Many of the dealers and integrators who own companies in the security industry have what is called a “lifestyle business,” meaning the business brings in enough profits for the owners to live in nice homes, drive great cars, and travel in style. While the owners may appear or may truly be living a comfortable lifestyle, this can change when it comes time for retirement, if a business owner is not prepared.  

How much do you invest in your business each year? Is it a percentage of your growth? What are your priorities when you invest? These are important questions to ask about your company’s investments, because investing in your company is challenge for every single business owner. 

Company leaders should also be excellent communicators; indeed, communication should start with the head of a business. A great owner needs to set the company’s agenda, goals, and priorities. If you are not a natural communicator, as an owner or supervisor, you should either learn them, or find someone who is a great communicator to help you.

RMR grows when service or monitoring results are driven and improved upon though automated processes, and ESX is where you will meet some of the companies that automate systems.

Top-floor management often assumes that if sales were better, so would cash flow be. There is some logic to this kind of thinking, but it often isn’t the answer to the problem. On the flip side: employees tend to blame management for poor business practices when there are cash flow problems often because they feel the stress of limited resources and services that make it difficult to do their jobs.

Retention is the magic to your personal and professional growth. If you cut nickels and dimes to close deals, you simply have to sell more and more customers to pay the bills.

Your business plan rules how competitive you are, which adds to your value. It speaks to how rapidly you are growing and in what market sectors, and it points to who is most likely to be interested in your business when you’re ready to sell.

Technology is ready for cable and telephone companies to offer more services to their customers now, because it is a panel that transmits signals that allows them to offer their intelligent home services — with security being one of the signals on that panel.