In the United States alone, some $1.6 trillion will be spent on the moving parts that keep businesses afloat and operational. Given the sheer magnitude of this level of investment, it is clearly of great importance that business owners have access to all of the information, insight, and research they need to make profitable business equipment decisions with confidence.
However, up until fairly recently, the onus was on individual business owners to do their due diligence and try to demystify the sometimes cryptic data around business equipment costs, longevity, and impact. While this isolated approach may have been to the benefit of certain companies, there is far more mutual wealth and stability to be found – and opportunities to develop the industry – when truly insightful ideas are shared for the benefit of others to make good business decisions.
This need is what prompted Charles Anderson, CEO of Currency, to start the Commercial Equipment Marketplace Council known as theCEMC. Its founding members make up an executive community of leading corporate practitioners, the research firm, professors, capital providers, online equipment sellers, and industry leaders in equipment financing. The CEMC members came together last week for an offsite roundtable at Stanford University to work towards revolutionizing the industry.
There is an art in uncovering the right financing solution for any business. While some argue that flexibility is key to financing equipment across an array of industries, other financial leaders will tell you that the needs of any company are fairly similar. While there are clearly arguments to be made for personalized capital structures, and bundled turnkey solutions, the truth is that you cannot decide which suits your situation in isolation.
The ability to collaborate and interrogate trends, have debates with industry leaders, and network with informed individuals is just one advantage of membership to the CEMC. By working together in a formalized space it becomes simpler to make important decisions and drive the whole industry forward. By working together, the industry ecosystem wins in getting a bigger share of a bigger pie.
Next-generation Networking and Ideas
As much as business has moved into the digital space there is still a lot to be said for the trust and relationship that comes with old-fashioned face to face executive networking when it comes to collaborating on next generation ideas, forward thinking trends and vision.
The CEMC not only recognizes the challenges and importance of modern networking within the equipment financing sector but also delivers a solution. By creating a custom network among members, the platform has created a new network built on the old premise of connecting you to people who talk your language. However, as much as the network retains that old-world feel – there is something deeply reassuring about knowing that members have made the grade – the fact that this network lives online makes contacting people you trust easy and convenient.
You’re Never Too Old to Learn
The CEMC is different from other corporate organizations in a number of ways, but arguably the most impressive is the fact that they bring together for the first time in the industry an exclusive executive community in a structured thought leadership council that will not accept the status quo . Apart from making a variety of white papers and digital resources available to members, there are also summit meetings and industry think-tanks to make insights and trends tangible and useful in an authentic way. The Council has made mentorship from the very best not only possible but convenient.