Key performance indicators (KPIs) are an important metric for any business. They provide an overview of your company, show where you can improve, and can even help predict where your company is going. While you may be concentrating heavily on the business side, basing success on revenue and profits, it's important to remember the people you work with or for. Do your clients enjoy your services? Are your employees happy? Are you tracking stats that reflect this? In this episode of MSPtv, we sit with Continuum's Ray Vrabel as he discusses how to build a better MSP business with KPIs. 

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Bloomberg report on Ebay's hack.

Episode Outline:

  • [0:30] - Security
    • Be prepared for attacks
    • Change password regularly
  • [1:54] - Key Performance Indicators
    • Tie them into your company's vision
  • [2:41] - Ways to measure your company's performance
    • Customer satisfaction is an important and often overlooked statistic
    • Don't just focus on the business side of KPIs
  • [3:34] - Prioritizing your KPIs
    • Earnings, sales, new clients, health of your business
    • Also look internally
    • Employee Satisfaction - large cost in training new employees
  • [4:46] - Change and growth of your employees
    • Keep a pulse on your employees
    • Getting work done does not equal happiness
  • [5:52] - Revenue KPIs
    • Look at current revenue rates of your clients
    • Value of your client
    • Check to see if you're remaining profitable
    • Price competitively but carefully
  • [6:50] - Keeping your client happy
    • Failing to do so will create opportunities for competitors
    • Consult with your clients, provide quarterly business reports
  • [7:41] - Cost of Goods Sold (COGS)
    • Look internally before setting your prices
    • Make sure service quality doesn't dip when adding more clients
    • Consider outsourcing to keep you service quality in shape

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