse Rental Insights. Brad, a dynamic voice in the industry and a featured speaker at the IEDA Midyear Meeting in Nashville, brings an unmatched perspective on market trends in used and rental construction equipment. In this episode, we explore Brad's deep dive into the drivers behind earthmoving equipment rental utilization, the latest trends shaping rental rates, and his forward-looking insights into where those rates...
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Milissa Wise: Mexico, Marines, and Machines
IEDA Podcast
Much of Milissa Wise’s life can be summed up with three M’s: Mexico, Marines, and Machines. Yet, there’s much more to the owner of , an IEDA member distributor. Milissa has built a strong, well-respected brand among resellers and end-users throughout Mexico, as well as Central and South America. With 600,000 Facebook followers, her equipment ads consistently receive “overwhelming” responses. In this episode, we explore her unconventional business model, her insights into her customer base, her journey into the equipment industry, and the lifestyle-friendly approach she chose,...
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Shawn Bonnington: Augmenting Your Customer’s Experience
IEDA Podcast
VizaLogix Augmented reality is an actual reality for construction equipment dealers today–no big ARglasses required. This could be the disruptive service your business needs to differentiate yourself from buyers and rental customers. A software called TethrIT Now from VizaLogix uses your customer’s cell phone (whether Apple or Android) to get immediate video access into a machine failure event, so your technician can either help your rental customer solve it remotely or know exactly what to bring for a field service call. Every interaction is recorded, timestamped, and archived. In this...
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John Andersen: The Dealer with the Most Data Wins
IEDA Podcast
Dealer software expert John Andersen has worked with equipment dealers for many years to become more efficient, savvy, and competitive. He does this by putting his deep knowledge of equipment distribution together with his great expertise in dealer management systems. And it’s an equation that is always a win-win for dealers. John’s 35 years of experience with PFW, ADP, e-Emphasys, CDK, and now as a consultant for DIS, puts him in a category of 1. For the next half hour, listen in as John and Kim identify dealer pain points and explore the key to remaining relevant through adopting...
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Luke Powers: Stayin’ Alive – The Customer Parts Predicament
IEDA Podcast
One fleet manager has estimated his company loses $112K every day a machine is down. If your customers had a theme song, it would be “Stayin' Alive,” because their No. 1 priority is keeping their iron running. To do so, they need parts–and fast. But besides speed, they also need an easier path to their dealer’s expertise and an overall better buying experience. Luke Powers, founder and CEO of , says contractors don’t want to shop online for the parts they need–they want and need the expertise of their local dealer, but they want faster access to you. Listen in as he...
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Sarah Martin: Midyear Industry Outlook
IEDA Podcast
Can data really help your business? You bet! Data is knowledge and it makes you more savvy and strategic about finding and seizing equipment sale and rental opportunities. Now that 2024 is at its midway point, it’s a good time to assess the market and get a good grasp on the big picture. In this episode, Sarah Martin, associate director of forecasting at Dodge Construction Network, unpacks the sectors that are flourishing and those that are slowing, and why. She discusses the two big wild cards that heavily influence construction, too. Martin explains how to understand and use the Dodge...
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Laurie Stogniew and Nick Riggs: Keep Your Website Fresh
IEDA Podcast
If you like to talk and sell, then digital marketing is right up your alley, and you probably didn’t even know it. This month, we welcome Laurie Stogniew and Nick Riggs from CONAG Marketing, a division of Bayshore Marketing, founded and owned by Stogniew. Although they give the used equipment sales industry a ranking of 5 or 6 on a scale of 1–10 for digital marketing, they’re optimistic that independent dealers are on an upward trajectory with ever-growing awareness and action toward reaching equipment buyers everywhere. Experts at developing and designing websites that search engines...
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Dan Maitland: What Fleet Managers Want From Dealers
IEDA Podcast
Here’s a conversation that reveals a whole demographic of potential customers for independent equipment dealers. Meet Dan Maitland, the fleet manager at Ajax Paving, located in Southwest Florida and a new board member at the Association of Equipment Management Professionals. He spoke on a customer panel at the IEDA Annual Meeting – if you missed him there, here’s your second chance to get acquainted. Dan manages a fleet of 600 pieces of equipment and oversees a team of technicians, as well as administrative and scheduling staff – a big job. Like his fellow AEMP members all over...
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Mike Marks: Why You Should Think About Buying, Selling, or Merging
IEDA Podcast
Some experts are predicting that the second half of 2024 through 2026 are going to be strong economic years. This month’s podcast guest, distribution expert Mike Marks, believes it could be an opportune time to expand through acquisition or merger, or to exit the business profitably, depending on your strategy. He also says there are great advantages available to the independent dealer on both sides of an M&A deal, and in this month’s interview he highlights the benefits to buyers and sellers. And none of it is as hard as you might think. He strongly recommends spending a couple...
info_outlineThe Fed has far from finished adjusting interest rates to slow the economy and stave off recession, but a downturn has already begun, says attorney James Waite, our guest on this thought-provoking episode. He may specialize in law, but he’s about to give your business a lesson in self-defense.
Waite’s practice in the Denver, Colorado, area is the premier resource for contractual law in the construction equipment industry, and during our interview he raises several strategic considerations that could protect you when customers begin to struggle financially or go bankrupt, which he expects will occur in a wave in 2023. What you don’t know about new laws, litigation, and liens could cost you entire pieces of equipment, so pull up a seat and listen in.
He’s also providing insight about Rental Purchase Options, underscoring benefits to both contractors and independent dealers during economic turmoil, as well as insight to make sure your RPO contracts protect you in the worst-case scenario.
Bottom line, as conditions decline overall and for the construction industry specifically, and people become more desperate in the coming quarters of ’23, new and unexpected ways of taking what’s yours or leaving you holding the bag will crop up. Right now is the time to plan and get your house in order, including all your business’s contracts.
James Waite Law: https://www.jameswaitelaw.com/
Facebook: https://www.facebook.com/TheWaiteLawFirm
Visit IEDA: https://www.iedagroup.com/