More than half of small business owners are having some cash flow problems, according to a recent American Express survey of 768 small business owners. (Note: the businesses have 100 or fewer employees).
That made me wonder: Are managed service providers starting to face some cash flow issues or will service level agreements (SLAs) and recurring revenue contracts help to soften the economic blow for MSPs? Please answer this quick poll and we’ll blog about the results on November 17.
Tags: American Express | Managed Service Provider | Managed Services | MSP | small business cash flow
Interact: Add a Comment | Trackback Link | Permalink
Share:
Subscribe: RSS Feed
_4.gif "ManageEngine")
Our managed services revenue remains fine but decisions on new products and services have slowed dramatically since mid October. I will be happy when we’re into the New Year and businesses can start to turn the page.
Hi Paul: Thanks for the comment. For 2009 do you think you’ll reach out to new customers or just double-down on your existing customer base? Why?
A tip: don’t just assume that your clients have to pay slow due to the economy! We hired an extra part time bookkeeper just to do collections calls and it immediately improved our cash flow. They just needed to hear from us!
Mike Cooch
http://www.everonit.com
http://www.smbitpros.com
Mike: Your “back to basics” approach to getting paid is refreshing. I could probably blog about all sorts of CRM and financial systems to help improve cash flow. But “picking up the phone” and reaching out to customers regularly is the best way to keep the cash flowing.
All the best.
-jp