A short conversational YouTube video (hosted/created by Chris Wiser) focusing on embedding profitability into business systems for IT and MSP owners. Speakers emphasize baking profit into every process, using forecasting and budgeting as living documents, and relying on data to identify levers that affect revenue—while noting traditional CPAs may not provide forward-looking forecasts.
We are going to talk about one of my favorite topics today, which is profits, but also some other things I'm not. I'm really excited to talk with you about is the systems, the processes, the way that we set up our businesses to be profitable specifically for our IT and MSP business owners. So let's go ahead and jump right in.
Okay, so one of the main things is just baking profit into everything that you're doing. So we need to kind of understand that the business needs to have these forecasts and budgets. So a traditional CPA or those types of people aren't necessarily going to be doing budgeting and forecasting into the future. So the goal here is not for a forecast to be perfect. We want to be able to look at it over time and make it like a living, breathing document to understand exactly what levers we're going to pull. So data is key. So we understand. All right, what are we going to get for revenue? That's great and all, but we need to kind of take it back a little bit further than that and look at the few things before we even get to revenue.