“I have seen men on my baseball team go into slumps and never come out of them, and I have seen others snap right out and come back better than ever. I guess more players defeat themselves than are ever defeated by an opposing team. The first thing any man has to know is how to handle himself. Training counts. You can’t win any game unless you are ready to win.”
- Connie Mack, the longest serving manager in MLB history (holds the record for the most wins with over 1,000
more than any other manager)
In the future when we look back on the current recession there will probably be obvious winners and losers. When we have the benefit of historical perspective we will be better able to put this recession in context. From a technical definition standpoint this has been the worst US recession since the Great Depression – in hind sight it may end up being referred to as the “Great Recession”.
A recent survey of private economists concluded that the recession “will probably end in the fourth quarter, but there is uncertainty over the speed and duration of the economic recovery.” The survey says “debate now centers on the speed, strength and durability of the recovery.” Most people now agree that the worst of the downturn is behind us and the economy is now showing signs of recovery. As this shift in momentum occurs the US is increasing domestic manufacturing (less overseas outsourcing), goods production and worldwide exports. This development is expected to eventually trigger the largest financial recovery since 1936.
The earliest stage of an economic recovery is a critical time for the implementation and methodical execution of strategic long term plans. The right choices today will not only prepare your company for the rebound but will also likely put more distance between your business and your competitors. Now is the time for an unwavering focus on continuous improvement, technological transformation, and a consistent conservation of cash – these concepts will facilitate the leapfrogging of competition as specific markets, industries, and geographies come out of the recession.
The smartest business owners and executives are now turning to equipment leasing to advance their competitive position and capitalize on upcoming opportunities. A good leasing firm such as First Star Capital will propose smart financing solutions that allow companies to become more efficient through upgrades of technology and equipment while conserving cash and creating a predictable / manageable cost structure for the future. This type of foresight is paying immediate dividends as business owners are able to stay focused on continuous process improvement – this is the hallmark of competitive positioning. If your company is constantly getting faster and better at everything that it does, it becomes increasingly difficult and potentially impossible for a competitor to make any meaningful inroads.
2009 has been a challenging year for many business owners and financial executives. However, when the Great Recession comes to pass our historical perspective will be telling. The winners will be those companies that saw the recession as an opportunity to either establish a lead or to get even further ahead of their competition. It takes confidence and foresight to see that this is a perfect time to get rid of older equipment and less efficient technology. First Star Capital continues to help fuel those businesses that are determined to get ahead, stay ahead and win the recessionary challenge.
About First Star Capital
First Star Capital is an established national firm that has financed thousands of different businesses across the country and has funded hundreds of millions of dollars worth of capital equipment. We are an independent commercial lender with a specialty focus in equipment financing and leasing. First Star Capital is a direct lender with the ability to quickly and efficiently fund new financing requests between ten-thousand and ten-million dollars. Since we are a direct lender with our own funding and servicing capabilities we are able to deliver tangible value added financing solutions with the utmost flexibility. First Star Capital has the internal ability to underwrite a variety of different financing requests – nothing is too big or too complicated.
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Did You Know?
First Star has recently established a presence in Washington by adding three National Account Managers to solidify a presence in Seattle.
First Star is a sponsor for the upcoming NEFA (National Equipment Finance Association) Funding Symposium in Monterey (Sept 24th – 27th)
First Star Capital will be participating in the upcoming West Coast Green trade show in San Francisco Oct 1st – 3rd
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