August 2021 Edition

ARA Forecast Shows Improved Outlook for Equipment Rental Revenue and Investment

Infrastructure bill could give rental revenue an additional shot in the arm The outlook for equipment rental revenue, comprised of the construction/industrial and general tool segments, has improved over the last quarter. The updated second quarter forecast released by the American Rental Association (ARA) now calls for equipment rental revenue to exceed $47.8 billion in 2021, nearly a 3.5 percent increase over 2020 and greater than last quarter’s forecast that called for a 3.1 percent increase this year. Overall, the ARA forecast calls for a hefty 9.68 percent increase in revenue in 2022 to reach nearly $52.5 billion, surpassing the equipment rental industry’s previous peak revenue of nearly $51 billion in 2019. Growth is expected to be 3.9 percent in 2023, 2.4 percent in 2024 and 3.5 percent in 2025 to total $57.7 billion. READ FULL ARTICLE>>

Keeping Good Salespeople is Harder Than Finding Them

A dozen + ways to bring new energy and enthusiasm into your sales team. Print, read, and share this with your sales managerBy Jeffrey Gitomer Hiring a great salesperson is one thing. Keeping him or her on the team is another. Often the manager or boss is too busy scrutinizing and measuring the salesperson’s performance and ignoring their own part of the partnership – the part necessary to support, build and keep a great team. What are you doing to keep your salespeople? Here’s a list of 24.5 elements to build and grow a stellar sales team: READ FULL ARTICLE>>

What Is Your Personal Leadership Brand?

By Adam Bryant To help build authenticity, be clear on the specific values that have guided your career and that you expect others to embrace. Early on in our careers, we are schooled in the importance of the elevator pitch, so that we can deliver a concise answer if somebody important we meet in passing asks, “What are you working on?” or “What do you do here?” The succinct sales pitch is also an essential skill for entrepreneurs taking turns in front of an audience of investors: they have to be able to capture their killer idea in a dozen or so words. But in our consulting work with senior leaders, we find there is a specific type of elevator pitch that executives often overlook. It’s the answer to the questions “So what kind of leader are you?” and “What should we know about your leadership style?” Having a thoughtful reply at the ready could be a factor in landing a promotion. But more crucially, providing clarity about your leadership style will help you to build trust with your team. Think of it as your personal leadership brand—what you stand for, including the values that guide your behaviors as a leader, and what you expect from others. It’s not that people don’t have anything to say in response to these questions. Some will volunteer that they believe in “servant leadership,” or that they are results-driven or believe in excellence and integrity. READ FULL ARTICLE>>