how to manage your business in 30 minutes per month
TRANSCRIPT
Educate, Train, Certify and Lead
Mo GuerreroPartner Support Manager
MSP University
The largest online business improvement and transformation resource for IT solution and managed services providers that wish to increase their efficiencies, effectiveness and net profits
Areas We Focus On
• Marketing– Lead generation, branding and awareness
• Sales – Increasing sales velocity and effectiveness
• Service Delivery– Improving efficiencies and customer satisfaction
• Operations– Leadership, financial acumen, talent management
and vendor relationships
How We Deliver Training
• Online through our training portal– Hundreds of Live and on-demand Webcasts– Best-selling books and audiobooks– Thousands of best practices guides, documents,
calculators, tools and collateral– Online Peer Groups
• Live at our 3 Day Boot Camps– Marketing, Sales, Service Delivery, Operations and special
tracks such as Healthcare IT, Cloud, Security and more• Direct via embedded consulting engagements– Sales and Service Delivery SWOTs– Enterprise consulting partnerships
How Partners Engage
• A membership level for everyone– Free Basic Community Membership– Marketing Community Partnership– Sales Community Partnership– Service Delivery Community Partnership– Operations Community Partnership– Enterprise Community Partnership
• Subscription based, month-to-month, no long term commitment
MSP University Training Portal
Educate, Train, Certify and Lead
How to Manage Your Business in 30
Minutes per Month; Building Better
Management Process
Tony L. LaelExecutive Vice President, CoreConnex, Inc.
Mr. Lael is the Co-Founder and Executive Vice President of CoreConnex, Inc., the producer of the Corelytics™ Financial Dashboard for IT service companies.
Tony has specialized in operations management, management consulting, small business management, IT operations and software development since 1996. Prior to starting CoreConnex, Tony founded Aponus Consulting, LLC in 2002 a management and technical consulting firm with specialization in helping small companies develop strategic business plans, operationalize marketing and sales strategies as well as pricing, packaging and selling IT managed services offerings.
Tony Lael
Executive Vice PresidentCoreConnex, Inc.
www.coreconnex.com
Producer of theCorelyticsTM Financial Dashboard
How do you manage?
What road is your company on?
Agenda• Your Business Priorities– Freedom– Build, build, build– Building rhythm – The right fit
• Models and Trends• A Management Process• Q&A
Start Up
Lifestyle
Business Stage Drives Priorities
Experienced Team
Building for Exit
LifestylePersonal freedoms
• Primarily T&M• Some fixed fee• Personal
management• Income, expenses &
cash
• Multiple LOBs• Contracts• Develop
Management skills • Growth
Start UpBuild, build, build!
• Client Portfolio• Client service #1• Line managers• EBITDA
Experienced TeamDevelop rhythm
• Succession• Most optimal value
with smoothest transition
• Valuation
Building for ExitThe right fit
Models & Trends Drive Management
M a n a g e m e n t i s D i ff e r e n t
What services do we provide?Believe the hype
Trends Management• The lure of
recurring revenues• Blended services
complex to manage, higher profits
- Taken from Corelytics RMM Industry Performance Report June 2011
How do we manage?Different models, different style
Trends Management
• The lure of recurring revenues
• Blended services complex to manage, higher profits
- Taken from Corelytics Industry Performance Report February 2011
What is Our Picture?Know your metrics
• Top 5 to 15 (examples)– Revenue – Expense– Profit– Revenue per Billable
FTE– EBITDA– Marketing Expense– Gross Margin
What do Top Performers Have in Common?
A M a n a g e m e n t P r o c e s s
Close Books
UploadData
Review Performance
TOP 3ACTION ITEMS
assign ownership
A Management Process30 Minutes per Month
Set GoalsPick a target
• Pick your goals – Growth– Percent of Revenue
• Track benchmarks for your model
• Forecast performance – Pick best and worst
case scenarios
Review PerformanceHave consistency
• Know key relationships– Cash to Expenses – Revenue Rate to
Expense Rate to Cash Balance
• Ask tough management questions
Assign Ownershipfollow through
• Link operational priorities to metrics you track
• Assign your best people to own (this may be you!)
• Visibility of business performance
Learn More
mspu.corelytics.comor
www.corelytics.com
Thank You!
Thank You
Tony L. LaelExecutive Vice PresidentCoreConnex, Inc.Producer of theCorelyticsTM Financial [email protected]