Get Rid Of Head Trash Around Money .
In 2018 , Nobles stood up at a Technology Marketing Toolkit meeting and said there was no way he
3 could get premium prices in his Atlanta market . “ An MSP from Atlanta stood up and said , ‘ Will , I was charging and getting those prices four years ago .’ I went home , raised my prices , and closed even more business once I began charging premium prices .”
Start With Profit First . You must know your numbers first . “ One thing that helped my
4 profits came from what I learned through the Greg
Crabtree program within Technology Marketing Toolkit ,” Glasser said . “ That ’ s where I learned that you must pay attention to the revenues per employee and being efficient with your revenues , which is called the labor efficiency ratio ( LER ). I learned if you ’ re efficient in your labor and utilize it correctly , your profits will soar .”
Establish A Niche . Pick a niche and stick with it . The more you specialize in solving a big problem , the more you can charge . Ninety-five percent
5 of Glasser ’ s revenues come from the legal and law firm community . When starting out , Michael took the time to learn the software attorneys use inside and out . After becoming an expert on the software , he studied the big problems attorneys were trying to solve . Understanding that lawyers are concerned about billable hours , Glasser pitches how they will use technology to help clients have more billable hours . Then he backs up his expertise with awesome service , which allows him to charge a premium .
Nobles is considered a trusted cybersecurity expert in his community . He gets out in front of the public a lot . “ I do a lot of webinars , post pictures of myself with celebrities , and make appearances on TV talking about cybersecurity ,” Nobles said .
Hire A-Players . Nothing drains your resources faster than a bad hire . Glasser uses DISC assessments and personality tests when hiring people .
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“ You can ’ t go on intuition ,” Glasser said . “ You ’ ve got to use a little bit of technology with it . Yes , you want to assess their technical expertise , but you also want to assess them as people .”
If you ’ re not making what you want per hour , you are probably doing too much yourself and need to hire or outsource someone to help you . “ You must delegate low-value work ,” Bazar said . “ I was constantly getting dragged back into the dayto-day minutia , so I had to delegate being the primary tech .”
Focus On Relationships With Your Clients And Build Trust . “ Go above and
7 beyond ,” Glasser said . “ No question or detail is too small . Answer every question , even if it ’ s something small and only requires a half hour of work . Take the call , because you never know where that can lead . Also , make sure you are maintaining the relationship with people and don ’ t hand that off entirely to your team .”
Even if you ’ ve been doing business a certain way for a long time , you can always start charging premium pricing for new customers . After all , they won ’ t know what you ’ ve done in the past .
Specialize , stick to your guns , don ’ t give stuff away for free , and just start . When you do , you ’ ll be receiving premium prices in no time .
Watch the full interview of Robin Robins with Michael Glasser on “ How To Price Your Services To Secure 40 % EBITDA ” by visiting MSPSuccessMagazine . com / PriceServices . n
Mike Bazar , CEO , Bazar Solutions , Inc .
Michael Glasser , EVP , Frontline Managed Services
Will Nobles , Founder / CEO , Vector Choice Technology Solutions
Are You An MSP Focused On Legal ? Then Frontline Wants To Talk To You About Buying Your MSP .
To Contact Us , Go To FrontlineMS . com / contact
VOLUME 3 ISSUE 6 • MSPSuccessMagazine . com | 15