In this episode, Adam and Daniel welcome Dean to discuss the nuances of recruitment and retention within the Managed Service Provider (MSP) industry. This conversation touches upon the challenges MSPs face, particularly around outsourcing and attracting the right talent. Dean elaborates on the importance of having a robust employer brand, effective onboarding processes, and the significance of personalised development pathways. The discussion also covers modern benefits that appeal to candidates, including flexible working arrangements, mental health support, and unique perks like sabbaticals. Practical advice on ensuring operational stability while embracing flexibility, as well as proactive strategies to mitigate the risk of employee attrition, provides substantial value for MSP owners and hiring managers alike.

00:00 Introduction and Welcoming Dean

00:26 The Irony of MSPs Resisting Outsourcing

01:37 Best Practices in Recruitment

03:01 Attracting the Right Candidates

03:46 Importance of Employer Branding

05:42 Benefits and Work-Life Balance

08:26 Flexibility and Hybrid Work Models

15:22 Onboarding and Retention Strategies

21:57 The Role of Job Descriptions

24:30 Employer Branding and Values

31:10 Conclusion and Contact Information

Connect with Dean Watmough on LinkedIn by clicking here – https://www.linkedin.com/in/dean-watmough-b0a05513/

Connect with Daniel Welling on LinkedIn by clicking here – https://www.linkedin.com/in/daniel-welling-54659715/  

Connect with Adam Morris on LinkedIn by clicking here – linkedin.com/in/adamcmorris

Visit The MSP Finance Team website, simply click here – https://www.mspfinanceteam.com/  

We look forward to catching up with you on the next one. Stay tuned!

In this episode, Dan Ellis, founder of PCPowerSave, discusses the inspiration behind his SaaS application designed to reduce energy consumption on computer systems. He details the challenges it addresses, particularly amid rising electricity costs in Europe. Dan outlines how his software surpasses standard power settings by providing detailed reports and automated optimisations, enabling significant cost and environmental savings for businesses. The conversation also touches on market strategies, operational details, and the product’s adoption among MSPs and enterprises, highlighting future plans for scaling and collaborations.

00:00 Introduction and Icebreaker

00:33 The Energy Consumption Challenge

01:15 How the Software Works

01:49 Optimising Power Settings

02:50 Reporting and Additional Features

04:26 Target Market and Pricing

06:11 Energy Savings and Use Cases

12:17 Environmental Impact and Business Values

18:49 Scaling the Business

24:00 Conclusion and Final Thoughts

Connect with Dan Ellis on LinkedIn by clicking here –https://www.linkedin.com/in/djwellis/

Connect with Daniel Welling on LinkedIn by clicking here – https://www.linkedin.com/in/daniel-welling-54659715/  

Connect with Adam Morris on LinkedIn by clicking here – linkedin.com/in/adamcmorris

Visit The MSP Finance Team website, simply click here – https://www.mspfinanceteam.com/  

We look forward to catching up with you on the next one. Stay tuned!

In this episode of 'It's a Number Game' podcast, Adam Morris from the MSP Finance Team introduces viewers to FIRECalc, an online tool for evaluating business valuation and retirement planning.

Discover why it's crucial to get the right valuation for your business, the risks associated with undershooting or overshooting your financial targets, and how to use historical data since 1873 for more accurate projections. Learn to set realistic spending and portfolio goals, adjust for various financial scenarios, and understand the impact of different spending models and portfolio strategies. This tool empowers you to make well-informed financial decisions based on historical evidence.

00:00 Introduction to the Podcast

00:31 Introducing the FIRECalc Tool

01:15 Understanding the Importance of Accurate Valuation

02:33 Getting Started with FIRECalc

03:19 Running Initial Scenarios

07:34 Adjusting for State Pensions and Spending Models

11:10 Exploring Portfolio Adjustments

15:56 Final Thoughts and Additional Considerations

Connect with Daniel Welling on LinkedIn by clicking here – https://www.linkedin.com/in/daniel-welling-54659715/  

Connect with Adam Morris on LinkedIn by clicking here – linkedin.com/in/adamcmorris

Visit The MSP Finance Team website, simply click here – https://www.mspfinanceteam.com/  

We look forward to catching up with you on the next one. Stay tuned!

This episode addresses key financial management strategies for Managed Services Providers (MSPs).

Dan Welling emphasises the importance of understanding whether you want to apply pressure or take pressure when it comes to your finances, suggesting that those on top of their finances have leverage over banks. He highlights common financial misconceptions and problems faced by MSPs, such as over-relying on bank balances, misrecognising revenue, and not regularly reviewing profit and loss statements. The session delves into the significance of management accounts, explaining the concept of a chart of accounts and its role in accurately tracking revenue, costs, and overall financial performance. Dan provides practical insights into valuing MSP businesses using various methods like annual recurring revenue and EBITDA multiples. Lastly, the discussion covers the MSP market landscape, considerations for mergers and acquisitions, and the importance of contractual revenue and deal structure for building and realising business value.

00:00 Introduction and Warm-Up

00:05 Understanding Financial Management for MSPs

01:03 Common Financial Mistakes in MSPs

01:49 Introduction to Management Accounts

03:34 Chart of Accounts Explained

04:38 Revenue and Cost of Sales

11:52 Valuation Methods for MSPs

13:51 Market Overview and M&A Insights

27:28 Importance of Contracted Revenue

34:15 Q&A and Closing Remarks

Connect with Daniel Welling on LinkedIn by clicking here – https://www.linkedin.com/in/daniel-welling-54659715/  

Connect with Adam Morris on LinkedIn by clicking here – linkedin.com/in/adamcmorris

Visit The MSP Finance Team website, simply click here – https://www.mspfinanceteam.com/  

We look forward to catching up with you on the next one. Stay tuned!

We created It’s a Numbers Game Podcast to help MSP owners learn and understand how to build and maintain a financially healthy MSP business. In this podcast series, MSP business owners like you will learn the fundamental steps, the tips and tricks, the dos and don’ts to achieve MSP financial growth. 

In this inaugural podcast appearance, Gary Lucas, an independent financial advisor from Burlington Associates, discusses the critical aspects of business protection. He highlights the importance of various insurance products including death in service, income protection, private medical cover, and critical illness cover for employees. Gary also delves into key person cover and share protection for business owners, explaining how these measures safeguard businesses and ensure continuity. The podcast provides insightful advice for employers on how to implement these protections effectively and underscores the significance of these benefits in employee recruitment and retention.

00:00 Introduction and Welcoming Gary

00:57 Setting the Scene: Gary's Background

02:00 Understanding Business Protection

03:22 Employee Benefits: Death in Service

07:58 Employee Benefits: Income Protection

12:04 Employee Benefits: Private Healthcare

19:58 Employee Benefits: Critical Illness Cover

25:26 Business Owner Protections: Key Person Cover

27:54 Business Owner Protections: Shareholder Protection

34:37 Conclusion and Contact Information

Connect with Gary Lucas on LinkedIn by clicking here – https://www.linkedin.com/in/garyjlucas

Connect with Daniel Welling on LinkedIn by clicking here – https://www.linkedin.com/in/daniel-welling-54659715/  

Connect with Adam Morris on LinkedIn by clicking here – linkedin.com/in/adamcmorris

Visit The MSP Finance Team website, simply click here – https://www.mspfinanceteam.com/  

We look forward to catching up with you on the next one. Stay tuned!

We created It’s a Numbers Game Podcast to help MSP owners learn and understand how to build and maintain a financially healthy MSP business. In this podcast series, MSP business owners like you will learn the fundamental steps, the tips and tricks, the dos and don’ts to achieve MSP financial growth. 

In this episode, Daniel and Adam are joined by Ian Vickers from Met Cloud for a deep dive into the evolution and future of security operations centers (SOCs) for managed service providers (MSPs). Ian discusses the journey from traditional MSP environments to developing innovative AI-driven SOC solutions that could disrupt the current market. Key topics include the challenges of early cloud security, the development of AI tools to augment SOC analysts, and the introduction of cost-effective AI solutions for smaller clients. They also cover the importance of standards and accreditations, the necessity of thorough client education, and the critical role of effective incident response planning. The discussion underscores the evolving landscape of cybersecurity and the opportunities it presents for MSPs to provide more advanced and efficient security services.

00:00 Introduction and Greetings

00:25 Ian's Background and Early Cybersecurity Journey

01:17 Challenges in Cloud Security and Early SOC Development

03:15 Innovations in AI for Security Operations

05:21 Transition from MSP to Technology Provider

07:57 Understanding SOC and Security Standards

12:54 Client Needs and Risk Management

25:13 Cyber Incident Response Planning

31:22 Final Thoughts and Shameless Plug!

Connect with Ian Vickers on LinkedIn by clicking here – https://www.linkedin.com/in/ivickers/

Connect with Daniel Welling on LinkedIn by clicking here – https://www.linkedin.com/in/daniel-welling-54659715/  

Connect with Adam Morris on LinkedIn by clicking here – linkedin.com/in/adamcmorris

Visit The MSP Finance Team website, simply click here – https://www.mspfinanceteam.com/  

We look forward to catching up with you on the next one. Stay tuned!

In this episode, Paul from Knight Corporate Finance discusses the firm's approach to advising technology companies on mergers and acquisitions, funding, and exit planning. He highlights the importance of understanding business objectives and the dynamics of the current market. Paul provides advice for both buyers and sellers, focusing on factors like business size, customer profile, and funding readiness. Additionally, he talks about the state of the market, the impact of interest rates, and offers tips for companies preparing for transactions. The episode also introduces Knight's online scorecard tool for assessing transaction readiness.

00:00 Introduction and Welcome

00:11 Knight Corporate Finance Overview

01:33 Understanding the Buy-Sell Dynamics

03:28 Best Practices for Buyers

05:43 Funding Insights and Minimum Requirements

12:41 Market State and Trends

18:34 Valuation Factors and Key Drivers

24:25 Transaction Readiness Scorecard

27:18 Final Thoughts and Advice

Connect with Paul Billingham on LinkedIn by clicking here – https://www.linkedin.com/in/paul-billingham-5a89591/

Connect with Daniel Welling on LinkedIn by clicking here – https://www.linkedin.com/in/daniel-welling-54659715/

Connect with Adam Morris on LinkedIn by clicking here – linkedin.com/in/adamcmorris

Visit The MSP Finance Team website, simply click here – https://www.mspfinanceteam.com/  

We created It’s a Numbers Game Podcast to help MSP owners learn and understand how to build and maintain a financially healthy MSP business. In this podcast series, MSP business owners like you will learn the fundamental steps, the tips and tricks, the dos and don’ts to achieve MSP financial growth. 

We look forward to catching up with you on the next one. Stay tuned!

In this episode, Peter Bell discusses his journey in the Managed Service Provider (MSP) industry, highlighting his longstanding business in Melbourne and his 14-year experience with offshoring in the Philippines. The conversation covers various topics crucial for MSPs, such as the benefits and challenges of staff augmentation, the shift towards remote support, and the increasing acceptance of remote teams due to the COVID-19 pandemic. Peter also emphasises the importance of maintaining strong client relationships, the evolving role of MSPs within their clients' businesses, and the opportunity and risk posed by globalisation. The episode wraps up with insights into making an MSP business profitable and the critical balance between local and international service delivery.

00:00 Introduction and Welcome

01:10 Peter's Background and MSP Business

01:37 Offshoring Business in the Philippines

02:25 TechnoGlobal's Staff Augmentation Model

05:44 Challenges and Benefits of Offshoring

07:29 Impact of COVID-19 on Business Growth

12:13 Globalisation of MSPs

16:38 Maintaining Client Relationships

20:10 Balancing Local and Offshore Teams

24:52 Training and Development

26:07 Evolving Role of MSPs

31:39 Conclusion and Shameless Plug

Connect with Peter Bell on LinkedIn by clicking here – https://www.linkedin.com/in/techno-pete/

Connect with Daniel Welling on LinkedIn by clicking here – https://www.linkedin.com/in/daniel-welling-54659715/

Connect with Adam Morris on LinkedIn by clicking here – linkedin.com/in/adamcmorris

Visit The MSP Finance Team website, simply click here – https://www.mspfinanceteam.com/  

We created It’s a Numbers Game Podcast to help MSP owners learn and understand how to build and maintain a financially healthy MSP business. In this podcast series, MSP business owners like you will learn the fundamental steps, the tips and tricks, the dos and don’ts to achieve MSP financial growth. 

We look forward to catching up with you on the next one. Stay tuned!

In this episode, Jane discusses the paradox within the Managed Service Provider (MSP) industry where companies readily outsource IT management but hesitate to outsource recruitment. The conversation delves into the inefficiencies and costs of in-house recruitment, the value of specialized recruiters, and the significance of cultural and technical fit in hiring. The challenges of the recruitment industry, perceptions of integrity, and effective strategies for MSPs to select and collaborate with recruiters are also highlighted. Jane shares insights from her extensive experience and provides thoughtful perspectives on future trends in recruitment and workforce management.

00:00 Introduction and Episode Title Reveal

00:09 The Irony of MSPs and Recruitment

01:44 Breaking Down Recruitment Costs

02:47 The Recruitment Process: Steps and Challenges

05:43 The Role of Recruiters and Industry Perception

08:41 Ethics and Integrity in Recruitment

17:29 Finding the Right Fit: Behavioural and Technical Skills

19:52 Long-term Planning and Recruitment Strategies

22:25 Counter Offers and Salary Negotiations

25:23 In-house Recruitment vs. External Recruiters

27:11 Future of Recruitment in a Global Workforce

29:44 Conclusion and Shameless Plug

Connect with Jane Matthews on LinkedIn by clicking here –  https://www.linkedin.com/in/janematthewsitrecruiter/

Connect with Daniel Welling on LinkedIn by clicking here – https://www.linkedin.com/in/daniel-welling-54659715/

Connect with Adam Morris on LinkedIn by clicking here – linkedin.com/in/adamcmorris

Visit The MSP Finance Team website, simply click here – https://www.mspfinanceteam.com/  

We created It’s a Numbers Game Podcast to help MSP owners learn and understand how to build and maintain a financially healthy MSP business. In this podcast series, MSP business owners like you will learn the fundamental steps, the tips and tricks, the dos and don’ts to achieve MSP financial growth. 

We look forward to catching up with you on the next one. Stay tuned!

In this podcast episode, Robin from Canalys joins the show to discuss the MSP sector. Robin provides an overview of Canalys, an independent research firm focused on the channel, and explains their role in gathering and analysing data to present trends and insights. The conversation delves into the classification and growth of MSPs globally and in the UK, the different models MSPs use, and the financial metrics crucial for MSP success. Robin also shares valuable advice for MSPs on customer selection, optimizing service offerings, and future growth projections, particularly in cybersecurity services.

00:00 Introduction and Welcome

00:39 Overview of Canalys

02:03 Geographic Breakdown of Partners

03:50 Classifying MSPs and Revenue Breakdown

12:12 Kaseya's Impact on the MSP Market

20:41 Trends in the MSP Marketplace

27:33 Future Projections and Growth Areas

33:29 Call to Action and Conclusion

Connect with Robin Ody on LinkedIn by clicking here – https://www.linkedin.com/in/robin-ody-b410a730/

Connect with Daniel Welling on LinkedIn by clicking here – https://www.linkedin.com/in/daniel-welling-54659715/

Connect with Adam Morris on LinkedIn by clicking here – linkedin.com/in/adamcmorris

Visit The MSP Finance Team website, simply click here – https://www.mspfinanceteam.com/  

We created It’s a Numbers Game Podcast to help MSP owners learn and understand how to build and maintain a financially healthy MSP business. In this podcast series, MSP business owners like you will learn the fundamental steps, the tips and tricks, the dos and don’ts to achieve MSP financial growth. 

We look forward to catching up with you on the next one. Stay tuned!