12/31/08 at 12:37 PM by Frank Coker In the past 6 months, 71% of IT service companies (MSPs, VARs, and other IT service providers) surveyed by CoreConnex have continued to grow in spite of the global economic down turn. Of these growing companies 80% continue to show healthy profitability. All evidence shows that the economic down-turn is good for IT service businesses.
As we look closer, we see…
10/17/08 at 2:20 PM by Frank Coker Overview
The term “client portfolio” gets used a lot, but the real power of the concept is usually lost. The portfolio concept is actually a very rich way to understand the value and opportunities in your existing list of clients. It takes time and effort to do a full portfolio evaluation but it can make a big difference in how you…
9/19/08 at 10:09 AM by Frank Coker Perhaps this is a walk on the “wild” side for those who are more comfortable with technology and less comfortable with finance. For many owners of VAR, MSP, and outsourced IT service companies, it’s the technical challenges that they thrive on. Lock them in a room with their own P&Ls and cash flow statements and the keen edge fades.
Business owners…
9/1/08 at 9:11 AM by Frank Coker Asking an IT service company owner or senior manager to do financial planning is like asking a system user to become a technology expert. In worst case it’s like asking grandma to configure a network. Okay, that was extreme, but it makes a point. The problem is that a lot of the really important analysis and planning either doesn’t get…
8/5/08 at 11:17 PM by Frank Coker Why do SLAs matter?
Service Level Agreements (SLAs) are common with large companies and large IT providers. But only a few small IT service companies have figured out how to take advantage of SLAs for their small business clients. Yet, ifthese small service companies handle it right, SLAs can be a great tool for selling new business, converting existing clients to fixed…
7/16/08 at 1:08 PM by Frank Coker HT7A – How to Build Owner Equity Value in Your IT Service Business
Are you taking the right actions to maximize your company’s equity value? Many small actions can have a big impact on your dollar value in the market – both positive and negative.
Without a well grounded financial plan, it is highly likely that you will loose equity value just…
6/13/08 at 10:26 AM by Frank Coker The idea of profits in an IT service company can be very confusing. Most small business owners get the idea that they should avoid profits in order to minimize taxes. But they often miss the part where you need to be a profitable business if you ever want to get a bank loan, attract investment capital, bring on new partners…
6/6/08 at 11:11 AM by Frank Coker CoreConnex has conducted extensive research into the needs and requirements of senior business managers and small business owners. The purpose of this research is to get a better understanding of how small business make decisions to outsource various aspects of their business.
It is interesting to know that many companies make the decision to outsource technical service when a crises occurs.…
5/29/08 at 12:16 PM by Frank Coker If you are just starting your company, the idea of equity value is probably not on your radar screen. If you have owned you company for 10+ years, it has probably occurred to you that you might want to sell your company so you can do some world travel and work on that golf game. And if you are thinking…
5/22/08 at 11:10 AM by Frank Coker It’s just like being a parent and managing a household. Everything needs to be a number one priority. Things that get neglected will generally require a much higher price be paid at some point in the future.
So from the business owners point of view, everything is a high priority. But the real trick is knowing when to take action.
From a…