What Is Your Single Secret To Success This Past Year ?
Focusing on ideal clients [ midmarket ] that are a better fit has given us a turbo boost . I failed to raise my prices for many years , so when we raised prices , the clients who were not a great fit left . This gave us the resources to deliver better quality service and find clients willing to pay for it . We brought on five midmarket clients who see technology as a differentiator , not as a cost center . Our profits grew quickly because one new , rapidly growing midmarket account is worth at least five small clients . These clients invest in technology , their support issues are less common , and my staff is happier . Plus , many of these clients are buying other businesses . Not only do we get project work associated with merging two organizations , but our MRR grows with every acquisition .
What Is The Biggest Challenge You Overcame This Past Year Related To Reaching That Growth ?
Turnover . We had to fight through people being recruited away in the 2022 hiring frenzy and make hard decisions about letting people go who weren ’ t a good fit for the organization . But our team is a lot stronger than 12 months ago because of it .
What Book Would You Recommend To Other MSPs Or SMBs Trying To Grow Their Business ?
Greg Crabtree ’ s Simple Numbers 2.0 was a game-changer for me . When I opened my P & L in the past , I would jump from the revenue number at the top to the net profit at the bottom , then either cry or cheer . Now , I can actually read my P & L and use it to make decisions .
What Words Of Wisdom Would You Give To Other MSPs Looking To Grow Their Business ?
If your business isn ’ t performing the way you want it to , it ’ s your responsibility . You ’ re responsible for making decisions that drive the business forward . If you want to evolve and turn into a larger , more successful company , you must push through the uncomfortable parts , have difficult conversations , and make hard choices . To make it easier , find a mentor who ’ s achieved what you want to achieve . This was crucial in helping me find my way through the jungle when I had no idea which way was north .
Cindy Panetti Cyr is an accomplished author with over twenty years of marketing experience , and a deep passion for direct-response marketing , technology , and travel .
What Partners Or Tools Helped You Along The Way ?
Transforming our technology landscape with Kaseya ’ s ProfitFuel program has supercharged our efficiency and profitability . It ’ s delivered unbeatable cost savings by securing the most competitive rates for essential technology , coupled with more economical cyber insurance . It streamlined our operations , converging multiple tools into one seamless ecosystem accessible through a single login . This enhanced our tool integration and simplified our workflow . We are also provided with a dedicated representative , eliminating the hassle of juggling multiple contacts .
This focused approach of investing in one vendor rather than scattering our dollars across multiple vendors commands attention , translating into superior service and support . As a result , our resources are strategically allocated , amplifying our capacity to achieve ambitious goals .
Who Is The Most Impactful Business Leader Whose Techniques Or Leadership Style You Try To Emulate Or Are Influenced By , And Why ?
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Elon Musk . I admire his focus and drive . He refuses to accept the status quo , starts from scratch , and rebuilds an industry . He ’ s taken a single mission from his childhood — populate Mars — and built an entire ecosystem around that idea . In the process , he is revolutionizing the way we live . Electric cars , batteries , satellites , solar , robotics , and soon AI . He is an absolute force of nature . From his management style , I ’ ve discovered we need to never be satisfied with good enough and to implement his “ burst mode ,” where he and his team apply concentrated effort over a short period of time to achieve significant progress on a project or goal .
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