Yearly Archives: 2020

How to Calculate and Recover Your Labor Burden

Posted on September 8, 2020 in Blog ,Improve Financial Management ,Increase Project Profitability ,Solutions360 by

Welcome back to The Brads Show, and our series of discussions about how to build the principles of maturity into your integration business. In today’s video, Brad Dempsey and Brad Malone discuss the importance of accurately measuring labor burden, and the impacts to profits. What is job costing? A job, or a project is a unit of work. So there is a start and end date. Hopefully, there is a scope of work, there is a budget, possibly a bill of materials, and as we […]

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Buying vs Leasing, Which is Better?

Posted on August 31, 2020 in Around the Web ,Improve Financial Management ,Solutions360 by

The most important distinction between buying vs leasing is how the finance charges are paid. If you have ever bought a house or a car, or started a business, you likely have experience with loans. A question you or your customer may be wondering is when to lease and when to buy using a loan? In this blog, we will compare the two. A loan is ideal for collateral you want to own at the end of the term; something that holds its value past […]

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Communicate Assumptions and Risks to Create Common Sense

Posted on August 24, 2020 in Business Process Improvement ,Industry Discussion ,Q360 by

Common sense is when everybody around me agrees with my perception of reality, without my having to tell them. Working on hundreds of projects and training thousands of project managers, I’ve often wondered why so few people around me have common sense. Many times I’ve discovered their lack of common sense three-quarters of the way through a project, which is a little late. I mean, they’re intelligent, hard-working, and committed to delivering a quality product and/or service, but sometimes they just don’t seem to think […]

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4 Mistakes That Are Hurting Your XaaS Sales Approach

Posted on June 29, 2020 in Around the Web ,Blog by

Changing the Way You Sell HaaS and Financing Ultimately, adopting an As-A-Service or subscription model will change your business for the better, but there is more to making the change than building out the offering. Once you are ready to get started, implementing HaaS requires a change to your sales team selling method. In Part 1 of this discussion, we focused on best practices for implementing HaaS in your integration business. Without a doubt, adjusting your sales tools and approach is not always easy. Just […]

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5 Tips for Retaining Top Technicians

Posted on June 15, 2020 in Around the Web ,Blog by

Solutions360 often talks with integrators about the challenges of finding and retaining top technicians. In 2019, CompTIA research reported the unemployment rate for IT talent at 1.3%, which supports what a time-consuming and expensive task it can be to find outstanding employees. And when you finally come across someone who can do their job well, you will want them to stay with your integration business for as long as possible. Retaining talent is not always straightforward, and often means that you must play the part […]

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Labor Burden Is a Crucial Concept for Running a Profitable Integration Business

Posted on June 8, 2020 in Business Process Improvement ,Improve Profitability ,Q360 by

If you hear the term “Labor Burden” and you want to glaze over a bit, don’t Understanding Labor Burden, as applied to the direct hourly cost of your billable labor (Technicians, Engineers, Programmers, Project Managers, etc.), may just change your business. Labor burden is a crucial concept in running a profitable company.  It helps managers understand the true costs and resulting profitability of people, projects and departments.  It helps to determine how you should be pricing your labor, and when to hire more when needed. […]

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Make Your Scope of Work Statements Stand Out

Posted on June 1, 2020 in Around the Web ,Business Process Improvement ,Industry Discussion by

Good Scope of Work Statements Establish Boundaries and Responsibilities A well-defined and communicated scope statement is one of the primary methods of managing a client’s often-changing expectations of what they will ultimately receive from a project. This is developed during the proposal phase of the project — initiated as part of the sales cycle — and is included within the more comprehensive scope of work document. There are really two types of scope of work statements, each serving a different purpose in clarifying the scope […]

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