What our team get up to outside the day job……
It would be amusing to disclose what our professional team is involved in outside the day job. Second up is John Laycock, one of our Commercial Finance Consultants.
John joined our team in 2023 after 46 years working on the front line for various finance providers covering Banking, Invoice Finance, Asset Finance, Trade/Supplier Finance, Litigation Funding and Property / Development Finance.
Outside of the day job, John follows many sports, and as Leeds was born and bred, it is not surprising his football team is Leeds United.
In addition to spectating, he has tried his hand at various sports in the past, but with advancing years, 11 years ago, he decided to look for a pleasant leisurely pastime he could do sitting down. So began his love affair with Rowing.
John comments – well, you do it sitting down, but it is far from easy, although it does give you a great chance to remove yourself from the day-to-day issues and on a lovely summer day, there is nothing better than spending time on the river in a big eight boat.
Can you draw any analogy between Rowing and Commercial Finance?
Well, John thinks we can, citing the following to prove his point: –
Teamwork and Coordination:
In rowing, each team member must perfectly synchronise their movements to propel the boat forward efficiently. Similarly, effective teamwork and coordination are essential in commercial finance, whether it’s Commercial finance advisors or the lending committee. Each member needs to understand their role and work together harmoniously to achieve the desired financial outcomes for the clients.
Direction and Strategy:
Just as a coxswain in rowing directs the team’s strategy and keeps them on course, in commercial finance, advisors play a crucial role in setting the direction and plan to approach lenders. They must analyse market conditions, assess risks, and guide clients towards the most beneficial financial outcomes.
Timing and Pace:
In rowing, timing is everything. The team must exert the right amount of energy at the right moments to maintain momentum without burning out too quickly. Similarly, in commercial finance, timing is critical. Whether it’s entering a market opportune moment, securing financing when interest rates are favourable, or making investment decisions at the right juncture, timing can significantly impact financial success.
Endurance and Persistence:
Rowing requires endurance and persistence. It’s not just about a single stroke but about maintaining effort throughout the race. Likewise, in commercial finance, success often requires persistence in the face of challenges and credit committees. Whether navigating economic downturns, overcoming setbacks, or persevering through lengthy deal negotiations, endurance is key to achieving long-term financial goals.
Adaptability to Conditions:
Rowers must adapt to changing water conditions, wind patterns, and the strategies of competing teams. Similarly, in commercial finance, adaptability is crucial. Markets fluctuate, regulations evolve, and unexpected events can impact financial landscapes. Adapting strategies or adjusting propositions in response to changing conditions is essential for success.
By embracing the principles of teamwork, strategy, timing, endurance, and adaptability inherent in rowing, those involved in commercial finance and Sterling Commercial Finance can navigate the complexities of the financial world more effectively and efficiently.
