Uncle Marv's IT Business Podcast

Sean and Dave share the backstory behind writing "The Pumpkin Plan for MSPs." They explain how their personal experiences and mistakes in the industry inspired them to create a book that provides practical, battle-tested advice for managed service providers. The authors emphasize that their goal was not to reinvent the wheel, but to distill the essential lessons from Mike Michalowicz's original "Pumpkin Plan" and adapt them specifically for the MSP community. A key theme of the book is helping MSPs find their "sweet spot" - the unique value proposition that sets them apart from competitors. The authors stress that MSPs should not simply copy others' strategies, but rather uncover what they do best and double down on those strengths. They share how being brutally honest about their own business missteps has allowed them to provide authentic, relatable guidance to their readers. Throughout the discussion, Sean and Dave highlight the importance of always keeping your business "exit-ready," even if you have no immediate plans to sell. They explain how maintaining a company in prime condition for a potential buyer can pay dividends, whether you ultimately decide to transition ownership or continue running the business. The authors draw from their personal experiences to illustrate how being prepared for unexpected opportunities or challenges can make all the difference. Key Takeaways: Adapt proven business principles to your unique MSP contextUncover and capitalize on your company's distinctive strengthsMaintain an "exit-ready" mindset to maximize the value of your businessLearn from your own mistakes and those of others in the industryLinks from the show:Get the Pumpkin Plan for Manager Service Providers book: https://amzn.to/3UvZxItEncore Strategic Business Consulting Firm: https://encorestrategic.io/Michael Porter's "What is Strategy": https://www.itbusinesspodcast.com/downloads/Michael-Porter-Strategy/ === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

Introducing Stack Tracker for MSPsColin Knox explains that StackTracker goes beyond just mapping an MSP's technology stack. It focuses on the reseller aspect of an MSP's business, providing insights into the usage, costs, and profitability of the solutions they are reselling to clients. By pulling in data directly from vendors, StackTracker can show MSPs their vendor spend, revenue, and profitability across their entire product portfolio. This allows MSPs to identify opportunities for optimization, such as consolidating redundant solutions or upselling underutilized products to clients. Empowering MSPs Through Data AnalysisThe system also uses AI to analyze the data and provide actionable recommendations to the MSP. This includes identifying anomalies, such as duplicate deployments of the same product, as well as quantifying revenue and profit opportunities across the client base. The AI-driven insights aim to help MSPs make more informed decisions about their technology stack and pricing strategies, ultimately driving greater profitability. Colin emphasizes that the key value proposition of StackTracker is empowering MSPs to grow their businesses smarter and more profitably. Key Takeaways: StackTracker provides deep visibility into MSPs' technology stacks, including usage, costs, and profitabilityFocuses on the reseller aspect of an MSP's business, not just internal tool usageUses AI to analyze data and provide actionable recommendations for optimization and growthHelps MSPs identify revenue and profit opportunities across their client baseAims to enable MSPs to make more informed decisions about their technology stack and pricing === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

Lori Hardtke is a solo MSP owner who has been in the IT industry for many years, working in various roles such as IT manager at large companies like Mayo Clinic. Over time, Lori realized that she didn't want the responsibility of managing employees and decided to run her business as a solo operation, leveraging subcontractors when needed.  In 2018, Lori came across the Profit First book by Michael Michalowicz and was initially hesitant to implement the system. However, in 2019, she decided to give it a try and was able to pay off a $19,000 credit card within four months of implementing Profit First. Lori was so impressed by the impact Profit First had on her business that she decided to become a certified Profit First professional and is now building a Profit First Academy to help other MSPs achieve profitability.  Lori emphasizes that the key to success with Profit First is trust in the system and the discipline to follow the recommended percentages for allocating funds to different accounts, such as profit, taxes, and marketing. She also highlights the importance of streamlining expenses and negotiating better deals with vendors, which can have a significant impact on the bottom line. Lori's own business is 100% remote, with her operating from Maui, and she has found success in presenting her business as part of a larger network of resources, rather than just a solo operator. Key Takeaways: Implementing the Profit First system can significantly improve profitability and cash flow for MSPsBecoming a certified Profit First professional can help MSPs guide other businesses through the Profit First implementation processStreamlining expenses, negotiating better deals, and presenting the business as part of a larger network of resources can all contribute to the success of an MSPShow Links:Lori's MSP Website: https://www.bytewize.net/Profit First for MSPs: https://www.profitfirst4msps.com/ === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

Uncle Marv's recap of the Channel Pro Live eventUncle Marv starts by discussing his recent trip to Channel Pro Live in Orlando, Florida. He shares his overall positive impression of the event, noting that the location, accommodations, and Wi-Fi were all satisfactory. The content and speakers were also well-received, with the keynote by Manuel Palachuk and panels featuring industry experts like Rayanne Buchianico, Eric Long, and Carlos Perez. Uncle Marv emphasizes that the event was not a "pitch fest" and provided valuable conversations for attendees.  Next, Uncle Marv shares a "junior story" about a client who has been with him for a long time but has consistently shopped around for cheaper services. When an employee filed a personal claim against one of the client's customers, the client wanted to know what files the employee had accessed, but Uncle Marv's team did not have the capability to track that level of detail. The client had previously declined to pay for additional features like 24/7 support and file monitoring, and Uncle Marv had to remind them that they were getting what they paid for. This led to a tense conversation, but ultimately, Uncle Marv engaged a digital forensic specialist to investigate the issue and will be implementing the additional tracking features the client now wants, at an additional cost. Uncle Marv emphasizes the importance of setting clear expectations and pricing with customers, as discussed on the All Things MSP show. He stresses the need to stand firm on pricing and not cave to customer demands for additional services without proper compensation. This episode serves as a cautionary tale for IT professionals and managed service providers to ensure they are properly managing customer expectations and pricing their services accordingly. Key Takeaways: Importance of setting clear expectations and pricing with customersNeed to stand firm on pricing and not cave to customer demands for additional services without proper compensationValue of providing high-quality content and avoiding "pitch fests" at industry eventsChallenges of managing client relationships and balancing customer needs with business requirementsLinks from the Show: Channel Pro Live Events: https://events.channelpronetwork.com/Learn about the Island Router: https://www.islandrouter.com/Florida Man Beats 5-Year Old for Watching PAW Patrol: https://tinyurl.com/4defyzddFlorida Man Kills Roommate over $1: https://tinyurl.com/3yka94xn === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

Uncle Marv and Tim Fitzpatrick dive into the challenges many MSPs face when it comes to marketing their businesses. Tim explains that the first step in developing a successful marketing strategy is to understand where the business is currently and where it wants to go. This involves identifying the target market, crafting the right messaging, and ensuring the offerings are aligned with the needs of the ideal clients. Tim cautions against the temptation to jump straight into marketing tactics, such as social media or paid advertising, without first establishing a solid strategic foundation. He emphasizes that "hope is not a marketing strategy" and that MSPs need to take a more focused and targeted approach to their marketing efforts. Tim suggests that MSPs should avoid getting caught up in the latest marketing trends and instead focus on the channels and activities that resonate with their specific target audience, even if that means avoiding certain platforms or tactics. The discussion also touches on the importance of profitability over top-line revenue when evaluating client relationships. Tim agrees with Uncle Marv's experience of needing to "fire the big whales" - clients that generate a significant portion of revenue but are not profitable. This aligns with the strategic approach to marketing, as MSPs should be attracting the right type of clients, not just any clients. Key Takeaways: Develop a marketing strategy that aligns with your business goals and target audienceAvoid jumping straight into marketing tactics without a solid strategic foundationFocus on the marketing channels and activities that resonate with your ideal clientsPrioritize profitability over top-line revenue when evaluating client relationships=== LinksRialto Marketing Website: https://www.rialtomarketing.com/Rialto Marketing Podcast: https://www.rialtomarketing.com/rialto-marketing-podcast/Revenue Roadblock Scorecard: http://revenueroadblockscorecard.com/ === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

Strap in for a strategic deep dive into the world of help desk management, where I reveal how transitioning to a specialized team structure can turn your service from satisfactory to exceptional. We navigate the shift from generalist to niche expert pods, ensuring that your team is not just dealing with the day-to-day but excelling in their specialized fields, from healthcare to banking. It's more than just technical know-how; it's about crafting a client experience that sticks, and I'm spilling the beans on the tools and tactics that can get you there. Brook and Coach start by discussing the different approaches MSPs can take when formalizing their help desk operations. Brook Lee emphasizes that there is no one-size-fits-all solution, and the approach should be tailored to the size, maturity, and client needs of the MSP. Outsourcing the help desk can be a viable option, especially for smaller MSPs where the technicians are often out on-site with clients. However, Coach cautions that outsourcing comes with its own financial considerations and that partnering with another solo technician can also be an effective interim step before building an in-house help desk. Regardless of the approach, they both agree that establishing clear processes, procedures, and standard operating procedures (SOPs) is crucial. This "tribal knowledge" needs to be documented so that new hires or outsourced providers can quickly get up to speed and provide consistent support. As the MSP scales, the panel discusses the benefits of transitioning from a single help desk queue to a more specialized, tiered model where technicians can focus on their areas of expertise. This not only improves efficiency but also allows the MSP to charge higher rates for their specialized support. The discussion then turns to the importance of using metrics and key performance indicators (KPIs) to drive help desk efficiency. Brook and Coach share strategies for setting realistic service level agreements (SLAs) and using automation to escalate tickets that are at risk of missing their SLAs. They also highlight how these metrics can be used to motivate and upskill help desk technicians, rather than just as a punitive measure.Wrapping things up, we talk numbers—but not just any numbers. We're focused on the KPIs and SLAs that will make or break your help desk's reputation for rapid and reliable service. You'll walk away with actionable insights on nurturing both employee satisfaction and customer loyalty, guaranteeing a win-win scenario for your MSP business. Key Takeaways: There is no one-size-fits-all approach to help desk operations; the solution should be tailored to the MSP's size, maturity, and client needsEstablishing clear processes, procedures, and SOPs is crucial for scaling help desk operationsTransitioning to a tiered, specialized help desk model can improve efficiency and allow for higher billing ratesMetrics and KPIs should be used to drive help desk efficiency and motivate technicians, not just as a punitive measureLinks from the show:PIA website: https://pia.ai/Florida Man Accused of using kids to collect money for fake charity: https://tinyurl.com/yctme4p3  === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

Join the revolution of IT as we chat with Jeff Bishop from ConnectWise, who lifts the veil on the future of automation and AI. Our conversation takes off from a tale of a complex client relocation, seguing into Jeff’s exciting reveal of ConnectWise's latest innovations in robotic process automation. Jeff describes how their RPA solution goes beyond just bots, also including more comprehensive workflow automation capabilities that can be triggered by various inputs like web hooks or forms. He emphasizes how these tools are designed to save time and increase efficiency for MSPs.Jeff also introduces ConnectWise's new AI assistant, Sidekick, which is being integrated across their entire product suite. Sidekick leverages machine learning to augment tasks like ticket triage, calendar management, and opportunity analysis. Jeff explains how Sidekick is part of their "hyper automation" strategy, where AI complements human efforts by automating repetitive tasks. Key TakeawaysConnectWise is relaunching Automation Nation as a quarterly event focused on their automation and workflow toolsTheir RPA and workflow automation offerings go beyond just bots, providing comprehensive automation capabilitiesConnectWise is integrating AI through their Sidekick assistant across their product suite to enable "hyper automation"Gathering partner feedback is crucial to ensure these new AI-powered features meet the needs of MSPsLinks from the showFlorida Man Stopped from taking teen to furry convention: https://tinyurl.com/4r4n7j76Video version: https://tinyurl.com/bddze8e3Florida Woman Arrested for Playing "21" at Walmart: https://tinyurl.com/23m7bdsxChannel Pro Live in Orlando, April 10-11, 2024: https://orlando.channelpronetwork.com/e/2138610102Pax8 Beyond Conference in Denver, June 9-11, 2024: https://www.pax8beyond.com/Techcon Unplugged in Hanover, MD, September 12-14, 2024: https://techconunplugged.com/  === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

The episode begins with Uncle Marv introducing the "star-studded crew" of guests, including Jerry Koutavas, the president of ASCII, Jessie Devine, the VP of Channel Development at ASCII, and Sue Trahant, an MSP owner who has been involved with ASCII for over 20 years. This episode isn't just a walk down memory lane; it's a master class in community building and strategic foresight.  Jerry reflects on ASCII's 40-year journey, highlighting the camaraderie and "scar tissue" that the group's members have built up over the years as they've navigated vendor changes, distribution issues, and other industry challenges. Jessie Devine, who joined ASCII during the COVID-19 pandemic, shares her perspective on the organization's evolution, noting that while the group has changed over the past 10 years, its core mission of supporting MSPs has remained constant. She emphasizes the importance of ASCII's role in providing guidance and resources to its members, especially during difficult times. Sue Trahant, whose company Land Computers has been an ASCII member for over 22 years, discusses the value the group has provided, from the initial boot camps and vendor connections to the ongoing support and camaraderie. Sue offers a seasoned perspective, highlighting how ASCII has helped shape the direction of her business and the industry as a whole. Hear about the immense benefits and thought leadership ASCII brings to the MSP community, from peer accountability groups like ASCII Spark to our steadfast commitment to vendor neutrality. We also delve into the crucial role of MSPs in an era of rapid technological advancement, emphasizing the importance of maintaining relevance amid disruptive innovations. Key TakeawaysASCII has been a valuable resource for MSPs and IT professionals for 40 years, providing support, connections, and a sense of community through industry changes and challenges.The organization's focus on supporting its members and advocating for the industry has been a constant throughout its evolution.ASCII's programs and benefits, including exclusive vendor partnerships, peer accountability groups, and business resources, offer significant value to its members.The group's leadership and culture, exemplified by figures like Alan and Jerry, have been instrumental in fostering the organization's close-knit, supportive environment. === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

When Paco LeBron and Rick Smith from MSP Unplugged drop by, you know you're in for some real talk about the tech industry's heartbeat—community and collaboration. Ever wondered what sets apart the most successful MSPs? It's the power of a strong, supportive community. Discover the power of unity in the MSP space, as we reminisce about the formation of MSP Unplugged and its evolution from Podnutz. We highlight the pivotal role smaller MSPs play in the industry, bringing agility and the ability to harness modern technologies to compete with larger firms. We also shine a light on the transformative experiences of tech conferences like TechCon Unplugged, where the sharing of knowledge and the formation of professional bonds flourish in an environment of equality among MSPs, vendors, and speakers.Key Takeaways: Community, knowledge sharing, and opportunities in the MSP industry foster growth and collaboration among peers.Tech conferences bring people together, forming lasting connections and celebrating accomplishments, despite challenges and unforeseen issues.TechCon Unplugged offers value and partnership, and attendees give back out of passion.=== Links from the showNews: AT&T data leak affects 73 million users: https://tinyurl.com/28p37avcFlorida Man shoots roommate 10 times because of cats: https://tinyurl.com/55fbm2rz === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

Planning for Business Exit and ProfitUnlock the secrets to a profitable business exit with Rayanne Buchianico in a conversation that will leave you with a blueprint for success. We dissect the crucial yet often neglected aspect of starting your IT or MSP business with the ultimate exit in mind. Grasp the impact of sudden events like health issues that can expedite the need to sell and discover how to build a company that flourishes without you at the helm, drawing wisdom from "Built to Sell" to make your business a hot commodity for potential buyers.Understanding EBITDA for Business ValuationThe conversation highlights the importance of maintaining organized financial records, documented procedures, and corporate governance to facilitate a smooth transition or sale of the business. Moreover, Rayanne provides insights into valuation methods such as EBITDA multiples and discounted cash flow analysis, stressing the need for businesses to understand their worth objectively. Wrapping up this rich conversation, we concentrate on the importance of keeping your financial books transparent and pristine, particularly when eyeing a future sale. Emphasizing the necessity of separating personal and business finances, we explore the realistic expectations of selling your business and the financial nuances that follow. For those caught unprepared, we discuss selling customer accounts as a possible expedient option. Tune in and equip yourself with the knowledge to supercharge your success and ensure your business's longevity and profitable exit strategy.Key Takeaways: Importance of exit planning and preparing a business for future transitions.Understanding valuation methods like EBITDA multiples and discounted cash flow analysis.Emphasizing the significance of maintaining organized financial records and operational procedures.Long-term planning strategies to enhance business value and readiness for potential exits. === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

MSP Money Management TipsIn this insightful episode, Rayanne Buchianico emphasizes the significance of implementing an accounting system from the start to track income and expenses effectively. She highlights the need to differentiate revenue streams like products, services, and professional services to understand margins and costs better. By setting clear financial goals and regularly reviewing benchmarks, businesses can ensure financial stability and growth. Rayanne's expertise shines through as she shares practical advice on structuring accounting systems, separating direct costs from fixed expenses, and aligning financial goals with revenue targets. Listeners gain valuable insights into managing income accounts, cost of goods sold, and overhead expenses to optimize profitability in their IT businesses. By focusing on key financial metrics and maintaining a balance between revenue streams, IT professionals can enhance their financial management practices for long-term success.Our financial journey doesn't stop at the basics; we also tackle the creation of a clean and practical Profit & Loss statement. Learn how pinpointing expenses can lead to better decision-making and the role of tools like QuickBooks in keeping bookkeeping a breeze. Whether it's reaching that coveted monthly recurring revenue target or understanding the sweet spot for profit margins, this episode is an indispensable guide for any MSP looking to turn a profit and scale up with confidence.=== Key Takeaways Implement an accounting system early on to track income and expenses efficiently.Differentiate revenue streams like products, services, and professional services to understand margins and costs.Set clear financial goals aligned with revenue targets for business growth.Regularly review benchmarks such as gross profit margin and net income percentage for financial health.=== Links from the showABC Solutions, LLC: https://abcsolutionsfl.com/ === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

MSP Financial Tips for SuccessThis week, I'm joined by Raffi Jamgotchian, a masterful MSP who's carved out a niche in safeguarding financial firms. Raffi shares insights on operational efficiency, long-term value building, budgeting strategies, debt management, and the importance of flexibility in adapting to market changes.The heartbeat of any business is its cash flow, and we're not shy about diving into the deep end. I lay bare my own transformation with the Profit First system, a method that's reshaped the way I manage money within my company. It's a candid reflection on fiscal discipline, punctuated by the importance of sticking to a budget and the lifeblood of regular financial reviews. Raffi and I share the nuggets of wisdom to keep your MSP's pulse steady and strong, because when the cash flow is healthy, so is the business. Raffi delves into the importance of long-term value creation, stressing the need for businesses to think strategically about their future growth and financial stability. The discussion extends to practical budgeting techniques, debt management strategies, and the value of flexibility in responding to market dynamics for sustained success.=== Links from today's showTriada Networks: https://triadanet.com/ === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

Uncle Marv talks about the concept of billing for every aspect of service provision, highlighting the need to include travel expenses, phone consultations, consulting time, and detailed service billing in invoices. He shares insights on how to structure billing practices to optimize revenue generation and enhance client satisfaction by maintaining transparency throughout the invoicing process.The episode underscores the significance of accurately accounting for all billable elements, from travel time to consulting tasks, emphasizing the need for clear communication with clients regarding invoicing practices. By incorporating these strategies into their billing procedures, IT professionals can ensure fair compensation for their services while fostering positive client relationships based on transparency and clarity.Key Takeaways:Travel Billing:Bill for all travel time spent working for a client away from your office, whether it's local or across the state.Consider billing from the time you leave your office to the time you finish with the client, excluding travel back if clients are nearby.Include expenses like mileage, gas, tolls, lodging, and meals in your billing to ensure comprehensive compensation.Phone Time Billing:Include phone consultations in your billing if they are not part of regular end-user support or fall outside the scope of work.Bill separately for vendor calls, troubleshooting sessions, or any phone time that is beyond standard support services.Ensure that all billable phone time is transparently included in your invoicing practices to avoid under compensation.Consulting Time Billing:Charge for consulting time that involves research, strategic planning, vendor management, or any tasks beyond regular support services.Account for training and education sessions separately if they are not part of a monthly service agreement.Be clear and detailed in your invoicing to reflect all consulting tasks accurately and ensure fair compensation for additional services provided. === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

In this episode of the IT Business podcast, Uncle Marv discusses cash flow management with Heather Zeitzwolfe, a CPA and profit strategist. They delve into the importance of understanding the difference between profit and cash flow, emphasizing the significance of tracking business finances effectively.Heather highlights the distinction between profit and cash flow, stressing that profit is what remains after expenses are deducted, while cash flow refers to the movement of money in and out of a business. She emphasizes the need for business owners to track their finances diligently to avoid confusion between profit and available cash.Moreover, Heather suggests using tools like QuickBooks to visualize cash flow effectively, enabling business owners to monitor money coming in and going out. By understanding the timing of cash flows and maintaining reserves, businesses can navigate uncertainties and ensure financial stability.Heather's approach blends her analytical skills with creativity to help clients interpret financial data and strategize for the future. Her unique focus on working with vegan clients showcases her commitment to ethical alignment in her business partnerships.=== Time Stamped Highlights: 02:29 - Introduction of Heather Zeitzwolfe, a CPA specializing in virtual CFO services.03:27 - Discussion on the difference between profit and cash flow.05:28 - Importance of tracking business finances effectively.09:19 - Tips for understanding cash flow early in business operations.31:24 - Blending analytical skills with creativity in financial services.37:40 - Ethical considerations in client partnerships for a vegan CPA.=== Links from the showWebsite: Zeitzwolfe AccountingNavigating Taxes for Solopreneurs Workbook: https://tinyurl.com/43kt4nu3Florida Man Tapworm Update: https://tinyurl.com/2rdjv7yjFlorida Man extorted over $80k from wife: https://tinyurl.com/3cynwbm4 === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

Join me as I share insights gained from my attorney clients to help you enhance your billing practices and cash flow. Listen in as I recount a pivotal moment during a technology business review with a law firm client that sparked a realization about the power of detailed invoicing. This episode is packed with valuable advice on how to present your services in a way that not only satisfies clients but also prompts swift payment, placing them in that top tier of prompt payers.We explore common billing practices among Managed Service Providers (MSPs) and why a departure from industry norms has led to remarkable improvements in client relationships and business operations. You'll hear firsthand how being meticulous with your invoice details can transform the speed at which you receive payments, turning an often-overlooked aspect of business into a strategic advantage. Tune in to discover strategies that could lead to your invoices being paid within minutes of delivery, just as I experienced with my fastest-paying client. === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

Our latest episode welcomes a panel brimming with influential voices, including Juan Fernandez from SuperOps, Uncle Marv of the IT Business Podcast, Paco Lebron from MSP Unplugged, Eric Anthony of All Things MSP, and Eric Simpson from MSP Mastered. These leaders share their insights on transitioning from isolation to collaboration and the critical role of knowledge sharing and mutual support to elevate the sector.The episode kicks off with Juan Fernandez welcoming listeners to a star-studded show from SuperOps, highlighting the significance of community in the managed services sector. The hosts emphasize the value of collaboration and sharing within communities, showcasing how these interactions can drive industry progress.The discussion unfolds with each guest sharing their unique journey into community building within the IT business landscape. Marv recounts his podcasting journey that started from filling in for a hiatus and evolved into a platform for sharing knowledge and supporting businesses. Eric Anthony shares his transition from an MSP to a vendor role, leading him to establish All Things MSP as a means to give back and assist MSPs with non-technical aspects of their businesses.Paco Lebron's story reflects a similar theme of learning and collaboration within communities like Podnutz network, inspiring him to co-found MSP Unplugged and emphasize the value of sharing knowledge and fostering collaboration among competitors in the industry. The conversation also touches on the importance of diversity and inclusion in the industry, recognizing the need for more female representation and empowerment within these communities.===== Links from the showJuan Fernandez, SuperOpsWebsite: https://superops.com/Paco Lebron, MSP UnpluggesWebsite: https://www.mspunplugged.com/Eric Anthony, All Things MSPFacebook Group: https://www.facebook.com/allthingsmspPodcast: https://podcasts.apple.com/us/podcast/all-things-msp/id1679331639Erick SImpon, Channel MasteredWebsite: https://channelmastered.com/MSP Chat Podcast: https://podcasts.apple.com/gb/podcast/msp-chat/id1716434341 === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

Navigating Cyber Coverage: Cork's Warranty vs. Traditional InsuranceNick Wolf introduces Cork Inc., a cyber warranty solution for MSPs to resell to their clients, offering financial coverage and quick access to funds in case of incidents. Unlike cyber insurance, Cork's warranty can cover expenses like ransomware payments, wire transfer losses, and phishing attacks, while also paying off cyber insurance deductibles. The episode emphasizes the ease of onboarding with Cork, requiring only one warranty license for MSPs to start offering this service to their clients.The discussion delves into Cork's unique selling point of real-time visibility through APIs, eliminating the need for lengthy security questionnaires and providing instant access to client data for efficient coverage assessment. Nick Wolf clarifies that Cork's pricing is based on coverage amount rather than company size or revenue, making it straightforward for MSPs to offer this service to a wide range of clients. The episode concludes with insights into Cork's team composition, including industry veterans from Datto, and their approach to educating end-users on the benefits of cyber warranties.We also explore the pathway to becoming a Cork reseller, including the minimal requirements and the non-restrictive approach Cork takes towards client types. If you're an MSP looking to broaden your offerings with a unique market solution that can complement cyber insurance, this conversation highlights the benefits and considerations of adding cyber warranties to your service portfolio.  === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

In this episode, Uncle Marv introduces the topic of the NSITSP, highlighting the necessity for IT service providers to have a voice in shaping industry standards and regulations. Amy Babinchak joins the discussion, shedding light on the origins of NSITSP and its mission to professionalize the IT industry by establishing codes of conduct and ethics.NSITSP stands for the National Society of IT Service Providers, a professional association representing SMB (small and medium business) IT consultants. They focus on education, professionalism, and promoting growth within the IT industry. NSITSP offers membership opportunities that provide access to webinars, online training, and professional development resources for IT consultants.The conversation delves into the parallels between IT services and other regulated industries like auto repair or accounting, emphasizing the need for clear standards and career progression within IT services. The NSITSP aims to enhance the credibility of the IT industry by promoting ethical practices and fostering a sense of professionalism among service providers.Moreover, Uncle Marv and Amy discuss the challenges faced by IT professionals in gaining recognition and influence in legislative matters. The NSITSP's efforts to educate members on legislative issues, provide legislative tracking, and empower self-representation signify a step towards ensuring that IT service providers have a seat at the table in policy discussions.=== Links from the showWebsite: https://nsitsp.org/ === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

Join me as I unpack the latest in IT business strategies and the sheer hilarity of the Florida Man Games. Listen in as I share the surprising turn of events that led to the Games becoming a major spectacle in St. Augustine and provide a rundown of the quirky competitions that ensued. But that's not all; I also discuss the exciting announcement of our Amazon gift card winner. The conversation then shifts to important business matters, including a CEO transition at Syncro and a declaration of March as Money Month, complete with expert guests to guide you through financial do's and don'ts.Dive into a personal narrative as I recount a near-fatal choking incident that led to an ER visit. This story not only explains recent changes in my demeanor but also paves the way for my increased focus on health, which listeners can explore further in my new Unhealthy Podcast. Amidst the tech talk, I also extend an invitation to my colleague Eric to join me for a live-streaming adventure at the Florida Man Games, showcasing our community's lighter side.Finally, the discussion turns to a crucial topic for any IT business owner: maximizing profits through strategic pricing. I share billing strategies learned from my attorney clients and discuss the importance of valuing your services without seeking permission to raise rates. I recount a personal experience where a standoff over my rates with a tenacious client became a watershed moment in my business, teaching me the value of standing my ground and the power of respectful business relations. === Links form the show2024 IT Business Owners Group Member Cruise: https://itbog.org/cruise/Florida Man Games Recap Video: http://tinyurl.com/2r2r3y9dFlorida Man Radio Returns to Full Strength: http://tinyurl.com/4zekjybh === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024

Ever wondered what it's like to navigate the twists and turns of the ever-evolving IT landscape while building a supportive community? Join us as we sit down with the remarkable Amy Babinchak, an IT community stalwart, to unravel her journey from managing her own MSP to championing Third Tier. Amy's story is a testament to the adaptability and innovation that’s necessary to thrive in the tech industry. She brings to the table a plethora of insights on how IT professionals can keep their skills sharp and their connections strong amidst rapid technological changes.The discussion delves into the evolution of ThirdTier from providing technical support to offering peer groups and educational resources. Amy highlights the success of their learning groups, like the Intune group, which focuses on practical implementation and shared learning experiences among IT professionals. Amy underscores the value of trusted relationships and open communication within peer groups, contrasting them with casual Facebook groups. The episode explores the challenges faced by IT professionals in balancing personal and professional life, emphasizing the need for genuine support and shared experiences to navigate the complexities of running an IT business effectively.=== Links from the showSupport for IT Pros: https://www.thirdtier.net/Intune, MeM, Lighthouse and Defender Facebook: https://www.facebook.com/groups/endpointmanager/Ransomware and Security Facebook: https://www.facebook.com/groups/294961199808751Research and Advisory Services: https://techaisle.com/ === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024