In its lead story, the Wall Street Journal reported today that corporation cash hoarding has hit its highest level in half a century. According to a Federal Reserve report issued yesterday, cash accounted for 7.4% of the total assets of nonfinancial companies operating in the U.S. at the end of the second quarter – the largest share since 1959.
In a post-financial crisis economy, you will need a big hammer to break open this bulging corporate piggy bank. Sales people who possess above-average financial acumen skills will thrive in this environment of cash hoarding and project return scrubbing. They are in the best position to sell the financial value of their solutions. Those who don’t have financial skills will be relegated to the small ticket transaction class of business.