EP072 – Knowing Your MSP Numbers with Adam Morris & Ian Luckett

<div style="font-weight: 400;"> <p><span data-contrast="auto">As usual, we kick off the episode with Adam sharing with us about who he is, what he does, and who he helps. Adams goes us through his journey from owning an MSP to running The MSP Finance Team, a company that helps MSP owners manage money.</span><span data-ccp-props= "{"201341983":0,"335559740":259}"> </span></p> </div> <div style="font-weight: 400;"> <p><span data-contrast="auto">Adam and I quickly chat about how managing finances well in an MSP business is as important as the operations. Adam also shares that the most transformative thing that happened in their business was educating and bringing up to speed the service directors and service team members from the financial perspective.</span><span data-ccp-props= "{"201341983":0,"335559740":259}"> </span></p> </div> <div style="font-weight: 400;"> <p><span data-contrast="auto">Then, I ask Adam what things MSP owners should consider in building a bulletproof financial system. He says that building a solid foundation is the key and getting the basics right is the first step. Getting solid data and having solid month-end processes which means looking at the data on a month-by-month basis, is the key thing.</span><span data-ccp-props= "{"201341983":0,"335559740":259}"> </span></p> </div> <div style="font-weight: 400;"> <p><span data-contrast="auto">We then continued on to talk about reporting. Adam strongly believes that having the insight into what’s actually going on with your MSP numbers can really help everything you know. You have the foundation and data, you’re all set. The data is there to help make the right decisions.</span><span data-ccp-props= "{"201341983":0,"335559740":259}"> </span></p> </div> <div style="font-weight: 400;"> <p><span data-contrast="auto">For the highlight of this episode, I then ask Adam about some tips and things to look out for MSPs of less than £250K turnover, between £250K and £1 Million turnover, and the ones with more than £1 Million turnover. Here are David’s tips:<