Posts by Scott MacDougal
Navigating the Tech Jungle: The Strategic Case for Keeping Your General Ledger and Alarm Software in Separate Lanes
In the dynamic world of business technology, the life safety software decisions you make can be the linchpin for your company’s success. One pivotal decision that businesses often grapple with is whether to integrate their General Ledger (GL) with their Customer Management Software (CRM). While the allure of an all-in-one solution is strong, there are compelling…
Read MoreLabor Shortage? DO LESS!
Not shocking news: we’re in the tightest labor market in over 20 years. Security alarm dealers, and many other industries, are having real trouble finding enough people to get all the work done. What’s a business owner to do? Until the labor market improves, here are some ideas that may help. You’ve heard the adage,…
Read MoreManagement: Many Flavors
To state the obvious: effectively managing your small business is difficult! It’s easy to get derailed. Whether that’s getting hit by a big surprise problem, losing a large customer you thought was happy, losing a key person, battling inflation-driven cost increases, and so on. Management is a very broad term, and it may be better…
Read MoreSafe Streets USA
Company: Safe Streets USALocation: Garner, North CarolinaWebsite: http://safestreetsusa.com Background SafeStreets USA is one of ADT’s oldest, largest, and most experienced Authorized Dealers operating in 46 states across the US. The company does over 50,000 alarm installations annually and about 98% are residential customers The Challenge Like many security dealers, SafeStreets was using a…
Read MoreCRM Software for Security Dealers: A Must Have
A CRM is generally understood to be software that helps you manage your customers and prospects. But when I hear “I really need a good CRM!” the real question is: what are you trying to manage? Lead Management CRM vs. Customer Management CRM Often what they really want is not a customer management system, but…
Read MoreRecurring Credit Card Transactions: Painful to Comply
Over the last few years, the credit card industry has adopted new rules that make it tough for small companies to stay in compliance. Including for recurring payments charged by security alarm companies. IF your company accepts Visa and Master Card for recurring subscription invoices, please review your processes versus the list below. Does your…
Read MoreMonitoring Alarms (And Almost Everything Else)
Monitoring Everything? Monthly fees for security system monitoring are the main driver of company value in this industry. And the average monthly fee for alarm monitoring has been rising at a healthy clip in the last few years, why? More Monitoring = More Control The traditional perimeter security system monitored the entry points and interior…
Read MoreCustomer Acquisition Cost: Do you Know Yours?
How much does it cost you to acquire a new customer? Most security companies don’t really know – but they should. If you’ve ever seen an episode of “Shark Tank”, one of the most common questions from the Sharks is: what’s your customer acquisition cost? It’s a key metric for any business, and one you…
Read MoreLifetime Value of a Customer: What’s Yours?
There are a few key numbers that are extremely valuable to know, as owners plan and make investment decisions. One of those is the “Lifetime Value of a Customer”, or LTV. It’s pretty simple to determine, so let’s step through the process. No doubt your company has a wide range of recurring revenue amounts for…
Read MoreDON’T SELL! (But Be Ready To)
Many of our customers have owned their security alarm business for a long time…20 – 30+ years. Some are baby boomers that are no doubt thinking about retirement. Other owners have pulled back from their business a bit, and are in maintenance mode, enjoying the recurring cash flow. In the latter case, Cornerstone serves the…
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