How Adding A New Ta This MSP Increase His MRR To Nearly $ 45,00
Company : Xact IT Solutions
Founded : 2004
Bryan Hornung , Founder , Xact IT Solutions
Headquartered : Marlton , New Jersey
Geographic Market : The United States
Top Growth Indicator : Sales
YoY % of Growth : 20 %
Founder : Bryan Hornung
What Are The Top 3 Metrics You Use To Measure Your Business And Why ?
We look at sales to make sure we are adding to our funnel and the sales process is working . Next , we want to make sure we are being efficient with our money . Part of that is looking at our labor efficiency ratio and working on that every month to improve that number . Another big indicator , from our customer service standpoint , is what we call our reactive hours per endpoint . This is an indicator of whether we ’ re doing a good job for our clients . If a number starts to skew downward for a particular client , we can dive into that and make corrections from a high level .
What Is A Top Lesson You Had To Learn That Allowed You To Kick-Start Growth In Your Business ?
I had to learn how to delegate and get out of my own way . The more I delegate , the more we grow . Also , we had to learn to create a process , an environment , and a culture that will , when we do insert somebody in a role to take those duties on , allow an employee to be successful in that role . There are going to be mistakes and failures . I ’ ve learned not to let failure prevent you from continuing on that path of building a team and delegating . It ’ s easy to have a mindset that you can do everything better yourself . But training and delegating people to do the roles in your company is what leads to growth . I consider good leaders to be good coaches . If you ’ re a good leader , you ’ re a good coach . Being a good leader means you can bring people up . You can teach them a new skill that allows them to create more wealth and more income for themselves . If you ’ re not helping the other people around you or think you are the only one who can handle it or get it done right , it is counterproductive because you can only do that for so many people before you run out of bandwidth . Embrace the idea that you ’ re a coach . Your job is to coach and skill people up by teaching them how you did it . Don ’ t get frustrated if they can ’ t do something right away . If you keep your own emotions in check and understand nobody ’ s perfect out of the gate , have a coachable person in front of you , and are willing to coach them , then you have a recipe for success .
What Would You Say Was The Single Secret To Your Success This Past Year ?
It was definitely our decision to move into the mid-market . We traditionally built the business on SMBs . With cybersecurity and the opportunities we saw , we thought it was a good idea to start targeting mid-market companies . We shed 20 % of our revenue from the SMB market in the first half of 2022 . We were still at zero revenue from the mid-market by August 2022 , but by the back end of 2022 , it really
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