The year is finally coming to a close, and it's time to reflect and evaluate not only what worked for your business, but more importantly, what didn't. Review your Key Performance Indicators (KPIs), talk to your employees, think retroactively, and this will help you prepare for a smoother year down the road. Here again to help guide you along your path for the new year is Bryan Gilliom, Founder of Level 5 Coaching Group. Join Bryan as he recounts his top surprises of 2014, and shares what to look for in the future as an MSP.
Have any suggestions for an MSPtv episode? Want to give us your feedback? Email us at email@example.com and let us know what you think!
[0:30] - If you're not measuring it, you don't know how well you're doing
- Numbers don't lie. Pick 3 or 4 "KPIs" or "Executive Dashboards"
- Recurring revenue, Client Acquisition Rate, Customer Satisfaction, etc.
- Use that to track where you're at and what you can improve on
[1:26] - Encourage looking at metrics on a monthly basis
- Make sure to look back on previous metrics
- See where you stand
- "Busy-ness" does not equal success
- Weekly metrics that are off by $100 are much more valuable than precise annual metrics
- Make sure to measure everything after a major transition in your business
[4:07] - Business Review Questions
- Quarterly review questions for employees should be the same questions you ask yourself
- What are 3 things other businesses have done that you wish you could do?
- What are 3 things that are holding your business back?
- Good start to year-end planning
[5:13] - 2014 Surprises
- Slow pace of hybridization and virtualization of on-premise servers
- Slow pace of cloud transition
- Keep an eye on Microsoft, soon to be competitors
[5:59] - 2015 Challenges
- Differentiate your business from competitors
- Find your own brand! Brand your products and services
- Position yourself as a business adviser with a technology expertise
- Have a relationship with your clients
- Train your employees to speak business
- Information is better than ignorance
- Let them know smart-sourcing helps build the business, not replace employees
[11:06] - Incentivize your employees
- Salaried paycheck doesn't leave room for growth for the employee or your business
- Reward them for customer satisfaction, new customers, etc.
Is marketing in your 2015 business plan?
By Gretchen Hoffman
By Gretchen Hoffman