Welcome to your New Business!

The day is finally here. You purchased an IT consulting company and are ready to take on the world. During the purchasing phase, you ran through all the checklists, made sure the numbers are reasonable and accurate, and have the prior owner signed on to help out for a few months. What could go wrong?

At some point during your due diligence, you probably met with the staff to determine each person’s role in the company and assured them you want them to remain. After all, the customers know them and are comfortable with their work. It makes sense to keep the staff intact.

In a perfect world, everything will fall lovingly into place. With all due respect, we don’t live in a perfect world no matter how much planning we do.

The first week must be about organizing and administrative tasks. Moving one company into another is challenging. Here is a small list of things to consider:

· Payroll – bringing the new employees into your payroll system. You will need to set up the accounts, obtain direct deposit information, new Forms W-4, health insurance applications, retirement plans, worker’s compensation, etc.

· Vendors – the prior company probably used some vendors for services different than the ones you use in your company. You will need to visit each vendor agreement to determine which services stay and which must be canceled.

· Customers – this is the time to introduce yourself to each customer. Learn about your new customers, what are their hot buttons? What are their expectations of you? What are your expectations of them?

· Tools – there is probably a server to migrate data from/to. Moving data is relatively simple. Let’s look at the other tools:

· RMM/AV/Filtering – which RMM tool will you keep? Before you blindly answer, “Of course I will keep mine,” consider looking closely at the two and think about your new business. Which tool is more flexible and offers more features?

· PSA/Ticketing – before you start importing your new customers into your RepairShopr to dump the old company’s Autotask, think about your future scalability. Maybe the incoming tools are better suited to help you grow.

It may not be the time to use cheap tools because they are cheap. This is a unique opportunity to move to a larger system with little effort. If you stick with cheap tools and migrate the new customers in, you will only have to move them out later as you grow.

Keep your eye on the ability to scale. You just purchased a business so you can grow, you want to be sure you can handle that growth.


You can’t sell your business if you don’t list it! Get listed today. https://www.sellmymsp.com

BlogFeed Sellers Blog Twitter Twitter Facebook Facebook LinkedIn LinkedIN