Last week Rashaad and Michelle Bajwa spent the week in Phoenix while the rest of us were freezing in the snow storm. But they weren’t on vacation. No, they were doing something incredibly valuable for Domain, attending HTG’s Q1 2017 Peer Group Meeting. And before you jump to conclusions, HTG does not stand for “Hard to Get”. To quote their website, “HTG is an international community of experienced Managed Service Providers (MSP) and IT industry vendors focused on business and personal growth, execution and accountability.”
Domain has participated in these quarterly peer group meetings since 2012 and found incredible returns on the investment for the growth and maturity of the business. Each peer group consists of MSPs located in non-competitive markets to provide a safe place to learn and share best practices for the industry. In addition, HTG collects data from the industry across North America to provide benchmarks for MSPs to evaluate their business. Rashaad shared some of the less techie information with us in our Monday Morning Staff Meeting. The theme was operational maturity: what does it look like and why is it important.
Have you ever wondered what makes one business more successful than another? HTG has focused on this idea of operational maturity as a determining factor for success. A business’s operational maturity is determined by its leadership’s ability to execute a business plan. The more operationally mature a business, the more time and energy the leadership has to invest in building the business, not just doing business.
The diagram above references IT and the company, Service Leadership Incorporated, developed it specifically for IT companies, but the concept applies to any business. When a business begins, leadership is intricately involved in day-to-day operations, figuring out what works by trial and error. As the business grows and in order for it to continue growing, leadership must begin to shift their focus from basic day-to-day operations to planning, i.e. budgets and goals. A truly high operationally mature company is then able to innovate in their current market and branch out into other markets to diversify the business.
It can be difficult as a business owner to stick your head above the everyday weeds to plan where your business is going. In our 20 years of business, Domain Computer Services has been there. But we have come to realize in order to be the business we want to be, it is imperative. It can be daunting. Start small.