Business
Yes, It’s More Important Than RMR
Recurring Monthly Revenue is the key benchmark our industry uses to value security companies. As such, it gets lots of attention. But there’s another benchmark that’s even more important: Recurring Monthly Profit (RMP), defined as Recurring Monthly Revenue – Recurring Monthly Expenses = Recurring Monthly Profit It’s more important, because it requires a focus on…
Read MoreBilling Multiple Locations…Easy, Right?
As billing agent for our security company customers, we are often asked to help set up multiple location billing. The situation could be as simple as billing both a home and a business or lake house on a single bill. On the other hand, it can be as complex as billing 300+ supermarket locations on…
Read MoreIntegrated Inventory Management for Security Dealers
Inventory can be the backbone of a good customer management system. At the basic level, inventory is used to maintain a list of parts you sell along with a description of each part, the selling price and your cost. Advanced inventory management may include physical stock counts (on hand, on order, short on tickets), multiple…
Read MoreSize Matters: Top 5 Advantages of Small Security Dealers
Today small security dealers are not just facing the traditional battle of David versus Goliath but David versus Goliath versus the Internet. In addition to multi system operators (MSO) like Xfinity and nationwide security system companies, small security dealers are also competing against internet connected devices that have changed the DIY market. Consumers with an…
Read MoreThe Impact of Customer Service on Your Business
Creating and managing a first-rate customer management system begins with the mindset of the owner and employees and their dedication to exceeding customer expectations. The payoff for these companies is huge: lower attrition, more referrals to new customers, more cross-sales and a longer average customer life. These all add up to faster growth, higher profits, and…
Read MoreZip Line Networking
When you’re having a blast zip lining down a gorgeous mountain, the LAST thing you want to think about is networking, right? Wrong. And I have quite a story to prove it. Our family spent a week vacationing in Costa Rica last winter, and we booked a zip line experience for one afternoon. A zip…
Read MoreWhy Security Dealers Should Pay Attention to Local SEO
As a security dealer, you want to make sure that when prospective customers in your market are looking for a service, they can find you online. The process of getting traffic to your website is Search Engine Optimization (SEO). Local SEO, the process of driving traffic from your local market, is especially important to alarm…
Read MoreInternet Trends Report: 5 Key Takeaways for Security Alarm Dealers
Mary Meeker’s annual Internet Trends Report was recently released. We combed through the 200+ slide deck to spotlight 5 trends that are important to security alarm dealers and central stations. Trend #1: The combination of slower economic growth, higher debt and aging populations creates rising risks. However, it also creates opportunities for businesses that can…
Read More7 Tips for Choosing a Cloud Provider
Cloud-based software and services have made enterprise level services accessible to security alarm dealers of all sizes. In the past, companies had the choice of doing without, or setting up their own in-house cloud platform. Building an in-house cloud system was, and continues to be, too expensive for most small and mid-sized dealers. The costs…
Read MoreWhat You Don’t Know about the Internet of Things [Infographic]
This infographic from Luckyposting shows how the Internet of Thing (IoT) is impacting various industries and companies. IoT is more than a home security trend but factors into every facet of life.
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