How Bill Roden built a successful career in the construction equipment industry by serving customers with honesty and expertise
We had the opportunity this week to sit down with Bill Roden, Vice President at Triumph Commercial Finance. Bill’s experience in the construction equipment industry is deep – his career spans not only the finance side of equipment, but he’s also worked at equipment auction companies such as IronPlanet and Equify Auctions. Additionally, Bill is a Master Certified Machinery and Equipment Appraiser and a Business Certified Appraiser (you can learn more about that here).
1. How did you get started in the construction equipment industry?
Answer: Well, it was a fluke, really. My first commercial finance job was working for GE on general equipment loans. But it wasn’t until I was recruited to work at Associates that I got my first taste of yellow iron. I was (and still am) amazed by the sheer size and ability of the equipment. It’s amazing that a piece of dirt can be transformed into a mine or shopping center. I always marvel at construction equipment working together at creating something that would last for a long time.
2. If someone were to ask you about entering the construction finance industry, what advice would you give them?
Answer: The business of a contractor is unique. The value of the business is very dependent on the value of the equipment – both the book or depreciated value, and the actual value – which can be different numbers. And this can provide a lot of financial leverage for a contractor who knows this – in fact, Triumph has a product that takes this into account called the Contractor Revolver. So advice that I would give, first, is that it is imperative to understand the uniqueness of your customer and their business plan and how it operates.
Second, personal relationships with decision makers make a difference. Being absolutely honest with your customers and bringing value beyond the price of your service or product is important. If a contractor knows that you understand his business, then he’ll know that you’ll be able to understand him as he goes through business cycles.
3. What is the future of the construction equipment business?
Answer: The business is becoming a lot more efficient. Online marketplaces and the Amazons of the world are adding more transparency to the industry – which is great for the customer.
Bill Roden, Vice President at Triumph Commercial Finance, is a great asset to any of our customers interested in talking to someone very knowledgeable about construction equipment and finance.
He’s got the industry expertise, the technical knowledge and the friendly, positive attitude to get the job done. You can find him on his LinkedIn Page at https://www.linkedin.com/in/billroden1/, email him at broden@triumphcf.com, or call him at 214-770-6264.