Welcome back to the iMSPirational Podcast! In Episode 3, Doreen Gemme of NewLife Development stopped by to discuss simple ways of optimizing our financials. Doreen and Brian 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 PSA’s. She also tackles some common dysfunctions that we find specifically within MSPs; for example, why it’s important to intentionally distribute service revenue (30:26) and why services should never be sold as products (42:20). Doreen helps us understand why the process of managing financials does not have to be overwhelming (44:17), and even explores 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 you’d like to hear about, or guests you’d like to hear from!
I also have a long version (a page and a half in MS word lol), but as I was researching best practices, SEO, etc, it seems that 300 words or less with time stamps was the best way to go