rget Market Helped Mid-Market Company 0 In Only 3 Months !
started to pay off for us . By December 2022 , we ’ d added $ 30K MRR from mid-market companies , and in March 2023 , we were at $ 45K MRR from mid-market .
Mid-market companies are acquiring other companies , and they ’ re growing quickly . If you can land mid-market companies , you ’ re going to be adding seats and revenue without having to do additional marketing . While a small business may only add one or two employees a year , mid-market companies are adding 20 , 50 , or 100 people in a shot . That can dramatically change your business .
What Was The Biggest Challenge You Had To Overcome This Past Year ?
We had to figure out how to craft the marketing to get to the decision-makers in the mid-market . With mid-market companies , you could potentially be targeting three different roles : CEOs , CFOs , and IT directors . The three of them care about very different things within their role and organization . We had to learn who those people are , what makes them tick , and how to get their attention with our marketing . We had to learn to create three different messages for the same market depending on who we were addressing . We were really stuck in the mud for a while , but once we got it figured out , it started working .
Name A Partner Or Tool That Has Helped You Along The Way And How It Helped You .
We built our security practice on RapidFire , which is a Kaseya product . That was a big piece of how we built our cybersecurity practice and our reputation over the past five years . We ’ re deeply involved in RapidFire Tools and all their suites of products for cybersecurity . In addition , RocketCyber increased our ability to provide 24 / 7 security to our clients around the world , and that was another tool extremely important to us at this stage . Having eyeballs on somebody ’ s network 24 / 7 and being able to detect malicious activity is critical today . Working with Kaseya and using their tools to provide these solutions to our clients is tremendous for us .
Who Would You Say Is The Most Impactful Business Leader Whose Techniques Or Leadership Style You Emulate , Follow , Or Are Influenced By ?
I ’ d say John Vanderslice from Sandler Strategic Solutions Group . John helped us build a rock-solid sales process . He also worked closely with me and was the one who called me out on a lot of my behaviors that were counter-productive to my being an effective leader . He ’ s the only person in my 19 years in business who came along and called me out and held me accountable to that level . Not only has he made me a better leader , but he ’ s also made me a better father and husband .
What Book Would You Recommend To MSPs Or SMBs Trying To Grow Their Business ?
Read “ Rocket Fuel : The One Essential Combination That Will Get You More of What You Want From Your Business ” by Gino Wickman and Mark C . Winters . It shows how to understand your role in your organization , whether you ’ re a visionary or an integrator , and how finding the right person to work with can make your business thrive .
In Closing , Any Specific Advice Or ‘ Words Of Wisdom ’ That You Would Give To Other MSPs Looking To Grow Or Build A Successful Exit For Their Business ?
Work with industry experts on pricing and packaging , and get rid of the head trash . Far too many MSPs are not charging nearly enough for what they need to do today to protect and serve their clients properly . When they don ’ t charge enough , they cut corners . They leave the clients vulnerable . We ’ re constantly going in and discovering this across the board . It ’ s prevalent and common . I would advise MSPs to really understand their costs . Understand that a profitable and valuable MSP looking to exit is getting somewhere in the neighborhood of 70 %– 80 % gross profit . When you ’ re trying to build those kinds of margins into what it costs to do this , you ’ re quickly at $ 250 –$ 300 a user . Many MSPs are afraid to charge that kind of money , and we ’ ve been charging that for over five years . The key to why most MSPs , in my opinion , don ’ t grow is that they just don ’ t charge enough money and are afraid to ask for it . n
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