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icon-talent-100x100Inflection Point 4: Talent (Acquisition, Management and More)

Let’s assume the following: The cloud will become ubiquitous and processing costs will continue to plummet. If supercomputer power is available to everyone for pennies on the dollar, how will an IT services business stand out from the crowd? The answer involves your people — but the talent discussion is pushing far beyond “customer service” and toward the “intellectual property” your team develops for your business.

The talent discussion is filled with plenty of noise. The IT channel seems obsessed with Millennials. We like them, too. But the talent conversation has to stretch far beyond Millennials to include Generation X and Baby Boomers — and the market realities of each generation:

  • Millennials: 35 percent of employed Millennials have started their own business on the side, and 72 percent want to quit their jobs to become entirely independent, according to oDesk and Millennial Branding.
  • Generation X: Almost 40 percent say they “don’t at all feel financially secure,” and 38 percent have a negative net worth, according to a Northwestern Mutual Life Insurance Co. survey. Alas, the Great Recession of 2008 — and multi-year fallout — often eliminated cost-of-living increases and salary bumps that previous generations took for granted.
  • Baby Boomers: Increasingly known as Encore Entrepreneurs, the Baby Boomers are starting their own businesses to pursue life-long dreams or supplement their incomes. But there’s still this stark reality: Thousands of Baby Boomers will need to sell their IT services businesses in the next few years as retirement beckons.

Roll all those generations together, and you get an incredibly diverse talent pool — with conflicting priorities, anxieties and life-work goals you can’t ignore.

Solution: We’re covering talent management — recruitment, training and retention — across all generations. Stay tuned for more moves beyond that…

Stage 5 ExitInflection Point 5: The End Game

Nearly 50 percent of business owners have no long-term growth strategy, and 70 percent of small business owners have no exit strategy or succession plan. However, 78 percent of small business owners plan to sell their companies to fund their retirements, according to the Financial Planning Association.

Look at those numbers again. The math simply doesn’t work. How can you maximize a business’s value — and fully unlock that value — without a strategic growth plan?

Fact is, most IT service providers are bogged down in day-to-day tactical decisions rather than long-term planning.

Solution: Here again, ChannelE2E offers the total package — covering all five market inflection points, and applying the five stages of a successful business to the IT service providers we cover. VARs. MSPs. CSPs. And Total Service Providers, too.

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