EP016 - 3 Tips for MSP Financial Management with ConnectWise

Welcome to the sixteenth episode of It's a Numbers Game Podcast by The MSP Finance Team with Daniel Welling and Adam Morris. 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 we are joined by Dan Scott and Sean Lardo from ConnectWise and surface our top 3 tips for financial management;  Starting with 'revenue velocity' from quoting and wining business through to accurate and timely billing, crucial to quantity and quality of cashflow.  Cash then becomes the next focus, where Dan advises tightening up on the granting of credit to customers and the payments approved to suppliers, and Sean highlights the importance of being open to creative new business opportunities.  New opportunities could be starting relationships with younger businesses so you are best placed for when they are ready for your core managed service and finally co-managed and working with internal IT teams.  In summary, sell more, control costs and be more efficient...You have to listen for the details though!    Finally, check out 'Modes' ahead of the next episode with Dan & Sean - https://www.connectwise.com/resources/modes-theory Connect with Dan Scott on LinkedIn by clicking here - linkedin.com/in/danjpscott Connect with Sean Lardo on LinkedIn by clicking here - linkedin.com/in/seanlardo 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!