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Dear <<First Name>>,
This is the second in a series of recaps of the Keynote Presentation from the ConnectWise 2018 IT Nation conference, and this recap will focus on the comments from Arlin Sorenson, VP of Peer Groups at ConnectWise. The ConnectWise IT Nation conference is one of the most important and valuable MSP conferences for our industry. Just in case you missed it (or didn’t take good notes!), I wanted to recap my notes from the keynote address. I hope that you find them valuable, and feel free to share them with members of your team that were not able to attend. (We’ll cover portions presented by Craig Fulton and Arnie Bellini in separate documents.)
THE ENTREPRENEURIAL JOURNEY
Arlin Sorenson (former CEO of HTG, and now VP of Peer Groups at ConnectWise) spoke on the topic of ‘business maturity’ during the 2018 IT Nation keynote. ConnectWise recently acquired HTG, and the peer group division is now known as “IT Nation EVOLVE”. Arlin described the mission of his group as helping entrepreneurs succeed on their ‘journey’. He described the journey as being comprised of several steps:
- “Muscle and Feel”: The entrepreneur drives the entire process in this step. Many entrepreneurs are ‘accidental entrepreneurs’ so they may not have the requisite tools and skills at this stage. They overcome obstacles via their passion and persistence in building the business. Arlin noted that only 6% of all U.S. businesses ever grow larger than 10 employees. They reach the limits of the entrepreneur’s energies, then fail to grow in size and success.
- Manage to “What Good Looks Like”: At this stage you begin to compare YOUR results to those of your peers and industry benchmarks. You may have thought that you were doing quite well when, compared to others in your industry, you still have a long way to go. This stage is characterized also by beginning to create plans in areas like Legacy, Leadership, Life and Business.
- Build Teams & Create Strategy: The next level involves being more proactive in building talent and longer-term strategic planning. By ‘keeping the end in mind’, the entrepreneur is better-equipped to significantly improve results. Arlin’s group uses a tool called “Strat Op” to help in this planning and organizational endeavor.
MERGERS & ACQUISITIONS
Arlin then moved on to discuss the importance and increased popularity of ‘mergers & acquisitions’ in the MSP space. Over 70% of MSPs plan to be involved in M&A activity in the next 5 years. ConnectWise will be launching “M&A Peer Groups” (both ‘buy’ and ‘sell’ side) beginning in Q1-2019. They will also host a webcast titled “Leading Towards Legacy” on December 14 (www.ConnectWise.com/PathToSuccess).
CONNECTWISE RETURN-ON-INVESTMENT (ROI)
Arlin wrapped up his remarks by discussing the recent study called “The Economic Impact of the ConnectWise Platform”. The results of this study showed an initial payback in 3 months, and an overall ROI of 194%. You can download your own copy of the study at:
https://www.connectwise.com/resources/case-study-forrester-tei-of-connectwise
Hopefully you found this recap to be useful. If you’d like to view the entire keynote presentation, you can find it at: https://www.youtube.com/watch?v=csjMxc4q7EM
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ABOUT NEW HAVEN TECHNOLOGIES
At New Haven Technologies, we provide access to information so that you can make data-driven, informed decisions about your MSP business. Our service is provided on a month-to-month basis, and starts with a free two-week trial on your network with your data. We also include customized reporting, dashboards and SmartPhone reports, all at no additional cost as part of the service. If you are interested in learning more, just “reply” to this e-mail, or you can request a personal web demo of the service at http://newhaventech.com/request-a-web-demo/
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Best Wishes for continued success in building your MSP practice!
Dave Keller
Founder and Chief Consulting Officer
New Haven Technologies, LLC
Keller.D@NewHavenTech.com
(765) 335-KNOW
Stop Guessing. Start Knowing.
www.NewHavenTech.com
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Looking for CLOUD BRIEFING SERVICE (CONNECTWISE CLOUD) Beta Testers
At New Haven, we provide solutions that allow you to work ON your business. But up until now, you had to be using ConnectWise "on-premise" to benefit. NO MORE! We are pleased to announce that we are BETA TESTING our "CLOUD BRIEFING SERVICE" which works with CONNECTWISE CLOUD! Beta testers will get access to the service at no charge during the beta testing. This includes access to reports that allow you to 'stack-rank' your current clients based on profitability, profit margin, and many other metrics.
Interested in being a beta tester of the Clould Briefing Service?
E-mail: Beta@NewHavenTech.com
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