Running a security business can be challenging.
Along with trying to grow your overall business you have a variety of other tasks on your plate. You have to manage marketing, customer service and administrative tasks to ensure your company is running efficiently. There may even be times when business management processes aren’t particularly effective or efficient.
Recurring revenue is at the center of almost every security business model. It is the lifeblood that every dealer either thrives on or struggles to build. However, not all recurring revenue is equal. Recurring monthly revenue is both the revenue that you earn on a recurring basis and efforts to improve that number. Many security dealers could benefit from investing in their RMR processes.
As a security dealer, you likely work with a patchwork of systems that covers your financial and operational needs. This mishmash of systems is often viewed as temporary or short-term until you have the time to review, purchase, and integrate an all-encompassing system. All too often, though, that day never comes, and you’re left with several disparate data systems that work, at best, awkwardly with each other.
This means your organization is wasting energy, time, and money trying to gain control of their snowballing data needs. If you find yourself in this situation, it’s time to review the ways disparate data from disparate systems are causing active harm to your company. (more…)
How well do you know your customer data? When you need to make a strategic decision, can you make it based on data, or do you need to follow your gut? In the security business, collecting data and making it visible can help you to run a more successful company. Below, learn what data visibility is and how through good customer data visibility, security companies can thrive. (more…)
No matter how time changes or which organizational fads come and go, one thing remains true: companies continuously strive to turn a profit. To increase your profit margin, you have two choices: increase revenue or decrease costs. Here we discuss what effective security companies are doing to lower costs, streamline processes, and increase their profit margins. (more…)
“That’s the way we’ve always done it” is a commonly heard phrase at many security businesses. Some would say that if a process isn’t broken, you shouldn’t fix it. However, what happens if the process is broken but you don’t realize it? Processes at security dealers should be audited and actively managed. Otherwise, you may be risking (or already experiencing) significant harm to your business. (more…)