the newsletter of northeast equipment dealers association ... · 4/4/2019 · nys legislature and...

NEDA Salutes our Supporting Advertisers. It is our pleasure to list the names of those advertisers who support NE Dealer each month. We trust their advertisement will be remembered when goods and services are required by you, our dealer members. It is good to do business with companies who are interested in doing business with you and your industry association.

APRIL 2019 • Vol. 21, No. 240

wwwne-equip.com

The Newsletter of NorTheasT equipmeNT Dealers associaTioN, iNc.

Northeast

DealerDealers Beware!

Dealer will be liable on trade-in with liens Many dealers, knowingly or unknowingly, accept trade-ins from customers that are subject to a bank lien. When we talk about liens, we are not only referring to specific liens on the trade-in, but also the silent, but deadly, blan-ket lien that a customer gave the bank to secure an operating line of credit. Fortunately, in most cases, the customer does not default on his loan and the bank does not have motivation to seek out a dealer that has the bank’s col-lateral. However, if a customer does default on his loan, a dealer will get an unwelcome surprise when the dealer becomes the subject of a lawsuit and faces potential damages equal to the value of the trade-in. In addition, if the customer is in bankruptcy, the dealer will not even have any recourse against the customer. Read balance of article / Talk to your sales people and under-stand what can, will and has happened to dealers at: http://unitededa.com/fastfacts/1887.htm --- Industry News and Information for March 26, 2019.

~ Courtesy of United Equipment Dealers AssociationIN THIS ISSUE:3 Obxervations From The Field4 New Member, Association News6 Manufacturing Deal Expands Tractor Line7 HR Happenings8 The Rise of Robotic Mowers10 Assessment Details Impact of Pests and

Pathogens on World’s Major Food Crops12 15 Mistakes That Are Hurting Your

Equipment Sales14 Four Keys to Massive Sales Success16 How Mobile is Changing Service20 Primer on Valuations | Part 3 of 4

ADVERTISERS:2 Haylor, Freyer & Coon 5 AgDirect / Farm Credit System7 Specialty Equipment Insurance Sales11 Lancaster Farming13 HBK CPAs & Consultants15 Fastline Media Group15 OPOC.US24 Federated Insurance

Express Consumer Warranty on Farm Equipment in New York State This is a reminder to New York State Farm Equipment Dealers. On April 1, 2006 the “Express Consumer Warranty on Farm Equipment” (NYS Farm Equipment Lemon Law) bill was passed by both houses of the NYS Legislature and was signed by Governor Pataki. To read a summary of this bill click here to read more on the NYS Farm Equipment Lemon Law.

https://www.ne-equip.org/members/state-laws/new-york/

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3APRIL 2019

NEDA Board of DirectorsOfficers

JOhn e. KOMArisKY, PresidentMain & Pinckney Equipment Inc. / Auburn, NY315-253-6269 - FAX 315-253-5110New Holland, Simplicity, Brillion, Bush Hog [email protected]

nATe shATTUcK, 1st Vice President / TreasurerDevon Lane Farm Supply, Inc. / Belchertown, MA413-323-6336 • Fax: 413-323-5080Yanmar, Landini, Monosem, Ferris, Simplicity, Stihl, [email protected]

crAig hOUseKnechT, 2nd Vice President EDA & UEDA/NEDA OPE Council MemberMoffett Turf Equipment (MTE) / West Henrietta, NY585-334-0100 • Fax: [email protected], Mahindra, Ventrac, Smithco, Turfco, Redexim, Golf Lift, Lely, Ryan, RedMax

rOBerT sPOhn, Immediate Past PresidentSharon Springs Garage / Sharon Springs, NY518-284-2346 • Fax: 518-284-2774AGCO, White, Hesston, Gehl, Kubota, Allis, [email protected]

rALPh gAiss, CEO and Executive Vice Pres.800-932-0607, Ext. 222 • Fax: [email protected]

DirecTOrsJOsh AheArn, Past President 2016Ahearn Equipment, Inc. / Spencer, MA508-885-7085 • Fax: 508-885-7261Kubota, Cub Cadet, Stihl, NAPA [email protected]

scOTT BAirMountain View Equipment, Inc. / Plattsburgh, NY518-561-3682 • Fax: 518-561-3724John Deere AG/CCE, Claas, Kuhn Knight, Kverneland, Stihl, Husqvarna, Frontier, Servis, [email protected]

BriAn cArPenTer, Past President 2009Champlain Valley Equipment / Middlebury, VT802-388-4967 • Fax: 802-388-9656New Holland, Case IH, Kubota, [email protected]

BrAD hersheYHoober, Inc. / Mifflintown, PA717-436-6100 • Fax: 717-463-2312Case IH, JCB, [email protected]

eD hines, Past President 2014, 2001Hines Equipment / Cresson, PA814-886-4183 • Fax: 814-886-8872Case IH, Gehl, New Idea, Cub [email protected] BrYAn MessicKMessick’s Farm Equip./ Elizabethtown, Pa. 717-361-4836 • Fax: 717-367-1319New Holland, Kubota, Krone [email protected]

scOT L. sTAnTOn, Past President - 2003Stanton Equipment Inc. / East Windsor, CT860-623-8296 • Fax: 860-627-9832John Deere Ag., Knight, Athens, [email protected]

WenDeLL WALLDrOff, Past President - 2002Walldroff Farm Equip., Inc. / Watertown, NY315-788-1115 • Fax: 315-782-4852New Holland, Hesston, Woods, White-New Idea, AGCO, [email protected]

Last month, John Komarisky and I attended the EDA/INEDA Fly-in in D.C. FarWest and several other regional associations also participated and, although I was pleased to see so many dealers participating, I would have liked to see many of you there as well. To put it bluntly, if we made the com-mitment and followed through, our association and members could have a real and meaningful impact on profitability and, our customer’s and our region’s prospects. Work-force development, transportation, trade, USDA policy and infrastructure investments (to include broadband) were all featured discussion issues and made for what I thought were very pro-ductive legislative visits. It is important that the “inside the beltway” crowd understand your concerns and challenges and that

you (their constituents) gain an understanding and insight into how the legislative process works in our capital. Understanding who is advocating/lobbying legisla-tors and the potential impacts suggested changes will have on your dealerships, customers and employees enables you to both plan and have an impact on what polices/laws/regulations are adopted. Federal policy and regulation have a direct impact on your dealerships profitability! When we actively engage with legisla-tors and their staff, they are more likely to enact legislation and develop policies in support of your dealerships, customers and employees – everyone wins! When we chose not to engage – everyone loses. We continue working to amend the dealer laws in our region and are making good progress in Connecticut where our bill continues to move forward thanks to the testimony and support of our member dealers. In addition to state dealer laws, we have joined with EDA (Equipment Dealers Association) and AEM (Association of Equipment Manufacturers) and are continuing to work in opposition to Right-to-Repair legislation in Massachusetts, New Hampshire, Vermont, New Jersey and New York. Please let me know if you have any questions. You should have already received information/talking points from NEDA regarding these bills. It goes with-out saying that the more voices we have, the more successful we will be! While I’m talking about the fly-in and our legislative advocacy work, I would like to offer a huge thank you to those dealers who contributed to our legislative fund. Legislative work is expensive and annual dues simply do not cover the “investment(s)”! We have made great progress but have a long way to go towards our goal of $20,000 for 2019!

“When we work together as an Equipment Dealer Association, we speak in a unified voice. Togetherwe can achieve what individuals could not; the ability to attain our mutual goals.”

Observationsfrom the FIELD

Tim WentzField Director /

Legislative Committee Chairman

717.576.6794

The general information provided in this publication is not intended to be nor should it be treated as tax, legal, investment, accounting, or other professional advice. Before making any decision or taking any action, you should consult a qualified professional advisor who has been provided with all pertinent facts relevant to your situation. This publication is designed to provide accurate and authoritative information in regard to the subject matter co v ered. It is furnished with the understanding that the Northeast Equipment Dealers Association, Inc., the publisher, is not engaged in rendering legal, accounting or other professional service. Changes in the law duly render the information in this publication invalid. Legal or other expert advice should be obtained from a competent professional. Some of the editorial material is copyrighted and may be reproduced only when permission is obtained from the publisher and the association.

ASSOCIATIONNEWS

Alone we can do so little ...together we can accomplish

great things!

www.ne-equip.com

4 | Northeast DealerAPRIL 2019

Association's Legislative AdvocacyThe impact (value) of the association’s legislative advocacy, work-force

development, and Industry Relations work can easily be over-looked. Our efforts cannot be accomplished without significant financial investment, support, and grassroots participation. If we’re to continue that work, we are going to need your help participating in and financially supporting our legislative work, association gover-nance/direction, and program development. We need your help recruiting new members, participating in legislative visits, giving testimony, contributing financially to the legal/legisla-tive fund, association governance/direction, and program development!

When you REAP the benefits of membership, your PROFITS will follow!

MAKE ADONATION

Click Here

NEW MEMBERNEW DEALER MEMBER

RJS OutDOOR POWER INc.Principal: Bob Jennings460 New Ludlow Rd. • Chicopee MA 01020413-437-8660 • [email protected]

Please Join Us In Welcoming Our New Member To Neda.

EDA partners with OPOC.us for health insurance The Equipment Dealers Association (EDA) announced its selection of OPOC.us to assist EDA members and participating regions with their health insurance and otheremployee benefits needs. OPOC.us optimizes health insurance coverage to provide cost savings to both employer and employee, which includes their unique Care Center support. EDA has now joined regional associations United Equipment Dealers Association, Midwest-Southeastern Equipment Dealers Association and the Northeast Equipment Dealers Association, that already endorse OPOC.us.

~ EDA Equipment News

Undergraduate Students Engage With Latino Farmworker Community Through Course - February 7, 2019 Because of significant labor shortages, Pennsylvania’s dairy farms rely on Spanish-speaking immigrants as a key source of labor. However, cultural differences and lan-guage barriers can leave employers and workers lost in translation. A new, innovative community service-learning course — “Service-Learning with Pennsylvania Farmworkers” — offered by Penn State’s College of Agricultural Sciences is aimed at breaking down those barriers. - Read More, Click here

~ Courtesy of Penn State University, https://agsci.psu.edu/news

https://news.psu.edu/story/557977/2019/02/07/academics/undergraduate-students-engage-latino-farmworker-community-through

AgDirect is an equipment financing program offered by participating Farm Credit System Institutions.

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Dan AbrahamsonCT, ME, MA, NH, NJ, NY, RI, VT(607) 765-6271

10192-K5_Dealer_GreatFinancing.indd 1 3/27/18 2:53 PM

ASSOCIATIONNEWS

Alone we can do so little ...together we can accomplish

great things!

www.ne-equip.com


The 2019 Guides are now available.Click on the guide(s) you want to order and send back to our office either email [email protected] or fax at 315-451-3548.

NEW SIBLINGS? Kubota has announced that it will develop new higher-horsepower tractors with Buhler Industries. That means the M7 shown here will soon be getting some big brothers. Details are sparse, expect news with the official launch this fall.

Manufacturing Deal Expands Tractor Line Kubota and Buhler, owner of Versatile, announce agreement for new higher-horsepower machines. Kubota Corporation has been expanding in the farm equip-ment market in recent years. It’s purchases of Kverneland and Great Plains shows a commitment for greater market share. Ironically, some have observed that the current Kubota tractor line doesn’t feature a model large enough to pull some of that new equipment. Come this fall, that will change. To read more, Click here.

https://www.farmprogress.com/equipment/manufacturing-deal-expands-tractor-line?NL=FP-004_NEW&Issue=FP-004_NEW_20190314_FP-004_NEW_161&sfvc4enews=42&cl=article_1_b&utm_rid=CPG02000002016547&utm_campaign=36866&utm_medium=email&elq2=5f7b5358b5ed4a758b4d5e45b1726fa5

https://www.ne-equip.org/wp-content/uploads/2016/01/Farm-Equipment-Guide.pdf

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HR Happenings: These Federal and State Trends May Prompt Handbook Updates in 2019 By now, many businesses have updated their employee handbooks to reflect 2018 changes and new laws that took effect Jan. 1. But keeping policies and practices up-to-date is a continuous process. Here are some key issues that employers should monitor in 2019 that may prompt additional revisions to the handbook. Employers should keep a close eye on administrative actions by various agencies, such as the Department of Labor (DOL), National Labor Relations Board (NLRB), Equal Employment Opportunity Commission and Occupational Safety and Health Administration. Agencies “often take the lead in pushing the administration’s agenda [by rulemaking] when doing so through legislation proves difficult. But “more activity on the state and local level will almost certainly have the biggest impact in 2019.”Employers should expect to see more state family-leave requirements, state and local sick-leave laws, accommodations laws, policies arising out of the #MeToo movement and continued marijuana legalization. “All of these will continue to impact policies and procedures as 2019 unfolds.” Federal Law - The DOL is expected to soon propose a new overtime rule that will raise the salary threshold for the Fair Labor Standards Act’s white-collar exemptions from overtime pay.

Click here - to read more. ~ Courtesy of PennAg Weekly Update 2-25-19

http://www.pennag.com/Insurance.aspx


The rise ofroboTic mowers With the growing popularity of “connected” or “smart” homes, homeowners are looking at the benefits of autonomous/robotic mowing. However, it is not just homeowners identifying the potential for robotic mowers. Faced with increasing labor shortages, landscape industry professionals are now examining how robotic mowers might fit within their menu of services. “Automation is not new. But automation in mowing is becoming the newest disruptor in the green industry,” said Elisha Lipscomb, senior marketing strategist, lawn and garden, at Honda (manufacturer of Miimo robotic mowers). Lipscomb added that while Miimo is primar-ily for residential use, Honda is seeing more homeowners and landscapers adopting robotic mowing. “This can be the next life-changing technology. You are no longer tied to your house on the weekend. It makes your life easier,” she said. “Businesses can reallocate resources – espe-cially with the labor issues going on right now in the landscape industry. The need to have multiple crews is reduced. Crews are working smarter, not harder” According to Steven Uljua, product manager for robotics at Husqvarna (manufacturer of the Automower line of robotic mowers), at GIE+EXPO three years ago, robotic mower manu-facturers who suggested robotics as part of the landscape business model were laughed at by landscape professionals. Two years ago at the show, landscapers blamed robotic mowers for taking business away from the landscape contractor.

The role of the dealer “With our dealers, and dealers in general, they are buying into the technology but it is new,” said Lipscomb. “There is always a period with new technology and automation. That’s where we are at with robotics right now.”

“We are spending a lot of time getting to dealers and saying, ‘This is the future,’” he said. “This technology is not going away,” he added. “Big companies are investing millions of dollars. You can get on that train early or sit back and someone else would be the one. You want to be the guy associated with robotics in your area. Be that player, and be that guy who embraces the future. Use robotics to bring in a new customer base.”

See balance of article click here

~ Courtesy of and written by John KmittaJohn is associate publisher and editor of Outdoor Power Equipment magazine

KeepiNGup

wiThTechNoloGY?

OPEI/Harris Poll survey finds mis-fueling of power equipment is on the rise in Daily News March 6, 2019

A new study commissioned by the Outdoor Power Equipment Institute (OPEI) and conducted online by The Harris Poll among more than 2,000 U.S. adults, shows that for the sixth year in a row consumer confusion reigns supreme at the gas pump due to changes in the fuels marketplace, especially when it comes to fueling outdoor power equipment, boats, snowmobiles, personal transport vehicles, golf cars and other small engine products. More than 3 in 5 Americans (61%), assume that any gas sold at gas stations is not only safe for their cars, but also for these products, and this jumps to 69% among adults ages 45-54. The reality is “higher ethanol blends, like E15, E30, and E85, are illegal to use in most outdoor power equipment and can damage or destroy it, and invalidate manufacturer’s warranties in many cases,” said Kris Kiser, president and CEO of OPEI. Among those who own outdoor power equipment, less than half (42%) pay attention to the type of fuel they use. More than 1 in 10 outdoor power equipment owners are fueling incorrectly and roughly 3 in 5 may be doing so as well:

• 12%admittousingfuelwithhigherthanrecommendedethanol(E15/E30/E50/E85)fortheiroutdoorpowerequipment(upfrom7%in2015)• 58%don’tpayattentiontoorarenotatallsureaboutwhatfueltheyuse.See balance of article click here

~ Courtesy of OPEI, Outdoor Power Equipment Institute

https://outdoorpowerequipment.com/2019/03/06/the-rise-of-robotic-mowers/12914/?ajs_uid=1805F6460378E6V&oly_enc_id=1805F6460378E6V&ajs_trait_oebid=7900E2474689B3Q

https://outdoorpowerequipment.com/2019/03/06/opei-harris-poll-survey-finds-mis-fueling-of-power-equipment-is-on-the-rise/12909/?ajs_uid=1805F6460378E6V&oly_enc_id=1805F6460378E6V&ajs_trait_oebid=7900E2474689B3Q

A QUICK REFERENCE GUIDE

for serial numbers, specifications and pricing information on

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Assessment Details Impact of Pests and Pathogens On World’s Major Food Crops

Penn State researcher, studied the effect of pestsand pathogens on wheat, rice, maize, soybean and potato

UNIVERSITY PARK, PA — Pests and diseases are taking a substantial bite out of the world’s five major food crops — in some cases, up to 40 percent — according to a recently released publication, one of the first to inventory the impact on a global scale. “Declining crop health affects everyone — farmers, consumers and communities — by reducing food supplies, driving up costs, and sometimes even causing the misuse of pesticides and herbicides,” said Paul Esker, assistant professor of epidemiology and field crop pathology in Penn State’s College of Agricultural Sciences. “This is a crucial problem at a time when food production must be increased to sustain a growing global population, one that is predicted to exceed 9 billion people by 2050,” Esker added. To bridge this information gap, Esker, a faculty member in the college’s Department of Plant Pathology and Environmental Microbiology, in 2016 collaborated with an inter-national team of crop-health scientists to begin a “deep dive” into the effect of pests and pathogens on wheat, rice, maize, soybean and potato — crops that together represent about half of the calories consumed by humans. Joining Esker on the study were Serge Savary and Laetitia Willocquet, French National Institute for Agricultural Research, Toulouse, France; Neil McRoberts, University of California, Davis; Sarah Pethybridge, epidemiologist, Cornell University; and Andy Nelson, University of Twente, The Netherlands. The International Society for Plant Pathology, the participating universities and North Carolina State University, which hosted the inaugural meeting of the research group, supported this work. To read the entire article click here

Courtesy of College of Agricultural Sciences, 3-4-2019, Amy Duke, [email protected] - Work Phone: (814) 865-6616

An international team

of crop-health scien-

tists, including a Penn

State researcher, stud-

ied the effect of pests

and pathogens on

wheat, rice, maize,

soybean and potato

The impact (value) of the association’s legislative advocacy, work-force develop-ment, and Industry Relations work can easily be overlooked. Our efforts cannot be accomplished without significant financial investment, support, and grassroots par-ticipation. If we’re to continue that work, we are going to need your help participating in and financially supporting our legisla-tive work, association governance/direction, and program devel-opment. We need your help recruiting new members, participat-ing in legislative visits, giving testimony, contributing financially to the legal/legislative fund, association governance/direction, and program development!

When you REAP the benefits of membership, your PROFITS will follow! Call Ralph Gaiss at 800-932-0607 for questions and support.

https://news.psu.edu/story/561088/2019/02/26/research/assessment-details-impact-pests-and-pathogens-world%E2%80%99s-major-food?utm_source=newswire&utm_

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15 Mistakes That Are Hurting Your Equipment Sales Most of us are our own worst enemy. We do things (or fail to do things) that sabotage our sales efforts. Take a look at this list and give yourself an honest appraisal. How many of these common mistakes have you made lately? This article is condensed, please see bottom of article whereby the entire article is written, did not have enough space here. 1. Not greeting prospects properly Too many salespeople still greet prospects who walk into the dealership by asking some variation of “Can I help you?” Of course, the answer is almost always “No.” (Although that’s not as bad as the salesperson I encountered once while mystery shopping who walked right past me and, without breaking stride, said, “You didn’t need any help, did you?”) 2. Pre-judging prospects Just because a person is wearing ratty jeans and an old T-shirt doesn’t mean they can’t afford a new top-of-the-line mower or UTV. Or that the company they own doesn’t have the budget for a half dozen new mowers. 3. Not asking enough questions Whenever I interview salespeople, they always assure me that they ask their prospects a lot of questions. And then when I observe them in action, they invariably ask two or three questions at most before launching into a spiel about whichever item their prospect happens to be standing next to. When I train sales teams, I arm them with 20 to 49 questions, such as: •What’sthebiggestchallengeyou’rehavingwithyouryardrightnow? •What’smostimportanttoyouina(chainsaw,mower,trimmer,generator,etc.)? •Howmuchusewillitget? •Areyouworkingwithinabudget? •Whatmattersmosttoyouinadealership? 4. Ignoring women This is one of the biggest complaints of female buyers. Ironically enough, even female salespeople frequently commit this mistake. 5. Not knowing the competition well enough How do the brands you carry stack up against the competition? What are their relative strengths and weaknesses? What, specifically, makes your chain saws, hedge trimmers, and leaf blowers better? 6. Confusing features with benefits This is a common mistake not merely among salespeople, but among marketing profes-sionals as well. 7. Failing to listen Too many salespeople are so busy spewing all the features they’ve memorized, they don’t make any effort to actually listen to their prospects. When prospects aren’t listened to, they feel that the salesperson doesn’t really care about them. 8. Using clichés Because everybody uses them with such frequency, words such as “quality,” “perfor-mance” and “service” no longer have meaning by themselves. Ditto for phrases such as “customer satisfaction” and “best value for the money.” 9. Talking down to prospects A triumph of ego over good sense. Prospects don’t like salespeople who come across as arrogant. 10. Fumbling objections Often, when salespeople encounter an objection, they freak out, believing they’ve just lost the sale. In their panic, they fail to address the objection effectively. Or they dismiss the

continued on page 18

www.ne-equip.com

How many of these common mistakes have

you madelately?

Northeast Dealer | 13APRIL 2019

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[email protected] HAYLOR, FREYER & cOON, INc. (continued) Physical Damage Insurance (HF&C, Inc.), Rental / Leasing EquipmentPatrick Burns at 800-289-1501, Ext. 2148 [email protected]•www.haylor.com

Workers' Comp (Return Dividend Program for NY Dealers only) Property & Casualty Insurance for VT Patrick Burns at 800-289-1501, Ext. 2148 [email protected]•www.haylor.com

LEGAL ASSIStANcE – FREE LIMItED Dave Shay at 816-421-4460Fax:816-474-3447•[email protected]

OSHA WORKPLAcE SAFEtY cOMPLIANcE PROGRAMDave close at 1-800-932-0607 Ext. 235 [email protected]

DEKRA INSIGHtcERtIFIED SPcc PLANDave close at 800-932-0607 x 235Robb Roesch at 800-888-9596 x [email protected]

SPEcIALtY EQuIPMENt EXTENDED WARRANtY PROGRAMNew and used Equipment Erik SanzottC. 312-758-9421 O. [email protected]@amyntagroup.com

ASSOcIAtION StAFFRalph Gaiss, Executive VP/CEO800-932-0607 x [email protected]

Dave close, Operations Manager800-932-0607 x [email protected]

Kelli Neider, Administrative Assistant800-932-0607 x [email protected] (Business Forms)

tim Wentz, Field Director / Legislative Committee ChairmanC: 717-576-6794, H: [email protected]

Scott Grigor, NY Farm Show Manager800-932-0607, Ext. [email protected]

Art Smith, Consultant/Editor, NE Dealer717-258-8476, F: [email protected]

AccOuNtING SERVIcESHBK, CPA's & ConsultantsRex A. collins, cPA (IN), cVA PrincipalDirect: (317) [email protected] • www.hbkcpa.com

cHARtER SOFtWARE BuSINESS SYStEMSMelissa Amen303-932-6875 - Ext. [email protected]

For Service / SPoNSoreD ProGrAMS,cAll Your ASSociAtioN

800-932-0607 • 315-457-0314 • Fax: 315-451-3548 • www.ne-equip.com

[email protected] | 317-886-1624 | hbkcpa.com

HBK is a multidisciplinary financial services firm, offering a wide range of tax, accounting, audit, business advisory, valuation, financial planning, wealth management and support services

to improve the performance and effectiveness of businesses and personal financial well-being.

Working together sets us apart.

together


Key #1: Simplicity The formula for success in sales really is simple. It comes down to talking to enough of the right people the right way. That means talking to plenty of qualified prospects and having the skills necessary to find a problem, solve the problem, and getting them to take action on the solution. Where people complicate the issue is when they start looking for the shortcuts, the simpler, easier way. There isn’t one. Hiding behind social media, e-mail, and reactive marketing will never take the place of in-person calls and phone calls. Set your annual, monthly, and weekly goals, and then calculate your daily activity (how many people you need to talk to). From there, practice and prepare for all sales situations and scenarios. Finally, get out there and make the contacts necessary. As a salesperson, producer, agent, or whatever you call yourself, your first job is to sell. Everything else is just a distraction. Simple.

Key #2: Innovation Innovation is all about value and standing out from the rest of the pack. How do you deliver more, how are you better, and how are you different in a good way? Just as important, how can you deliver more, how can you be better, and how can you be different in a good way? Where are you, your company, and your product truly unique and how can you further adapt, change, improve, and stand out (deliver more value)? Of course this begins with you. You are the one thing the competition does not have. If you are willing to out-service, out-work, and out-relationship the competition, you will stand out. How can you personally deliver more value? It can start with handwritten thank-you notes and gifts to let people know they are appreciated. It can include adding products and services, or augment-ing them. You can also add hours of operation, be more responsive, or add features such as home delivery. You’re looking for anything that enhances and improves the client experience. Innovation also means not resting on your laurels and realizing that what has made you suc-cessful thus far, may not be what makes you successful in the future. This is challenging the old rule of “If it isn’t broken, don’t fix it”, by improving further on what already works. It’s refusing to say, “This is the way we’ve always done it” and “That’s good enough.” It’s asking questions like, “How can we bring something completely new to the industry?” “How can we turn the standard way of doing business on its ear?” “How can we reinvent the wheel and make it better?” Bottom line: what can you do to further standout and deliver more value?

Key #3: Passion Successful people at the highest levels are the most passionate about what they are doing. For many, their work is not work, it’s love, and they’d do it for free. Passion is all about the personal WHY. It is the deep-rooted reason you work crazy hours, persist through failure after failure, and keep getting up no matter how many times you get knocked down. Ideally that pas-sion comes from helping clients, a strong belief that people want and need your product, and enthusiasm about the personal life that sales allows you to live. For most people, the personal why is the strongest. This usually includes either proving something to yourself and others, acquiring money and possessions that give you feelings of fulfillment and help you reach your highest life values such as freedom, helping and contributing to the important people in your life such as your kids, parents, and friends, or a combination of all three. Whatever your passion is, it is the fuel that will drive you and keep you going. If strong enough, it will get you up early, keep you up late, and give you tons of energy. In order to find it you have to ask yourself what’s important to you in life. What will you fight for or die for? What are your most important values? What do you care most about? Key #4: Execution This is all about taking action. Getting out there and doing what needs to be done. Nike. “Just do it.” Once you know what you want to do and why you’re doing it, put a quick plan together and take action on it. Don’t make it a big complicated plan, again, think simple. Then execute on the plan as soon as possible. Don’t worry about it being perfect either. Just take ac-tion and then course correct as you go.

John Chapin is a motivational sales speaker and trainer. For his free newsletter, go to: www.completeselling.com John has over 29 years of sales experience as a number one sales rep and is the author of the 2010 sales book of the year: Sales Encyclopedia. - The largest sales book on the planet (678 pages). - 508-243-7359 - 24/7 - [email protected] - www.completeselling.com.

by John Chapin

Four Keys to

Massive Sales

Success


Connect with the right audience of buyers across multiple platforms with behavioral, demographic and social targeting.

Contact us for more information.

(800) 626-6409FastlineMediaGroup.com

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ATTENTION NEDA MEMBERS:

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How Mobile is Changing Service Mobile is one of the biggest changes to the equipment dealer’s industry to date. From increasing management productivity to improving employee and customer sat-isfaction, mobile has become a simple fix for some of the industry’s most pertinent issues. Are you using this technology to its fullest potential?

A Full-Service Experience for Customers With mobile technology, communication is organized and simplified for everyone involved. Employees can call, text, or email clients all from one screen. They’ll can quickly view and get directions to the customer’s location without any additional back and forth, keeping client interactions focused and productive. Alongside these tools are CRM features for keeping track of all communications as well as notes and invoice history. Members of your team now have easy access to every pertinent detail of the project so you can be confident they are able to deliver the best possible service.

Simplify Accounting to Make Sure You’re Being Paid Thanks to the convenience of mobile, invoicing customers is painless. You can create, edit, and send invoices on-the-go for quicker onboarding. You’ll also be able to track who has paid or who is in danger of being late and shoot them a friendly reminder to make sure things stay on track. Since cash flow is one of the biggest con-cerns facing small businesses, make sure you’re taking control of your assets with this proactive approach.

Keep Your Team Connected Technicians working on site shouldn’t be left in the dark about what’s going on back at the office. With mobile, your entire team can access the most up-to-date in-formation available in real time. They can log customer interactions by taking notes or using a voice-to-text feature. They’ll also appreciate having the ability to clock in, check parts inventory, upload images, collect payment, and more right from their phone. Empowering your employees is key to keeping them satisfied and productive.Knowing how to leverage mobile technology is now a required skill for the equipment dealer’s industry. Choose a business management software that offers these robust mobile features and much, much more.

~ Courtesy of Director of Sales, Charter Software, 303-932-6875chartersoftware.com

By James Stoneham

How the Wayfair Ruling Weighs Down Drop Shippers:What You Need to Know

By Cassandra Baubie, JD

This document provides a guide on how drop shipping relationships have changed following the new tax laws and regulations after the decision in South Dakota v. Wayfair. Drop shipping is a fundamental aspect of the supply chain and represents two separate and distinct transactions. The seller accepts orders from their customers, invoices the customers and receives a shipping address. That shipping address can be in a state in which the seller has a presence or any other state that the seller is not located in. The seller then places an order with the supplier to fulfill the customer’s order who will ship that product directly to the shipping address provided. The supplier never invoices or deals directly with the customer; they engage in a sale solely with the seller. Click here to read the full article.

~ Courtesy of HBK CPAs & Consultants

http://www.hbkcpa.com/wp-content/uploads/2019/03/TAG-Drop-Shipping_FINAL.pdf


IF YOU APPRAISE, EVALUATE, REPAIR, IDENTIFY, OR OWN HEAVY CONSTRUCTION EQUIPMENT, THIS GUIDE IS YOUR SOUCE TO THOUSANDS OF PRIKCES, SERIAL

NUMBERS, SPECIFICATIONS, AND ON OVER 200 MANUFACTURERS.

SPECIFICATIONS: Know important information for accurate evaluations, repair or model comparison.SERIAL NUMBERS: Knowing the actual year of equipment is pertinent to making accurate evaluations and good buying decisions.PRICING: Knowing what machinery is worth is important when running a business... guide contains Average Resale Value, Loan Value and Actual Auction Listings.TYPE OF EQUIPMENT: Backhoes, Compactors, Compact Track Loaders, Crawler Loaders, Crawler Tractors, Excavators, Motor Graders, Off Road Haulers, Paving Equipment, Scrapers, Skid Steer Loaders, Trenchers, Wheel Dozers, Wheel Loaders, Wheel Tractors.


SPECIAL PRICE FOR DEALERS!PLEASE SEND ME _______ copies of the CONSTRUCTION EQUIPMENT GUIDE AT THE SPECIAL PRICE OF___ Print ___ Online ___ Both - add $50.00 more

(Regularly $159.95)

Company Name _______________________________________________________________Type of Business ______________________________________________________________Name _______________________________________________________________________Address ______________________________________________________________________City _______________________________________ State __________Zip _______________Phone ( _____) _______________________________E-mail ___________________________


$140.00 plus tax and postage

PRICES SUBJECT TO CHANGE(please include 3 digit CV Code)


maKiNG forms & suppliesaVailable & afforDable

Your Association offers you... Business Forms, Stationery, Envelopes Com-puter Invoices, Statements, Checks, Sales Tickets Work, Repair and Purchase

Orders, Federal and State Labor Law Posters We’re here for your form and Supply needs,

PLEASE CALL TODAY!

NeDa ... P 800-932-0607 | F 315-451-3548

15 Mistakes continued from page 12

objection, hoping the prospect will think it’s insignificant. Either way, that often leads to losing the sale.

11. Cutting priceToo many salespeople cut the price of their equipment needlessly. They believe

price is the most important issue, so the only way to make the sale is to beat every-body else’s price.

12. Not attempting to closeEvery manager at every dealership I have ever talked with has said the same

thing: The number-one challenge their salespeople have is asking for the sale. Most salespeople are so uncomfortable with closing, they hope their prospect will simply ask to buy the item.

13. Trying to close too soonThe few salespeople who do routinely ask for the sale frequently do it too soon.

Many salespeople are taught to “Always Be Closing.” But trying to close before the prospect is ready to buy leads to rejection.

14. Pressuring prospectsNobody likes being pressured, but an awful lot of salespeople do it anyway.

The fear of losing the sale is so great, they feel compelled to apply pressure to their prospects so they won’t “get away.”

15. Forgetting to follow upOften, prospects don’t buy on their first visit to a dealership, which means fol-

low-up is crucial for ensuring the prospect returns. Yet many salespeople neglect to follow up, forgoing an opportunity to build a stronger relationship with prospects.

What to do If you’re guilty of making one or more of these mistakes, don’t beat yourself up too much. After all, they’re extremely common, so you have a lot of company. But do make a concerted effort to correct them, because they’re interfering with your sales success. This is very condensed, click here to read the complete article.(Courtesy of: Outdoor Power Equipment - March 14, 2019 - in Featured Articles March 13, 2019 - Find loads of sales tips on The Sales Heretic blog at DonCooper.com and on Twitter at @DonCooper.

TRAIN YOURTRAINER

Forklift OperatorSafety Training

&Certification

Coursesrequired every three years

If you do not have a certified trainerat your dealership

or have mistakenly let

your certifications lapse ...

NEDACAN HELP!

If you do not have a certified trainerat your dealership

or have mistakenly let

your certifications lapse ...

NEDACAN HELP!

NEDA staff provides one forklift safety training

& certification course at your dealership

for all staff personnel authorized to operate

your forklift(s)[must be over 18 years of age or older]

$400.00Plus Expenses

for on-site trainingTraining Materials Included

Prices Subject to Change

If you would liketo schedule a

CERTIFICATION/RECERTIFICATION

Call Kelli or Daveat the Association,

800-932-0607

https://outdoorpowerequipment.com/2019/03/13/15-mistakes-that-are-hurting-your-equipment-sales/12931/?ajs_uid=1805F6460378E6V&oly_enc_id=1805F6460378E6V&ajs_trait_oebid=7900E2474689B3Q

Your Association is involved and successful in amending state specific dealers laws. We speak with many of your state legislators on a one to one basis. We also track all bills affecting equipment dealers.

NEDA works with EDA and other affiliate associations across North America to work with equipment manu-facturers, distributors, and other suppliers to address new Manufacturer Dealer Agreements including other industry topics to help resolve dealer issues.

NEDA members receive special pricing on trade-in guides for agricultural, construction, outdoor power equipment and power sports as well as Flat Rate Time Guide for Agricultural Tractors and Combines and the Outdoor Power Equipment Online Flat Rate Time Guide.

Your Association’s recommended providers offer the best business insurance and workers compensation insurance along with OSHA consulting programs.

Your Association maintains relationships with various attorneys and consultants to help members address employment, labor law issues, dealer contract issues, customer relations, OSHA compliance, workplace safety issues, environmental issues, etc.

Annual Cost of Doing Business Survey along with the Wages and Benefit Survey provide data which allow dealers to compare their dealership operating results with averages of other Northeast Dealerships includ-ing all dealerships in North America.

We represent Equipment dealers’ interest in the North-east Equipment Industry concerning Government Relations. Keeping you informed of issues affecting you is our primary responsibility.

NEDA along with National Equipment Register (NER) provides stolen equipment alerts that go out across North America to law enforcement and other equipment dealers.

Legislative Representation

Dealer-Manufacturer Relations

Trade-In and Flat Rate Guides

Business/Workers Comp Insurance & OSHA Compliance Services

NEDA, in partnership with opoc.us, provides equipment dealers and their employees with comprehensive, quality and affordable Healthcare. They will be your personal advocate on any healthcare questions.

Health Insurance

Legal Counsel Hotline

Cost of Doing Business, Wages Survey

Government Relations & Compliance

NEDA staff provides ONE (1) forklift safety training & certification course at your dealership for all staff per-sonnel operating your forklift(s). Eligible staff must be 18 years of age or older with valid driver’s license for certification.

Forklift Training – Train the Trainer

Stolen Equipment – Call us Immediately!

Specialty Protection Plan that helps protect eligible equipment beyond the Manufacturer’s Base Warranty Period. We are stronger than ever to support your equipment sales with extended service warranty contracts for your new and used equipment.

Extended Warranty Program

Annual regional meetings are conducted in various locations convenient to your dealership each year to interact with dealer principals and employees con-cerning various operational and marketing strategies relevant to your business.

Annual Regional Meetings

NEDA IS DESIGNED TO MEET YOUR BUSINESS NEEDS

NortheastEquipmentDealersAssociationEstablished 1901

Committed to Building The Best BusinessEnvironment for Northeast Equipment Dealers

AND MUCH MORE!!!

Let us prove that membership doesn’t cost . . . it pays!

Your link to the power equipment industry is NeDA!!!

What’s in it for me?PLENTY!!!

128 Metropolitan Park Drive | Liverpool, NY 13088 | phone 800.932.0607 | www.ne-equip.com

www.ne-equip.com

NEDA offers you forms and supplies specific to equip-ment dealers. Count on a wide selection, competitive pricing and great service! Please call us.

Business Forms and Supplies

Regulations continue to be a large burden like OSHA, Trucking,Health Mandates, Data Security/Privacy, Retail Financing, etc.

NEDA is here to help take the mystery of these burdens away from you,so you can continue to run your daily business operations.

November 2018


BY BART BASIBasi & Associates at The Center for Financial, Legal & Tax Planning, Inc., 4501 W. DeYoung St., Suite 200 •Marion, IL 62959, P: (618) 997-3436, www.taxplanning.com.

WHAT is a Valuation?

A business valuation is a report written by a qualified appraiser for purposes including business succession, estate and tax planning, litigation, buy-sell situations and other purposes.

Part 3 of 4

A Primer on Valuations:What, Who, When and How Recently, we discussed WHEN a valuation is necessary. This month, we lean back into valu-ations covering the HOW aspect.

HOW? As stated previously, a business valuation is a report written by a qualified appraiser for purposes including business succession, estate and tax planning, litigation, buy-sell situations and many other purposes which blend into each other. Given that purposes behind business valuations differ, methodologies also differ. Some methods are imposed by the Internal Revenue Code, others by common law, some by contractual agreement, and others by industry standard. Following is a brief discussion of different valuation methodologies.

Market Approach: Comparables Price The comparable price method operates under the assumption that there are other compa-nies comparable to the business being valued that are either publicly held or privately held that recently sold. The IRS suggests that when using this method, multiple comparable companies should be used. Once the comparables have been found, the net income, cash flow, EBITDA, and the Price/Earnings ratio can be used to compute a benchmark value. Individual company values can then be weighted and an industry benchmark can then be established.

Asset Approach: Adjusted Book Value This method, also referred to as the underlying asset value method, is especially useful in valuing holding companies versus operating companies. Investment houses and real estate com-panies are examples of holding companies. This method is also useful for liquidation purposes because it provides the “adjusted” asset value which relates to the fair market value of assets. It is also useful in valuing capital intensive businesses that rely on their asset base to perform work and generate income. An excellent example of this is a construction company. The company’s machinery is vital to their operations. This idea can be contrasted with a law practice whose income generating ability does not rest on physical assets of the firm but, rather, on personnel. The key to this method is to determine the fair market value of all useful assets versus the value as stated on the books of the company.

Earnings Approach: Capitalization of Earnings The consensus among appraisers is that the capitalization of earning power is “the most important single factor in the valuation of most operating companies, such as manufacturers, merchandisers, and companies providing various services.” At the end of the life of a company, the total worth of that company can be found in the ability it had to generate earnings. This method uses historical data to project future earnings. The method goes back through five years and projects the earnings potential into the future, using a growth rate, present value calculation, and expected earnings figures.

Present Value of Future Income Stream(Leverage Cash Flow Debt Method) A variation of the capitalization of earnings method is referred to as the “Leveraged Debt Concept.” This concept takes into consideration the fact that an outside party may leverage an acquisition of the current company and use all of the income to pay the interest on borrowed money. Currently the cash flow method is becoming more important in valuations as companies tend to “free cash”, I.e. earnings before interest, taxes, depreciation, and amortization (EBITDA).

continued on page 22


COMPACT TRACTOR

GUIDE

HOT LINE®

VOLUME XVII

2019

$34.95

A QUICK REFERENCE GUIDE

for serial numbers, specifications, and pricing information on

Compact Tractors and Riding Mowers.


SPECIAL PRICE FOR DEALERS!PLEASE SEND ME _______ COPIES OF THE COMPACT TRACTOR GUIDE AT THE SPECIAL PRICE OF





315-457-0314Fax: 315-451-3548

www.ne-equip.com



COMPACT TRACTOR GUIDEVOL. XVIICovering over 115 Manufacturers of Riding, Garden and Compact Tractors dating back thru 1990.

• 15 to 45 horsepower.• Specifications: Such as years

manufactured, fuel type, make of engine, horsepower, transmission, number of speeds, cubic inch displacement, cooling, blade clutch, steering, whether it has hydraulics, power take off, ROPS, type of hitch, weight.• Serial Numbers.• Estimated Ratail Pricing.• Manufacturers Suggested Retail Price.• Listings of Actual Auction Pricing.

PRICES SUBJECT TO CHANGE

A Primer on Valuationscontinued from page 20


Excess Earnings Capacity (Goodwill) This method is based on the theory that the value of a company is equal to the value of the net tangible assets plus the value of excess earnings (e.g.., goodwill, patents, trademarks, copyrights, etc.). Eight factors are typically considered when calculating goodwill: age of the company, employee turnover, the value of the suppliers and the products sold, market area, potential growth, inventory ef-ficiency, company location, and banking relationships. Excess earnings attributable to intangible assets are the foundation of the value of goodwill. Once this calculation is made, the result is added to the adjusted asset value as identified alone in the Asset Approach.

Net Income Residual Approach or Dividend Paying Capacity This method looks at the income that is left over for the stockholders as it relates to a company’s return on investment. Effectively, it can be referred to as the ability of the company to pay dividends to the stockholders using income that is not needed to operate the business in the future. Dividends are based on earnings after taxes as they relate to investment (stockholder’s equity) at the beginning of the year. Dividends represent the after-tax earnings that are distributed to the stockholder instead of being kept in retained earnings to help finance future projects. This is a key method to determining what an investor would pay for participating in the operations of a privately held company. If you have any questions about valuations or would like additional information on them or Succes-sion Plans, please contact the professionals.

I’m Still Here’: Moving ForwardAfter Farm Accident Doug Bichler says the outpouring of support after his farm accident was ‘humbling.’ Barely a tick in time. Not enough time to even form a thought. Just one reflexive movement. And suddenly Doug Bichler’s right arm was trapped in a baler. Realizing he would lose his arm, he fo-cused on survival. Doug Bichler became a farm accident statistic on June 26, 2017. Every day, an average of 243 agricultural workers suffer a serious lost-work-time injury. Five percent of those injuries result in perma-nent impairment, according to the National Ag Safety Database. Doug is the third generation on the Linton, N.D., ranch, which will become a century farm in 2020. The youngest of eight children, Doug launched his own seed stock operation in 2000 and started selling bulls the following year. By 2005, Bichler Simmentals had started a yearly production sale, held the second Tuesday of each February at the ranch. With 250 registered and commercial cows, the ranch uses AI and embryo transfer to build the herd’s genetics.

Then, the couple’s world tilted. “I was servicing the baler, getting ready to bale our first cutting of alfalfa,” Doug says. “I was cleaning some net wrap off the rollers and had the door locked open.” Then, after greasing the chains, Doug started the baler as the final chore for the night.

“I was on my way to turn the tractor off and go in for the night, and I saw a big piece of net wrap fall off one of the rollers and down onto one of the belts,” Doug says. “Before I even thought about what I was doing, I reached over to pull that piece of net wrap out of the baler. It sucked me in before I even realized what I had done. It was a very split-second thing and it was all over.”

Doug describes being unconscious for a time, then awaking to a new peril.“Our faith life has helped,” Doug says. “I taught farm safety,” Doug says. “It’s not like I don’t know what I’m doing. I wasn’t in a hurry.

I don’t feel like I was being careless. Those things happen so fast. You do not have time to give it a second thought. I’m telling everyone now, just don’t have anything running. If you must, make sure somebody else is there.”

Dart writes from Elgin, N.D. Click here to read complete article

~Article courtesy of American Agriculturist/Farm Progress

By Luann Dart,

Farm Progress,

American Agriculturist

https://www.farmprogress.com/safety/i-m-still-here-moving-forward-after-farm-accident


FarmEquipmEnt

GuidE

Hot Line®

If you deal with farm equipment, whether through appraisals, auctions, repairing, or as a dealer, get the source that gives you the

help you need when evaluating farm machinery...

This yearly subscription brings you:• Thousands of current auction results from around the U.S.• Over 6,000 current listings of equipment for sale, shown with the asking prices.

This annual blue book provides you the advantage of:• Serial numbers on equipment from the 1980’s to the brand new models out in 2018• Thousands of useful specifications.• Thousands of average auction prices, average asking prices, loan values and manufacturer suggested retail prices.• Option/Value tables help assess a more specific value based on certain factors of the equipment, such as: numbers of hours,

number of acres, ROPS, etc.• Tractors 46 HP+, Combines, Corn Heads, Grain Heads, Forage Harvesters, Land Rollers, Cotton Pickers & Strippers, Sprayers,

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small ones!PRICES SUBJECT TO CHANGE


SPECIAL PRICE FOR DEALERS!PLEASE SEND ME _______ SUBSCRIPTIONS OF THE QUICK REFERENCE GUIDE SPECIALLY PRICED AT___ Print ___ Online ___ Both - add $25.00 more





315-457-0314Fax: 315-451-3548

www.ne-equip.com



Ward’s 50® Top Performer A.M. Best® A+ (Superior) Rating

Federated Mutual Insurance Company and its subsidiaries*17.01 Ed. 11/17 *Not licensed in all states. © 2017 Federated Mutual Insurance Company

PEED

TTENTION

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DRIVESLOW DOWN.Your poor driving decisions could keep you and your

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Federated Mutual Insurance Company and its subsidiaries*19.03 Ed. 11/18 *Not licensed in all states. © 2018 Federated Mutual Insurance Company

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