Monthly Archives: January 2014

Staged funding is not a requirement, part 1

By providing consumer finance through contractors, we offer services to both the consumer purchasing a home improvement and a contractor selling and installing that home improvement.  We take this three-party relationship seriously and feel we have obligations to both contractors and consumers.  Sometimes the obligation requires a balancing act.  Finding the middle ground between what […]

Salesperson incentives and promotional financing

In the last few years, the percentage of contractors relying on promotional finance options seems to have increased significantly.  We haven’t done a study, but we recall the good ol’ days when promotional options were exactly that: promotional (and infrequent).  However, times were difficult during the recession and sales were hard to come by.  This […]

2013 Recap: Home Improvements with the Highest ROI

The ability to project accurate, substantiated ROI for a customer is important for a contractor to earn their trust and business. It also allows contractors to target specific products and markets for their high return on investment. When a customer is considering spending a significant amount of money on a home improvement project, they want […]

Constructive Tension

One of my favorite elements of the Medallion Bank work culture is the concept of “constructive tension”.  Constructive tension is about designing the organizational structure in order to regularly have employees pulling against each other.  At first blush, this sounds counter-intuitive.  Isn’t that like having two oarsmen in a boat pulling in opposite directions? To […]

4 Steps to Get Started with Social Media

The future of business is social. Like it or not, Google has become your new business card. Online marketing and social media provide an opportunity that may vary from your current business plan, which can be uncomfortable. While it’s difficult to get started with a social media strategy for your business, it may be a […]

The Pros and Cons of Business Blogging

To some, businesses shouldn’t be blogging. It’s a waste of time, just like social media and other online marketing ventures. To others (like us), it’s a fantastic way to reach out to your audience and connect with them. As with most marketing decisions, there are pros and cons. It’s up to you to determine if […]

When did lying become a sign of sophistication?

I’m always late to the party, it seems.  In this case, my tardiness has given me extra time to think of how to frame these thoughts.  You see, a business and economics blogger for Slate has become a public advocate for dishonesty.  He has invented a fake child so he can take advantage of Amazon’s discounts for moms.  He does […]