As technology consultants, we (I used to be one) can get caught up in the technical side of our businesses without remembering that we have a business to run and must focus on its finances.
Fortunately, you’re not operating your business in a vacuum, but can look at other successful businesses and measure your business to them for a helpful comparison.
With that in mind a new business analysis tool designed to equip information technology (IT) solutions providers with strategies for improving their financial performance is now available from the Computing Technology Industry Association (CompTIA), the association announced today.
The CompTIA Business Model Self-Assessment Tool(tm) allows owners and executives of IT solutions provider companies to compare their current business model against the profile of top-performing companies in the industry. The results highlight areas of effectiveness for the business; identify areas for potential improvement; and suggest educational programs to help them maximize their performance.
“The results will identify the business models that generate the highest and most consistent levels of profit,” said William Vanderbilt, vice president, education and training, CompTIA. “In addition, companies will receive a point-by-point comparison of its business model to optimum models; recommendations for improving financial performance; and a comparative analysis of its performance to the industry’s best
performers with similar customers and offerings.”
The self-assessment tool relies on 15 carefully selected questions about a company’s business model, covering key performance areas such as revenue mix, services, customers, and organizational structure. The individual company’s results are then benchmarked against the performance of more than 500 other IT solutions provider companies.
The CompTIA Business Model Self-Assessment Tool is confidential; quick and easy to use; and free of charge. It is available here.
The tool was developed by CompTIA in collaboration with Service Leadership Associates, a leading management consulting firm to the IT solutions industry.
CompTIA and Service Leadership Associates also are working together to deliver continuing education opportunities programs to support the owners and executives of IT solutions provider companies. For more information on upcoming CompTIA education workshops visit: www.comptia.org/education.