Information Webinar – The First Year MSP

There are many challenges – and a thousand questions – that need to be addressed when you start a new business. If your business it IT consulting, you’re in luck! There are also many resources and a great community ready to support you and help you do it all better.

Join us for a free webinar on making the most of the first few years running your new IT business. Featured content: The 11 worst pitfalls of new businesses.

First Year Msp Award

Introduction to the First Year MSP program

from Small Biz Thoughts

 

Recorded January 2025

In my annual address, I introduced the First Year MSP program. My team and I are looking forward to working with you and a small group of other highly motivated business owners.

Let’s be honest: All business involves some struggle. But that doesn’t mean you have to go it alone. You can ask for help and get through the tough parts a lot faster.

All of us with a gray hair or two (ahem) can tell you lots and lots of stories about the mistakes we’ve made. Of course, mistakes are part of learning and growing. You start out making mistakes with technology. You know you’re a business owner when you find yourself making mistakes with clients, finance, and employee! You will make mistakes. That’s not the variable.

But you can make a lot fewer mistakes by learning from the experience of others! That’s what communities, training, coaching, and education are all about. You really can speed up the process by learning from others. You just have to commit and execute!

Join us for an educational seminar about the best ways to maximize success in the first few years of running your IT business. Free and open to all.

– Karlp

🙂

Full Transcript:

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Welcome everybody. I see several people logging on. Now, Dan, Sonny, Kara, Gabriella, thank you all for being here

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and we are pretty excited about a new program that we have going on at the small business thoughts technology community. This will be an introduction to that. And we’re gonna talk. Also, we’re gonna have. I always have content. So we’re we’re also gonna talk about some of the big pitfalls

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of starting and running a business, particularly in it, and how you can avoid them.

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My name is Karl, and some of you know me. Some of you do not. I appreciate the people who don’t really know me, but who’ve shown the faith to show up for a webinar?

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So I have written many books primarily focused on helping it, consultants to be more successful in their businesses.

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just a little bit of background on me. So I started with computers way back before they were remotely personal. So I started with mainframes at the University of Michigan, and and moved into smaller computers, which only took up a small room, maybe the size of 2 bedrooms in a modern house

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and eventually worked my way into windows. The windows, environment, Novell and other smaller systems, and when I started doing, dedicated it, consulting.

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I quickly moved to doing maintenance, focused support signing contracts and eventually getting prepaid. And those became the basic elements of what many people today call managed services. I also helped a lot of people move to cloud services

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and my book manage services in a month is one of the most. In fact, it’s the most popular book on manage services. It’s sort of the the front runner at all times. So you can Google it or go to Amazon, or whatever it will not be hard to find it. If you put in the term, manage services.

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I have a systems approach to running a business, and I have a highly focused process approach to running an it business. I believe processes and procedures will save your business. If you just say I’m gonna stop being random and start being more systematic everything in your business is going to get better quickly.

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So I also believe that you need to spend a lot of time. And we’re going to talk about this in a minute. Focused on the business side of your business. If you are just a technician great, you should absolutely work for somebody else. If you’re going to run a business, you need to focus on the business part of the business a lot of the time.

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So in 2018 we released the small business thoughts technology community. And

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it has been very popular since then. We have a lot of members who join us for regular monthly meetings and monthly breakouts. We’re gonna talk a little bit about that. And I also created the It Service Provider University, and that is now in its 11th year.

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and we have a whole series of classes that are 5 weeks each focused on it services.

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So today we’re gonna do a little bit of a an intro to the 1st year Msp, program a little bit about small business thoughts and it service Provider University. We’re gonna spend a lot of time on the 11 pitfalls you have to avoid in order to be successful in your business and making sure that you are alive to enjoy making money in your business.

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And so we’re gonna talk about that. And then we’re gonna have Q&A at the end.

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So I was looking back way back to the beginning. So 2018, when we were getting ready to launch Kara and I spent a lot of time

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loading things into the community, getting it ready to launch. And you know it would be 50 things a day, 20 things a day, you know. Oh, have we got all the classes in. Have we got all the videos in and so forth. So Kara is our community manager, and she helps us run this ship as smoothly as possible. She is my right arm.

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and really makes everything in this business just a little bit easier for me.

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and she will not argue with me on that. I trust me she will say No, no, she does all the work. So and so many of the people who are engaged in the community have reached out to Kara, separate from me, and found her to be a tremendous resource. So we have a great community manager and our our community is built around helping you to be as successful as possible.

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and that means running your business well, but also trying new things, looking to the future and talking to other community members about what they’re doing and how everybody else is improving their lives and dealing with the new challenges, you know, in 2018 nobody was talking about AI

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as a thing you should be selling to your clients right? Or using to write your your blog posts or anything like that. So the world changes all the time in AI, and we change with it and the the community. The other members in the community help us get that.

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So whoops the 1st year Msp program

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is a a new program that we’re starting. And it’s focused on people who had started their their businesses in the last few years, not necessarily the the 1st year, but if you are absolutely new to to business, if you’ve never run a business before we want to help you out. If you started your business in the last few years, and you’re not sure you set everything up the way it’s supposed to be. We want to help you out. If you want to focus on the basics, you want to get back to saying, Okay.

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what should my offering look like? What should my contracts look like? What should what should I be doing here? What do I do with my 1st client? How do I get my 1st client? How do I? How do I hire my 1st employee? Should I be outsourcing or hiring?

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We want to help you with all of those things. And so the the program is going to be focused as part of our community. It will be a subset of the materials that are available inside of the bigger community.

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And you know, this is a challenge that everybody has to face all the times. There’s always a lot of new people, 25% of the It professionals in not just our community, but in all the world.

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Turnover every 3 years, meaning, so turnover has a different meaning in England. But here in the Us. What it means is they disappear and are replaced by fresh new business owners.

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Millions of people graduate from high school and college and and tech schools and become it consultants every year. Some people just plain get tired of working for a major corporation that they hate in a job that they hate for a person that they hate and decide. I can do this better, and they go out and start a business

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at any given time. 25% of those people are not profitable.

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25% of those people are not profitable.

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That’s huge.

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It is absurd to be charging a hundred $50 an hour, and not

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having profit at the end of the year.

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Nothing in any of your schooling, no matter where you went to school

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tells you that there is a worldwide community of people who are eager to help you to be successful.

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Too many people go out in the world with this weird, vague sense that it’s dog eat dog, and everybody has to fend for themselves. And you have to fight tooth and nail. And you know, don’t tell anybody about what you’re doing, because they’re the enemy, and they’re the the competition and blah blah. But if you go online on any forum. And you say, Hey, I’m I’m starting out, and I’m just wondering. You know. Does anybody have a contract I can copy

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immediately. People will jump on and say, some will say, Here, you can copy mine. Others will say, Do not do this, you you’re gonna download a copy that’s intended for fixing refrigerators, and it’s got absolutely nothing to do with it. And you need to. You need to get a good service that you know. Blah blah. Anyway, the point is, they’re going to give you good advice.

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right? And you know not everybody who is new to running an it. Business is new to technology by any means. I’m not. I’m not talking about people who are 18 and 22, although they’re absolutely some of the the people who are starting businesses.

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The the guy who bought my 1st it business when I sold it was my service manager. He was in his late thirties.

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and he’d never owned a business before now he’s on 3 or 4 of them right? And then, when he ended up selling it, the person who bought it was in his fifties, and had spent 20 years working for a company he hated, and he took his severance pay, and he used some of it to buy that business.

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so you can get into it at any point in your life. But again, that doesn’t mean that you know how to run a business efficiently.

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And you know I wrote a blog post a long time ago. You know, it’s okay to be very small. So if you, if you Google, you know or go to smallbizthoughts.com, and look at my blog, you’ll find it’s okay to be very small, but you have to do it right. There’s nothing wrong with being small, but you do have to be profitable, and you do have to not have a heart attack trying to run your own business.

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Now I’m always tell people sink or swim is not really a plan.

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and it’s not a great way to onboard consultants. It’s not a great way to train new employees, and, to be honest.

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it’s not a great way to run an it business or any other business.

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So you need to have a plan. You need to educate yourself. You need to take some time to do it right.

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And to be honest, I I believe, and I hope and I think that the 25% who are never profitable

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are the 25% who refuse to learn anything new. I’m out of school now. I graduated from high school, and I’m never going to take another class again. I’m never going to open another book. I’m never gonna read anything. I’m not going to put new stuff into my brain.

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Well, that is a great way to sink instead of swim.

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We want to do more than just have you sink or swim. We want you to start out heading in the right direction, knowing what you should be doing

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now, the global, it community has existed literally since computers came into existence.

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It used to be that people talked to each other by mail. And then it became email. And then it became community bulletin boards. And then it became, you know, news groups, and eventually it became the World Wide Web. And now there, there are stories from 15 years ago of people who were trying to help somebody out. Somebody had a problem and called somebody, and that person called somebody else. And I

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remember a great story. Susan Bradley one time was trying to help somebody out, and then it got to be like 11 o’clock at night, and she said, Can I hand you off to somebody else? And she then

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got somebody else on the call from Australia and turn the call over to them, and they helped for a while, and then they turned over the call. When it got to be late in Australia to somebody in England, and literally the help desk went around the world. You really really belong to a community, whether you’ve discovered it or not. That is global. And it’s filled with sincere people who want to help each other to be successful.

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I I don’t have it in this slide deck, but I have a slide that I show sometimes with secret sauce.

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and the secret sauce is in a clear glass jar with the label of ingredients on the back. In other words, there is no secret sauce. Everybody knows what you need to do to be successful. The question is, how do you do it when you’ve got a million things to do right? So how? How do you figure out how to be successful?

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So one of the things I believe in and always have is

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training. And in particular, when when this community started, there was not much dedicated, organized professional training for it consultants, especially those who focused on the managed service business model.

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And so small business thoughts, technology community has a lot of materials. We have recorded programs and videos and audio programs and slide decks and just an unbelievable amount of material that you can download. And we have people available to help you with it. We have ways to help you get

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pointed in the right direction.

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And so

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we’re creating the new program is gonna have a special focus of subset of our material that’s particularly awesome for making sure that you basically kind of do an audit of your business is everything set up the way it’s supposed to be. Have I done it right? Am I? Am I standing on a solid foundation so I can grow from here.

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We also partner with another site that I own, called it Service Provider University. Itspu has 26

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courses, now that are 100 dedicated to helping it consultants to be as successful as possible, and they’re taught by some of the best and brightest people in this industry, and some truly great instructors. All of them are 5 weeks long, so we offer 10 live every year, but we have a total of 26, and they are really filled with amazing information.

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If you join

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the 1st year Msp, program, you’re going to get one of those classes absolutely at no additional charge.

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So

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in the small business thoughts, technology community, we have all of my books, all of my checklists, all of the handouts from all of the books, all of the the calculators, and the excel spreadsheets. And there’s there’s so much material that people, you know, even though we have an awesome and amazing search engine that Kara created

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instead of searching. People say, Hey.

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well, I I just need some stuff about hiring in a new employee like, okay? Well, start with the the hiring roadmap. Right? We’ve got a focused amount of material just for that.

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And then over at Itspu. We have all the classes, all the 26 classes, and we have all of the resources. Those classes are dedicated to my motto, which is, nothing happens by itself. In other words.

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when somebody’s creating a new class, they have to fill out this lengthy form that tells us what are the objectives? What are you going to do in week? One. What are you going to do in week? 2. Nobody shows up unprepared at the last minute with just making stuff up as they go.

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and then we have quizzes, so that instructor should be teaching material that helps you pass the quizzes, the quizzes reinforce the material right? And then there’s homework. It’s not mandatory, but the homework is intended to say, take action, do something. If we’re talking about marketing, it’ll be okay. Go

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exercise this procedure to determine who your favorite clients are. How are you going to build your business around your favorite clients, and we walk people through that because you have to take action in order to make things

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get done.

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Now.

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in all of that, at Itspu and in our community, we acknowledge there’s too much information. It’s overwhelming. Even the people who are members are frequently overwhelmed by it.

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And so we’re gonna create this 1st year, Msp program laser focused on what you need to do a thorough audit of your business to go through things systematically and make sure that you’re doing everything the way you should.

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And you know we’re gonna talk in a minute about some of the the pitfalls, but too many people try to go it alone, and then they immediately become overwhelmed. And it’s really hard to make success in anything when you’re overwhelmed.

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So what I need you to do is

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to commit to taking action in your business if you’re new, or if you’ve been doing it a few years, and you decided that you really need to like, make sure that everything’s headed in the right direction commit to taking action right? Because ultimately there are a lot of pitfalls. And we’re gonna now learn. Talk about the 11 pitfalls that you’re most likely to find and how you should avoid them.

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The 1st one is failure to go all in.

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If you’re gonna be in a business. I’m sorry to tell you. Your side gig

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will always be your side gig

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until you say I’m going to do this full time. This is where I’m going to make money. This is how I’m going to feed my family. This is how I’m gonna to put money in the bank. You will not be able to run your business profitably and consistently.

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so that you can rely on it.

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You have to commit to your business, and then your business can commit to you. You cannot

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be successful. If you have one foot on the boat and one foot on the dock.

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you need to be all in on your business. And I’ve known people who have started a business.

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and they work evenings and weekends. And I’m like, Okay, but

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your clients are businesses. They’re closed on the evening they’re closed on the weekend. What what are you doing?

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You cannot build a business evenings and weekends. If your clients are closed evenings and weekends. So you need to run a full time business.

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and you need to commit to it. And you know there’s all kinds of analogies for this, but the bottom line is, you have to be all in in order to make your business go, and that’s a huge thing. Some of the people on this call are probably trying to run a business part time, and I will tell you right now. It will always be part time. It will never pay your rent. It will never be your full time business until you

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just cut the umbilical cord and grow up and create this business as your full time business. It’s far more than a job.

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A business supports you. A business fulfills your life.

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Pitfall number 2 is running out of cash.

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you know. If you think about profit is the food of your business. You can go a long time without food.

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especially if you got some starter money, but

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cash is oxygen, and you can’t live very long without oxygen.

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And you know I’ve I’ve had cash flow issues because of mistakes I’ve made in my business, you know, and I’ll fully admit that I am not perfect. This is a never ending challenge, and we all have it.

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But it’s a thing that you have to constantly pay attention to. You gotta run cash flow reports. You have to know, more or less how much money you expect to bring in in the next 2 weeks. The next 3 weeks between now and the next paycheck.

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When you have to know how much money is going to go out, you have to pay attention to this, because nobody else has the job of paying attention to the money inside your business. So running out of cash is a problem. Now.

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the people who have the biggest problem when they start out are the people who have a huge amount of cash? They got a they got a big business loan. They got a hundred $50,000 line of credit. They got a big severance. And so they say, Okay, I can run unprofitably. And you hear this all the time? I can run unprofitably for 3 months or 6 months.

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I don’t want you to think like that. I don’t want you to be unprofitable for one month. I want you to focus all of your attention on getting the 1st client. Then

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you can focus 90% of your attention on getting the second client, and then you can focus 80% of your attention on getting the 3rd client. You need clients. You need money coming in the door, and that’s why the managed service business model is so awesome.

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If you’re in break fix. When when I was in break fix, I’ll tell you this.

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Go way back turn of the century

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I was doing break, fix, and I was bringing in decent money. But

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even though I had clients who signed contracts on any given day. A client could say, we’re gonna skip the maintenance this month. I can’t afford it. I know you’re only gonna be here for 2 HI know you’re only gonna charge me $300, but I just we just don’t have the money. And so

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what could have been $300 becomes 0,

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and if one client can do it, every client can do it, and the reality is.

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if you’re running a break, fix model your expected revenue next month is $0 and 0 cents.

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And if you go to a bank and they say, Well, have you got clients? Yeah. Yeah. And and how much recurring revenue do you have? And you’re gonna say none.

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I believe I have faith that these people will let me into their office, and they will let me work for 2 h, and they will let me charge them money, and they will pay their bill.

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But with many services you get to say, well, I have 10 signed contracts. They’re each worth $500. That’s $5,000 a month, that is, by contract, something I can rely on at the 1st of the month, and it comes in on the 1st of the month, and there are no accounts receivable, and I know that I can budget that.

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Then the bank is going to say, Oh, okay, well, we’ll be happy to give you a loan if you need it.

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So managed services is absolutely the way to go, and it addresses one of the biggest problems which is you need recurring revenue so that you can rely on your cash flow

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pitfall number 3 is people who focus on the wrong things. And I, I’ve been

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doing videos and blog posts about this recently.

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I I know so many people, including people in our community who come to the meetings, and they say, Well, I’ve I’ve I’ve bought my professional services automation tool. I’ve signed up. I’ve got, you know, whatever 20 licenses I got 3 users. I have no clients.

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But now I have this big bill, and now I’m gonna go commit to an Rmm. With a thousand seats. I have no clients, I have no revenue. I don’t have one seat to deploy this on, but I get a much better price when I buy a thousand seats and I’m gonna get this Dns filtering tool and this hosting tool, and they have committed t(010) 203-$0000 worth of tools, and they have no clients.

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Do not focus on the wrong things. You have to 1st get revenue in the door. You 1st have to make sure that the cash begins to flow. If you don’t turn on the spigot, the bucket is never going to fill up, even if all you can turn it on is just one little drip at a time. Eventually you’ll fill up that bucket, but if you don’t, you won’t.

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So you know, even when people start a lot of times, people will set up their office. They they get their nice furniture, and they got a desk, and now they got. They got shelving, and they buy all the books they need, and they buy all the audio programs, and they they buy letterhead. For some reason. I have no idea why people buy letterhead in 2025, but they do.

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and they and they get, you know, all the pens and all the pencils and all the paper and everything they need to run their office. Oh, you gotta have a desktop. You gotta have 2 monitors. You gotta have this and that, and the other thing, and they don’t have any clients.

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You have to go get a client. You have to do that 1st and then

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check out your budget, check out your cash flow. See if you really need to get that second monitor. See if you really need to get a new computer, a new laptop, so forth and so on.

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Pitfall number 4.

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People have no reason for their business to exist.

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and I know that sounds odd, but most of the people on this call. Most of the people that I ever talked to ever

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do not know why their business exists.

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They cannot say absolutely and definitively as a guiding principle why their business exists.

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They want to make money. They want to feed their family. Okay.

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but they don’t write it down. As this business exists to feed my family. This business exists

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to provide awesome tech support. That, I believe will feed my family.

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They don’t write down anything, they have no purpose. There’s no vision.

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If you think about what will your business look like in 5 years

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that will begin to help you understand what your business should be.

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If all you care about is money literally

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go get a job. It is a lot less work than running a business, and the money is far more reliable.

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So you know, why are you doing this?

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Is this going to fund your children’s education? Is this going to fund your retirement? Is this going to make the world a better place?

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Why are you doing what you’re doing? And if your business doesn’t have a purpose, I literally don’t know what you’re doing.

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and you don’t know what you’re doing.

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So I encourage you to to take time. Stop and

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focus on why, your business exists.

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Pitfall number 5.

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Too many people spend all their time running the day to day operations and not running the business. If you run from client to client, to client, to client to client, and can never take out time to actually focus on the business.

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You have a job.

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only you’re the boss, and you don’t have a reliable paycheck, and your boss is a jerk, and you never get a day off right?

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So one of the luckiest things that ever happened in my life is that somebody handed me the E-myth revisited by Michael Gerber. The E-myth is the myth that if you’re really good at technology.

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you should start a business and do that.

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you know, if you’re really good at baking pies, you should open up a bakery, and you’ve heard people tell each other that. Oh, my gosh! These are so good you should open up a bakery, you should go into business. No, you shouldn’t.

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What does a bakery do to fulfill your life and make it more meaningful if you love it, if that’s what you want to do, and that’s how you have a vision of feeding your family and making your retirement pleasant. Good! You should do that. But if you just are good at baking, hey? I say, knock yourself out and make treats for everything you’re ever invited to for the rest of the year

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you have to spend at least as much time working on your business as you do in your business, and this is a pitfall that people fall into again and again and again, even if they’ve been doing business for 20 or 30 years.

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How many times have you been in a conference? And people say, Oh, I can’t participate because

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I got a client with a problem. I gotta go fix a thing. I can’t take time away from my clients to improve myself or my skills.

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I have to focus on fixing a client problem because I can’t focus on improving my business.

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Pitfall number 6.

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They don’t have a target market again. Most people fall into this category. Small business is not a vertical

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small business is a horizontal right? It it’s 1 to 5, 6 to 1011 to 2526 to 50. Those are horizontal measurements. A vertical is doctors or lawyers, or accountants, or manufacturers, or people who run a particular kind of business restaurants or funeral homes, or something

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you have to have someone to sell to.

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And there’s a weird human fallacy. It’s like built into the human DNA that we believe

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if I focus on one small market, I’m gonna have fewer potential clients. But the reality is.

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when you focus on a small market.

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you are a bigger fish. Every time you, your market gets smaller you appear to be a much bigger fish.

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Consider, for example.

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it consultants right? I could be doing business training to every business owner in the world. I could have 7 billion clients. But guess what

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I couldn’t possibly sell to one of them with such a generic, bland middle of the road. Uninteresting. I do

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things to help people message.

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I help small. It consultants to be successful. I don’t help big consulting businesses.

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I mean, I will help HP. If they give me money. Don’t get me wrong. I have done it, I will done it. But

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that’s not why my business exists. If somebody wanders in off the street, Intel gives me a bunch of money or one of the big vendors in the it. Business gives me a bunch of money. I will take it. Don’t get me wrong.

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but my business exists to help you be as successful as possible. There aren’t that many. It consultants in the world. Out of the billions of people there might be a million people in it, consulting of which

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I’d be. It would be a miracle if I were ever to contact

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a hundred 1,000 of them right. The market is very, very, very small, and even though some of you are from outside the United States, most of them speak. The people that connect to me speak English in some way, so the market gets smaller and smaller and smaller.

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but I can have an influence on that market because I have narrowed it down.

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The people who tell me I serve doctors and accountants and the occasional other business are far more successful than the people who say I help everybody with everything.

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That’s just the way the world works.

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Narrow your market so that you can focus on who are your clients, and how can you get a message across to them.

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because think about it. If you, if somebody comes to you and says, Hey, are you an accountant who needs to make sure that all of your technology works at the beginning of the tax season, and then you are left alone, and nothing changes till the end of the tax season. If you’re an accountant.

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your ears perk up and you go. Yeah, that’s exactly what I want.

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If you’re an attorney, you’re like, I have no idea what you’re talking about.

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Right?

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If you have, if you have a market that focuses on accountants, you can market to accountants, you can talk their language. You can learn their language, and then you can appeal to them.

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Pitfall number 7.

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Some people stop learning. They literally. I alluded to this earlier. They literally say, I never want to read another book. I never want to take another class. I know I don’t ever want to learn anything holy smokes.

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NIT.

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Everything changes all the time. I

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sort of going on the you know, the Moore’s principle. I believe that pretty much one generation of tech technology is 18 months.

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and you know Moore’s law says that you know the number of processors on a a circuit.

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on a processor

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or circuits on a processor doubles about every 12 to 18 months. Well, or maybe it’s 18 to 24. But I can tell you in 18 months

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the computer that you’re using is going to be different. The interface is going to be different. The software is going to be different. The hardware is gonna be different. There’s a whole bunch of new stuff coming down the road. The stuff that’s coming down the road in 6 months. I can probably foresee in some fuzzy, not quite in focus way the stuff that’s 18 months down the road I can guess at.

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and 3 or 36 months down the road. I can’t guess at right.

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People talked about AI for 50 years. And then one day, a few years ago, all of a sudden, everybody wanted it. Everybody could put their fingers on it. Everybody could ask Chat Gpt to do some silly thing. They hadn’t found a good use for it yet, but they could. They could ask it to do a silly thing.

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so in it you must never stop learning. You must never stop growing. You must never stop using your brain to put new things into your business

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pitfall. Number 8 is bad marketing or no marketing, and I can’t tell you how many people say, oh, we’ve grown by word of mouth. Blah blah, like, okay? 1st of all, if 100% of your business is honest to God, word of mouth.

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there’s a limited, there’s a limit to the size of your business period. There just is.

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if people say, Well, we grew to 20 million dollars by word of mouth.

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for whatever reason they’re ignoring their social media. They’re ignoring what they did to even put an advertisement on something they are ignoring the money they spent to promote themselves.

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You have to do some kind of promotion. You don’t necessarily have to have a marketing campaign or buy newspaper ads which nobody buys anymore. But you have to do something you have to do something, whether it’s taking action or spending money to help. People know that your business exists.

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If you don’t, that’s cool, you will limit the size of your business

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period. You will limit the size of your business. Now, if you don’t have any employees, and you don’t intend to grow great, your business can stay as small as you want for as long as you want

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as long as it’s big enough.

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But what you’re gonna end up with is one or 2 really big clients who, if they suddenly disappear, would leave you in quite a predicament. So

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marketing is something you have to do all the time.

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and you know I have a little sticker. That I think is funny. I don’t know if anybody else thinks it’s funny, but it it asks the question.

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what happens if you stop marketing? And the answer is nothing.

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One of the problems we see when people get into their business about a year or 2 is that they say I need some clients, and they do something to get clients, whether, again, social media promotions advertising something, they do, something

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to get clients.

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Then they sign up a client, and then they stop.

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and then they’re cruising along. And then suddenly they realize, oh, man, I I need to get me another client, but they haven’t been doing any marketing, and so they got to start over and starting over in marketing is exactly like starting at 0. You have no warm clients, you have no cold clients, no cold prospects. You have no hope. You’re literally starting over instead of keeping.

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You know that that marketing on a low burn on the back burner. Just kind of simmering along doing some work for you, right? So you you need to get your marketing right. And this is again, this is something that even people who’ve been in business 1020 years get this wrong

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pitfall number 9. People have either

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bad processes or no. They say they have no processes. Everybody has a process. You just may not have documented it.

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But if you do everything yourself, and you can’t explain it to anybody else. You have very bad processes, and almost everybody who comes to me for coaching sometimes with 1015, 20 million dollars in revenue. 1 50 million dollars in revenue.

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and their biggest problem they had is they don’t have written processes and procedures. I don’t know how you get that big without written processes and procedures. But it happens.

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and as soon as you have processes and procedures in place you get better, you get more efficient because your business becomes scalable and reproducible, and that means you can hire somebody. You can train them, and they can do the job.

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You know I mentioned the E-myth Revisited, and a lot of lessons in that book.

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The biggest lesson I ever had to learn is that every time somebody would leave my company. They would move away or get married, or you know, whatever

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they would leave my company, and I would take back their work because I felt like. I don’t want to train somebody else took me a long time to get over that and realize I have to train somebody else. I am never going to be able to do all the things that need to get done in my business.

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Pitfall number 10 is going it alone, and by that I mean

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running your business and saying I’m good. Real people can run their own businesses. I I can figure it out. I I can do this. I don’t need other people. I don’t need a community. I don’t need to ask people for help. I’m smart, and I can do this. In fact, I’m the top of my class, I might be the smartest person I know. I absolutely can do this. That’s great. I’m glad you have a game can do attitude.

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but as soon as you get into a community and people start talking about. I got this one client. Blah! Blah! Has anybody had a client like that? And then all the stories come out, and then then what comes out is, oh, and here’s what I did about it, or here’s the tool I use, or here’s how I manage them, or here’s my process. Here’s my policy. Can you send that to me? Yes.

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I will share my information with you. I will help you.

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you know, when I wrote my very 1st book

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somebody came to me and he said, I can’t believe that you’re giving away your secret sauce.

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You know my my opinion about secret sauce.

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And he said, You know, like, like, you’re telling everybody exactly how you do everything. Aren’t you afraid that people are just gonna take this and run. And I said, Look.

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I’m charging $90 for this book.

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If you want to take it and run, you go right ahead, and you tell all your friends where you got the book right.

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You do not have to go it alone, and people are willing to share, and even if you have to pay for it, it is worth having other people’s knowledge. But so many people are willing to give and give and give without charging you anything. And that’s what makes a community so great.

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Finally, pitfall number 11 is not having any work-life balance.

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you know. After all these years.

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I started my 1st business in 1999, 30 years ago.

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and I have been talking about work life balance since then. The most recent time I made a presentation on. It was this week, and the time before that was last week, and the next time I’m going to talk about it is

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tomorrow. In Southern California

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work. Life balance is huge, and it never, ever, ever goes away until you’re dead. Until the life is gone from your work-life balance. There is no end to work-life balance just like your business. You have to work at it. You have to make it happen, and too many people in this business brag about

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working 70 HA week and 80 HA week, and I ignore my family and I I and then it makes me very successful, and I don’t know the names of my kids, but you know I recognize them when they walk in the room. Great good for you.

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You’re going to have a heart attack and die, and too many people I literally just connected with somebody on Facebook that I hadn’t seen in a couple of years.

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He left the business because he had his second heart attack.

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and he decided it was time to retire.

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I think he’s 55,

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you know. This happens to people, and it doesn’t ever, ever, ever have to happen. You can build a life where your work and your life mesh together and reinforce each other. It can be done. It just takes some commitment and some attention, but it means

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your business has to run right so you can take time to have a life.

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Your family deserves your attention before you get old, and before they get old.

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and so you need to give it its due, and that means your business has to have itself running properly. So you’ve got the extra time.

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So lots of other details about all of this, and lots of there’s a million pitfalls. Our job is to help you avoid the biggest pitfalls.

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So part of my absolute commitment to systems approach comes from W. Edwards Deming.

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and this is a great quote. It’s not necessary to change. Survival is not mandatory.

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So if you wanna if you want to improve, you gotta change. And if you want to survive, you gotta change. You can’t just stay still forever and ever and ever. So we’re launching a program you can sign up today

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at smallbus.org slash 1st year, Msp.

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And the 1st meeting is February 27.th So you gotta get signed up before that. And if you want to save a hundred dollars. You gotta get signed up now. What we’re gonna do is get together every month

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we’ve got calls where we’re going to talk a little bit. Do do a little community building, have some education on specific topics. And then, and you know you, I hope you’ve all got the emails. If not, you send me a note. I’ll send you the email. It’s gonna be focused on, you know, materials that will help you grow your business, get you set up properly and get you headed in the right direction.

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and

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then we’re going to ask you to say what you’re going to do in the next month, and the other people in the room are going to hold you accountable. There’s some great peer interaction and feedback again. Part of it is professional coaching and training from from somebody who’s been there. And part of it is the community helping you move to the next level. Plus. Of course you’re going to get a class and a certification over at Itspu.

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So our goal is to help you

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skip the mistakes or make them really, really fast, so you can get past the mistakes and avoid a whole bunch of them, and then move on to the smoother part of running your business. We’re going to help you figure out how to make sure that you do the things that you need to do first, st right? Keep that that focus and also help you with the mindset. You know people, you’ve heard the phrase. It’s lonely at the top.

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It’s really really hard to be the person who has to run everything and everybody relies on you and counts on you and all the clients and all the employees. And it’s really difficult. You need a support system, and it it doesn’t have to be somebody that you meet with in person every week.

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If you can meet with us once a month, I promise you it’ll make you head in the right direction, and we always have people who connect with each other on the side, develop friendships and develop even more peer support that way.

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So it’s a great way to get connected both to the community and to good coaching.

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So we do. These monthly coaching calls. They are recorded, if you choose to. If you to save some money, if you can’t afford it, you can choose a program without access to those live calls you only get the recordings. I don’t recommend that. But if you have to, you have to. Also, once a quarter, you’re gonna get a a strategy session with me. So up to an hour we’re gonna sit down and talk about whatever you need to move your business ahead as quickly as possible.

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And then, of course, lots of downloads, massive amounts of information. And we’re gonna deliver it in chunks. We’re literally gonna say, here’s the focus for next week. Here’s the material that you should familiarize yourself with, maybe even start using and customizing. And then we’re gonna talk about that. And then we’re gonna have the Peer group interaction. Right? And of course you’ll have access to that going forward

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now. We’re not the only option. There are lots of organizations that are gonna take your money and give you one or 2 things that you find in this program. You can go find coaching

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for just a little bit more money than what I’m charging. Some organizations will take all of your money, and they’ll do one thing really. Really well, you can go buy those programs there literally. There’s a lot of people who have grown up their businesses. You know, making money off of it consultants. And so you can get a a few pieces of this somewhere else. But no matter what else you do.

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I think you should read managed services in a month. I think you should read service agreements for Smb. Consultants. I think you should read the Manage Services Operations man Manual. Probably the it consultants year of intention. Probably the absolutely unbreakable rules of service delivery. Probably cloud services in a month

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and definitely relax focus, succeed. In other words.

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all of the stuff that you’re gonna get in this program. Part of it includes all the books that you really need to read and familiarize yourself with. In order to

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step into this business successfully and make sure that you’ve got it set up right. You need those materials, and you’re probably gonna end up buying them. Whether you join this program or not.

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and you can also just go it alone, right? That that happens all the time. So this program is 1499, one payment for the whole year. Everything is 1499, not 1499 a month, as some programs will charge you right. Even if you were doing coaching, I charge $5,000 a month is my entry fee for coaching? Right? So if you want to do that, you’re absolutely welcome to do that. That’s not included in this program.

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The essentials track is one where you get the recordings, only you don’t get the personalized coaching, the one on one quarterly coaching. But if you, if you, if that’s all you could forward you, that’s fine. Just know we will let you step up to the next level, if you choose to.

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Now believe it or not, some of you should not join.

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If you if you’re not gonna commit. If you’re not going to attend meetings. If you’re not gonna download the materials, if you’re not going to do the exercises, if you’re not going to

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go through the checklist to improve your marketing or to improve your mission vision and values. If you’re not going to take our advice or engage in the community, it’s probably not worth your while.

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you know, if you’re gonna focus on the wrong thing and not figure out why you’re in business, or what you want to do with your life.

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It’s probably gonna be of less value to you.

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we want you to be working on your business. We want you to identify a great market build, great marketing programs that are very effective. Improve the programs you have and and document really good processes that can be once they’re documented. They can be improved over time.

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you know, we want you to find a community of people who will support you, and we want you to have work, life balance. And so, you know, if you’re not going to jump in with both feet, then you know there are other places that will take your money, and they will give you a piece of this, but they will probably not come close to giving you everything that we are able to offer you

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and the bottom line is.

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nothing happens by itself. You have to figure out that you’re gonna cut out the distractions and focus on your business. You have to go get that 1st client. You have to get a business license and line up suppliers and vendors. If you don’t have that, you have to choose the right tools and buy them at the right time.

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You have to educate yourself forever for the rest of your career. You have to focus on your business, and you have to do this, but

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you don’t have to do it alone.

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We literally exist to help you to be more successful, and we would love to have you join us in the 1st year. Msp, program.

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You can find out all the details at small business thoughts.org slash. 1st year. Msp, hit that QR code. If you are one of these people that

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points your phone at your computer screen and you know, goes browsing, you should do that whatever. If there are any questions I will be happy to answer them. Please put them into the the QA. Section in zoom, and I would be very happy to answer any questions that people have.

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Now, I’m going to take a sip of coffee while you type in your questions.

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actually have in my notes that this slide should appear at minute 55. So I’m 30 seconds ahead of schedule here

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while you’re typing in questions. I’ve got a few quotes from people in our community.

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We have, actually have a couple of community members on the call.

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No questions. Alright. Well, if there are no questions. I’ll go ahead and put this to sleep.

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Emmett says, thank you so much for sharing your wealth of experience and knowledge. Well, thank you, sir, I appreciate that.

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Thanks for being here.

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Alrighty. I don’t see any questions only compliments. I appreciate that. But

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thank you for being here, and I would love to see you inside the small business thoughts technology community. Within the 1st year, Msp program, or any of our programs check it all out at smallbizthoughts.org, and with luck I will see you online. Thank you all.

 

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