Future Focus

ELFA is rolling out a new strategic plan that will guide the association’s activities and priorities over the next five to seven years

The equipment finance industry is undergoing change constantly. As we reported at the ELFA Annual Convention in Orlando, ELFA is committed to making sure we’re looking ahead to help our members thrive and succeed. That’s what our new long range strategic plan is all about.

Earlier this year, ELFA asked McKinley Advisors, a consulting firm that focuses exclusively on organizations like ours, to lead our Board and staff through the development of a new long-range strategic plan. To do that, McKinley conducted qualitative interviews with a number of leaders in ELFA member companies. They then performed an exhaustive member survey, building on those interviews. 

Here’s the good news: McKinley found that 9 out of 10 members think ELFA is delivering value, and you’re very satisfied with our value proposition. So, it’s terrific that you’re happy now. But, we want to make sure that continues, that the association remains relevant and valuable to you in the future and that we continue to listen to and respond to your needs. 

Over the past six months, McKinley took the information they gathered and analyzed it against the backdrop of current and developing trends in our economy and environment. They also conducted a strategic planning session at our August Executive Committee meeting and solicited input from a Board of Directors Strategic Planning Work Group.

At the October Board meeting, with McKinley’s help, our Board members and staff put the finishing touches on a new long-range strategic plan that will serve as a roadmap for where our association is going over a five-to-seven-year period. The new plan specifies strategic goals in five key areas:

Advocacy - Advance the legislative and policy interests of our members and the industry.

Business Intelligence - Deliver data-informed insights that contribute to members’ success.

Industry Awareness and Impact - Raise awareness about this critical and evolving industry as an essential economic driver.

Member Engagement - Meet the needs of members at every career stage and member organization.

Training & Education - Create and deliver outstanding and timely content for all members.

We are excited about the goals and outcomes outlined in the plan, and we think you will be, too. For example, we will continue to set the industry standard for top-rated education, training and leadership development resources for smaller organizations and new hires, as well as for larger companies and all levels of ELFA professionals, from early- to mid-career to the C-suite. We will continue to find ways to improve our legislative and regulatory monitoring and communication to ensure that our voice is heard. We will promote and advance diversity, equity and inclusion in every area of our work. And we will work to help you identify and implement technology solutions critical to advancing your business objectives. 

And that’s not all. Stay tuned for more information as we implement the new plan. To view the plan in full, go to www.elfaonline.org/StrategicPlan.