You’ll make more $$$ as an advisor than you will as a “deal doer”

Brokers are in a unique and important position to add value to small business owners. But these days we are seeing a few too many brokers glossing over what might be the most important aspect of their interactions—being an advisor. Here are a few key recommendations to strengthen your role:

Play one position, not all of them.

There may be aspects of guiding a customer you are wildly comfortable with, and others not so much. That’s ok. For example, you may be able to advise a small business on the value of leasing or the dealer on the need to offer financing, but when a tough credit pops up, guiding them through a refi of equipment to pull working capital following a bankruptcy may not be your cup of tea. Maybe you have never underwritten credits like that. Or underwritten anything at all. Again, that’s OK. Part of being an advisor is guiding your customer to the right place to get help, not to be the one that does all the helping all the time. After all, no one can be a quarterback and wide receiver at the same time. So use your funders to help you in a circumstance like this


It’s easy to chase the faster commission. We get it. But easiest and right may not live in the same neighborhood. You may have a 690 CBR, collateral with a CAT logo, 20 years TIB and even some money down with a customer that’s not too rate sensitive. Slam dunk right? Well…ok…but what if you spent time with them only to find out that this is part of a larger equipment need he is spreading over the next year because she is worried about access to finance? You might help her understand that the revenue opportunity massively outweighs interest rate and he could get more revenue now by looking at a bigger deal.

The Challenging Credit?

No space is more important to be an advisor than with credits that don’t fit the application only world. Tough personal credit, business financial issues, etc. need an advisor to guide them and not just for a deal. They need someone who can bring an out-of-the-box solution, when the walls of the box are caving in. And you can be that strategic advisor that helps them. Think of the loyalty and the long term place you earn in the equipment finance needs.

At Dakota we help Brokers position themselves to easily work through challenging credits by leveraging the value of the customer’s assets. Others come and go, but Dakota has been here…doing our thing…and helping customers when they need help the most for years. Let’s talk.