Welcome back to the iMSPirational Podcast! In Episode 3, Doreen Gemme of NewLife Development stopped by to discuss simple ways of optimizing our financials. Together, we discuss how optimizing financials allows business owners to focus on their passion while creating scalability for growth. We often look at revamping our Chart of Accounts as a huge undertaking; however, Doreen breaks out a few key elements that provide us financial visibility and comprehensive analytics, as well as an intuitive setup for our PSAs. She also tackles some common dysfunctions that we find specifically within MSPs.
- Importance of intentionally distributing service revenue (30:26)
- Why services should never be sold as products (42:20)
- Managing financials does not have to be overwhelming (44:17)
- Hiring outside consultation (45:36).
We’d love to hear your thoughts, questions, and comments on this episode in our comments sections below, as well as any future suggestions for topics or guests you’d like to hear!
Intro music is the track “All In” by Michael Ruscio; supplied by FRESH Music Library. Check out their great music selection at freshmusic.com.