Been quiet here for a while. I've spent that time building B.Modelr in Philadelphia, helping owner-run companies see what drives their performance.
Time to start posting what I see. One question drives it all: why do some companies sell well while others can't be given away?
It is the last week of August. Half of you are looking at July financials right now.
Honestly, they are not going to tell you much. July already happened. You cannot go back and price a job differently.
Better question for this week. What did your team do more of in July than in June, and did any of it make you money?
That answer is not in the P&L. It is in how the week actually ran, and you can have it on a Friday instead of on the 20th of the following month.
What does the future hold for consultants who help companies improve their business?
See my recent podcast with @sterrettlaw at https://t.co/ADTwPsVtmR where I discuss how the psychology of getting people to improve can get easier with AI in support!
A common phrase owners and CEOs are coming to understand "Business is just a bunch of people executing processes".
So when an owner says I have great people, but doesn't mention the process that is a red flag in my mind. These people are probably incredible because the culture is strong, but without the right process the people are consistently asked to over perform.
This is how burnout, turnover and inability to scale quickly rears its ugly head.
Manage the process, not the people.
Everyone knows real reward comes with risk.
Everyone knows timing a pivot is hard to predict.
But...
Some risks are no-brainers — the value they add makes the company much more attractive. That's where timing is critical.
And the only way to get the timing right is to focus on the true levers of business performance. Waiting for the financial results is too late. You lose the advantage.
How do you do this? Happy to chat.
It is August 11th. Are your books closed yet?
Honestly I don't care...In this "new world" if you are not managing by the operational drivers of your business and waiting to review last month's financials you are already behind your competition!
🤑😎
Tons of consolidation in IT managed services.
Buyers want operating assets, not people running process.
Most MSPs track 15+ metrics. Almost none improve the model. They help them manage towards lagging financial measures only.
This leads to the question for a potential buyer: is your company an operating asset or just a bunch of clients?
Buyers want to bring more capital in and accelerate from a strong model. That warrants 2 or 3X more EBITDA multiplier on an exit.
#MSP #ExitPlanning
Our lawmakers should be focused on passing policies that keep us safe—but instead, they're considering legislation that would gut our life-saving gun laws. I just sent a message urging my lawmakers to oppose it: https://t.co/fMyvoaJcpa @Everytown
I just sent an urgent message telling my representative to prioritize gun safety--like expanding background checks and reinstating the Assault Weapons Ban--and to oppose gutting our gun laws. Join me! #FedUp@MomsDemand https://t.co/SHKA2UpkO9
@elonmusk@PeterDiamandis@FIRSTweets ELON- my son and his 4 buddies are The Brawler Bots for the FIRST Lego League Challenge. They think a good project would be Telsa's as a transportation resource and simultaneously a distributed energy resupply for homes. Thoughts?
@KRJSilver First question is why do you follow NBC 10 online? Yes I totally agree the media uses fear. Social media feeds off dopamine. Get off it all. I quit TikTok and Facebook and my anxiety has decreased.