SMB Community Podcast: Business Advice for Small MSP Owners

Another fun show! Please give us your feedback. And share it if you love it!

We start with a couple of major stories and finish with an eye on the future.

Topic 1: EU says their privacy laws are not being enforced appropriately in the U.S.

To make that point, a random group of hackers broke into a series of Twitter accounts. Question one: Are we doing enough to protect data privacy? Question two: Is it possible to get this right?

Can you, as a solution provider, actually do a decent job to protect your clients?

Links:

https://www.washingtonpost.com/world/europe/top-eu-court-ruling-throws-transatlantic-digital-commerce-into-disarray-over-privacy-concerns/2020/07/16/d2c0fe06-c736-11ea-a825-8722004e4150_story.html

https://www.theverge.com/interface/2020/7/15/21325708/twitter-hack-global-security-crisis-nuclear-war-bitcoin-scam

Topic 2: “Ethical Explorer Pack” for developers.

This is a cool offspring from the "Ethical OS" project. Basically, programmers wanna program. They want to create cool programs, games, and so forth. And sometimes they accidentally produce unintended consequences related to ethics and human interaction. In the best of worlds, this might have to do with blind spots. But sometimes the bias is built into the data and the processes themselves.

Basically, this is an attempt to open developer's view of the world. At a minimum, keeping an eye on ethics is good for everyone.

Link:
https://www.wired.com/story/ethics-guide-tech-rewritten-workers/

Topic 3: Thinking about the quote from William Gibson: “The future is already here; It’s just not widely distributed.”

As we look at all the "Covid" related changes, there's lots of speculation about how much of the change will stay. We start with the question, how much of the change we’re seeing is not new at all? A great example is Zoom. Many of us have been using Zoom and similar tools for more than a decade. What's "new" to one group is not new to everyone.

Some of this is just cutting edge technology that’s just in the right place at the right time. Some is established technology that has just been waiting for an opportunity to shine. But perhaps most of it is very well established technology that has been proven in niches and is suddenly visible to a wider audience.

We touch a bit on all of our favorite topics: RMM, remote tech support, food delivery apps, AI, etc.

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That's it for this week. Please give us a like, thumbs up, or whatever other goodness you can.

Comments and questions welcome.

:-)

Karl and Mike get together to talk about some simple steps to lower your risks and preserve your lifestyle as a smart managed services provider.

Mike Semel is a noted thought leader, speaker, blogger, and best-selling author. He is the President of Semel Consulting, focused on compliance regulations; cyber security; and Business Continuity planning. Mike has also developed Semel Systems, a series of cybersecurity and compliance training and go-to-market systems for MSPs.

Links: www.mikesemel.com

About the SMB Community Podcast: Weekly business advice for small MSP owners from Amy Babinchak and James Kernan of the Small Biz Thoughts community — MSP sales, MSP pricing and agreements, hiring and leading an MSP team, MSP operations, selling your MSP, and AI for small MSPs. Produced by MSP Radio. More for MSP owners at smallbizthoughts.com.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Topic 1: AI - Take One: Fighting Covid on mass transit

In Barcelona's subway system, AI is helping regulate airflows to fight the spread of Covid. Of course, that has implications for other diseases and other mass transit. We discuss what this means for you.

Links:

https://thenextweb.com/shift/2020/07/07/how-barcelona-is-using-ai-on-its-subway-trains-to-curb-spread-of-covid-19-syndication/

https://www.erinbromage.com/post/flying-in-the-age-of-covid-19?postId=5ebbf881fa49b100172cdf76

Topic 2: AI - Take Two: Creating Fake Journalists to Write Fake Editorials

This is the kind of weirdness most of us weren't expecting from Artificial Intelligence. Now, on top of fake picture, fake profiles, and even fake videos, we now have entirely made-up background stories and profiles, with all the details.

This affects many things, including, potentially, your client's reputation management. And, of course, the possibilities for phishing and related attacks is almost unbelievable.

Links:

https://www.theverge.com/2020/7/7/21315861/ai-generated-headshots-profile-pictures-fake-journalists-daily-beast-investigation

https://thispersondoesnotexist.com/

Topic 3: Life after the Pandemic . . . Social Media Responsibility

Once again, we look into the self regulation of social media. In the new again . . . Twitter, Facebook, TikTok, and more.

:-)

Karl caught up with his good friend Rayanne this week to talk about your IT Business' Finances, updates to the PPP Loans, and your chart of accounts. Rayanne is the owner of ABC Solutions, LLC in Clearwater, Florida providing complete accounting, business, and tax consulting services to IT Professionals in the United States and abroad. Pick up some tips about tracking sales tax vs use tax and more, plus where you can get Rayanne's processes for these and more.

Rayanne's 5-Week class started on July 7 - you've only missed one week and it's recorded! Her classes are always updated with the latest information and packed full of handouts and excellent information. Sign up here: https://www.greatlittleseminar.com/course/financial-processes-for-the-i-t-services-firm/

More About Rayanne:

Rayanne is the owner of ABC Solutions, LLC in Clearwater, Florida providing complete accounting, business, and tax consulting services to IT Professionals in the United States and abroad. She is a Certified QuickBooks Professional Advisor in QuickBooks Desktop and Online versions and offers courses and blogs tips on QuickBooks regularly. She holds a degree in Accounting and is enrolled to practice before the Internal Revenue Service.

Rayanne is also a partner with Sell My MSP. A listing service helping buyers and sellers of IT firms find each other. With expertise in managed service providers, Sell My MSP provides unique guidance through the merger/acquisition process including business valuation services.

Her commitment to her profession takes her out of the office, too. Rayanne is a former member of the Executive Council for Advancing Women in IT at CompTIA as well as the Member Advisory Board for The ASCII Group. She teaches finance courses through Bigger Brains and Great Little Seminar to help IT Professionals understand their business finances and make appropriate management decisions. Rayanne also provides information through social media such as the PSA Impact Podcast series, YouTube Channel, and publishing articles through various IT Channel periodicals.

Links:

https://www.psaimpact.net/ https://www.abcsolutionsfl.com/ https://www.sellmymsp.com/

About the SMB Community Podcast: Weekly business advice for small MSP owners from Amy Babinchak and James Kernan of the Small Biz Thoughts community — MSP sales, MSP pricing and agreements, hiring and leading an MSP team, MSP operations, selling your MSP, and AI for small MSPs. Produced by MSP Radio. More for MSP owners at smallbizthoughts.com.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Topic 1: Regulations are real in Louisiana.

Now moving to a city and state near you.

Also, check out the new page on Facebook: https://www.facebook.com/groups/3011459202301532 (MSP Regulation and Legislation).

Topic 2:Face-changing technology . . . with a nod to what this means for facial recognition.

And maybe a quick discussion of Pandora’s box. Can we keep the genie in the bottle?

Related Link:
https://gizmodo.com/disneys-developed-movie-quality-face-swapping-technolog-1844202003

Topic 3: Life after the Pandemic . . . Revisit Social Media trying to figure out if (how much) they should limit content ?

Of course we have opinions!

James Kernan met with Eric Beller about building residual income. Eric Beller is a seasoned sales leader with executive experience in managing business development and support operations for decentralized sales teams and distributors. He is senior vice president of sales for Sandler Partners, America's Fastest Growing Distributor of Connectivity & Cloud Services. In this role, Beller oversees recruitment and management of the company's network of sales partners, including agents, VARs and MSPs, which are selling voice, data, mobility, colo, cloud, security and continuity services to businesses nationwide.

Looking to Partner with MSPs so we can add residual + upfront income for the clients they service today. Partner up with Sandler Partners to sell cable, fiber, wireless, VoIP, and various cloud solutions and earn residual income. Its free and easy to sign up. See why thousands of MSP's use Sandler Partners today.

Links:

https://www.sandlerpartners.com/ebeller

About the SMB Community Podcast: Weekly business advice for small MSP owners from Amy Babinchak and James Kernan of the Small Biz Thoughts community — MSP sales, MSP pricing and agreements, hiring and leading an MSP team, MSP operations, selling your MSP, and AI for small MSPs. Produced by MSP Radio. More for MSP owners at smallbizthoughts.com.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Topic 1: Limit AI Research before it happens?

Wired reports that an AI algorithm that "predicts" criminality based on a facial recognition is drawing ire. Meanwhile, some AI experts are calling to stop this line of research altogether.

https://www.wired.com/story/algorithm-predicts-criminality-based-face-sparks-furor/

https://www.theverge.com/2020/6/24/21301465/ai-machine-learning-racist-crime-prediction-coalition-critical-technology-springer-study

Topic 2: Apple buys an RMM

. . . Will this affect us? (and Dave notes his predictions along these lines).

Note also Amazon’s new use of the term "managed service " with regard to their Honeycode project. Described online as a "managed service" you can buy.

See . . .

https://www.channele2e.com/investors/mergers-acquisitions/apple-buys-fleetsmith/

https://www.businesswire.com/news/home/20200624005803/en/AWS-Announces-Amazon-Honeycode

Topic 3: Life after the Pandemic . . .

Will we actually get to attend anything in October?

We discuss probabilities . . . and have some differences of opinion.

:-)

Co-hosts Karl Palachuk and Amy Babinchak got together to discuss the use of Retainers in the MSP space. Amy shares exactly how they are applied in her business, the freedom they allow, and how she deals with the question of "roll-over hours."

And more - there's always more when these two get together.

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Amy Babinchak is the owner of three IT related businesses: Harbor Computer Services, Third Tier and Sell My MSP and has been working in small and medium business IT field for more than 20 years. She's a technical person with advanced skills in networking design, management and implementation. She values technology for what it does for people and the success it brings to business.

Amy is also a Microsoft MVP for 14 years, has received numerous leadership awards and is a valued member of various boards. Amy is a new member of the executive council of the Managed Services community at CompTia.

Check out Amy's Facebook group below – This is her ransomware and security group. Private and on-topic always. Subscribe to the blog, too. Use the Helpdesk. "We only do work for other IT pros."

Links: https://www.facebook.com/groups/ThirdTier https://www.thirdtier.net/

About the SMB Community Podcast: Weekly business advice for small MSP owners from Amy Babinchak and James Kernan of the Small Biz Thoughts community — MSP sales, MSP pricing and agreements, hiring and leading an MSP team, MSP operations, selling your MSP, and AI for small MSPs. Produced by MSP Radio. More for MSP owners at smallbizthoughts.com.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Our sponsor today is PC Matic - Thank you!
More info at https://pcmatic.com/msp

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Topic 1: Coming boom for freelancers?

Part of the rhythm of the economy is that economic downturns result in new opportunities. This time, the question is, will this help independent IT consultants?

Note: When decision makers are looking for special skills, they would rather hire an outside source rather than train someone in-house - even if cost is not a factor.

Related Link:
https://www.forbes.com/sites/elainepofeldt/2020/06/12/the-coming-boom-for-freelancers/

Topic 2: IT Glue released their 2020 Global MSP Benchmarks.

A few notes.
Around half (51%) of MSPs saw monthly revenue decreases as a result of the coronavirus pandemic.

Additionally, more than a quarter (29%) of MSPs saw their accounts receivable increase, showing more clients could not meet contract deadlines to pay for services.

This survey did show a jump of prioritization of cybersecurity, from 27% of respondents in Feb to more than 50% in May.

Old priorities were wiped away, replaced not only by cyber security but with customer churn, price pressure, and a second lockdown.

Link:
https://www.itglue.com/news/itg-global-msp-benchmark-2020/

Topic 3: Life After the Pandemic . . . Increases in "Agile."

We look at the business of the IT channel in the post-quarantine world … specifically how channel partners need to adapt the way they plan and operate, and how they engage their vendor partners.

Things look like they're going to be a lot more Agile. If you're not in project management, you're still going to have to learn the terminology of PM very soon.

Related Link:
https://blogs.sw.siemens.com/partners/old-business-planning-out-agile-approach-in/#comment-13

:-)

Karl sat down with Chris Timm of Sondela Consulting and Autotask PSA consultant. Listen in as they dive into the roll of PSAs in your Managed Services business, setting up Autotask for success, and the importance of tracking time.

Chris started Sondela Consulting to focus on his passion for working with MSPs to help them become more successful and more efficient by understanding and utilising their tools more effectively. Sondela is a Zulu word for "Advance" which is a nod to Chris's Southern African roots and is an apt name with his number one goal being to help MSPs gain a deeper understanding of their investment and realise profitability much quicker.

The 14 years of experience Chris gained through previously running an MSP business combined with working at Autotask has given him greater insight and understanding into both sides of the industry and how a PSA tool can provide efficiencies and profitability when implemented properly. Chris can take you from zero to hero with your PSA tool, using it to its full potential, and maximising every aspect of your business to ensure that every department is working in harmony. In a nutshell, Chris's passion is to turn your MSP into a "well-oiled" machine.

Chris co-hosts the PSAImpact podcast, a PSA independent series designed to help MSPs worldwide to get the most from their PSA tool and manage their business.

Social media links are: Twitter @tegwin @sondelaconsult

Facebook @sondelaconsulting

Instagram @sondelaconsulting

https://www.sondelaconsulting.com/ [email protected]

PSAImpact:

http://psaimpact.net/ Twitter: @PsaImpact Facebook: https://www.facebook.com/groups/PSAImpact/

About the SMB Community Podcast: Weekly business advice for small MSP owners from Amy Babinchak and James Kernan of the Small Biz Thoughts community — MSP sales, MSP pricing and agreements, hiring and leading an MSP team, MSP operations, selling your MSP, and AI for small MSPs. Produced by MSP Radio. More for MSP owners at smallbizthoughts.com.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.