What has helped make SecureTech successful? Brandon offers a lesson learned: Avoid financial Illiteracy. “Ultimately, financials are the true scoreboard for how well an MSP business is doing,” says Brandon, “Knowing technology is only part of the equation, you have to have a good handle on all of your business financials, things like cash-flows, depreciation, balance sheets, costs of sales, monthly recurring revenue, etc.”
Drawing upon a wide range of thought leadership and industry best practices from Intel CEO Andy Grove to CRO of LionGard Adam Slutskin to CEO of Service Leadership Paul C. Dippell, Brandon has developed a philosophy and an approach that works well for his business. Everything that SecureTech does is measured and tracked against performance benchmarks. “As an MSP grows, over time, it becomes harder to get a clear picture of operational efficiency”, says Brandon. “Tools and methodologies are needed to get actionable information - answers - to common but important questions.”
Questions such as:
- How profitable are existing client agreements?
- Are sales and engineer teams spending their time efficiently and on the correct goals?
- How do we assess who is a good customer and who is at risk?
- Are services margins best in class?