Ultimately , Lemonis explained , the business may have given away money , and he may have lost ( a rumor about North Korea ’ s Kim Jong Un didn ’ t help ), but people knew the name and brand , were driven to the site , and were given reason to continue supporting the company . The long-term value of the experiment far outweighed the small monetary loss .
Back in the digital sphere , in order to ensure survival in this period of unprecedented change and development , Lemonis encouraged MSPs to funnel marketing into that core group of consumers who need these services most . Lemonis identified three powerful marketing tactics businesses need to turn to in the midst of a crisis : Lean into your failures , optimize your success stories , and recognize the value of your people .
Now more than ever , MSPs must act . This time of crisis can spell major downturn for many businesses , but it ’ s a time of opportunity and success for MSPs . You can turn your failures and weaknesses into your greatest wins , lean on the power of targeted marketing , and surround yourself with the right talent to thrive in this pandemic
After all , your service just might be the difference between your clients succeeding or succumbing to this pandemic .
Put On Pants The Same Way
Lemonis is the first one to admit that he doesn ’ t know it all . In fact , he prefers to surround himself with experts who know far more about the technology , systems , and procedures of a company ’ s product than he does .
He believes the people he has met as a result have catapulted his business and brand to the success it continues to see to this day .
“ Most times , business owners , or at least people who call themselves successful , want to create an image about themselves — some sort of shield — that they have this superpower ,” Lemonis said . “ When the reality of it is that I put my pants on the same way , I cut the same way , I fail the same way .”
For Lemonis , success hasn ’ t been about cultivating the ultimate knowledge and becoming the best . Instead , it has been about leveling the playing field with those he felt “ inferior ” to . He felt he had something to prove to those he viewed as “ better ” than him , and rather than trying to prove that he was the ultimate businessman , Lemonis said he learned the value of leveraging his weaknesses with the strengths of others to amplify what was possible .
“ I knew that if I practiced a craft , which was really understanding numbers and understanding people , that I would be able to get at least on the same level with them ,” Lemonis said . “ So I did research on how you teach people to be more innovative , more creative , and more confident in themselves … You do have to have the best work ethic in the room , and you have to have the guts to try things and realize that you ’ re going to fail sometimes .”
If there ’ s one piece of advice Lemonis would share with aspiring new business owners and veteran owners slogging through these times , it would be to embrace the power of failure . Just starting out your business or focusing on a new path is the optimal time to fail . It ’ s the time to throw all you can at the wall , let the pieces fall where they may , step through the rubble , and find the success that ’ s going to propel you forward while understanding the lessons that come from what hasn ’ t worked . Failure and your weaknesses , Lemonis explained , can be the best tools in helping your business grow and thrive . It ’ s what you do with these failures and who you choose to help you through them that define your success .
MSPs must market harder than ever before . Failure is possible , but look to those who can fill in the gaps quickly . In fact , now ’ s the time to find the people who are going to serve an MSP the best and move past mistakes because dwelling will suffocate an MSP .
Find Value In A Broken Business
With the economic recession , there are bound to be business closures , and that can affect the MSP industry . Those looking to expand their businesses will look to these struggling MSPs for opportunities to buy , save , and build into new markets .
However , instead of being quick to jump into a failing business and do what you can to make it thrive , Lemonis encouraged MSPs to look at what is working in the business . Who is building that foundation ? Who has those relationships with prospects and clients ? Who are the power players at that organization ?
Find out who they are , and find a way to make those people — or their talent — part of your MSP structure and market offerings . You ’ re not going to acquire a business without some risk , but if you leverage the people around you , then you ’ re going to get the most for your business .
“ Go after the talent that makes up the broken business , not the business owner and his people who make up his broken business ,” Lemonis explained .
The people you choose to lead and work within your business set the tone for your organization ’ s success . Lemonis views it as a three-pronged approach for all successful MSP business owners and CEOs .
A great CEO has patience and a plan , Lemonis explained . They understand that success is about playing the long game . Very rarely do businesses see pure profit in their first and even second years , but with persistence and the patience to see a company and plans thrive , CEOs can push their companies to success .
Secondly , owners and CEOs understand the power of investing in their business . They shy away from big purchases and down payments on their next condo , and they view their business from a maintenance perspective rather than a personal bank account to pay for habits .
Finally , they don ’ t have to be an expert on every part of their business . CEOs are the conductors stringing all the pieces together and finding value in those they hire and those they choose to lead their employees .
“ I surround myself with people who are smarter than me in their specific embassy ,” Lemonis said . “ So , if I was running a digital marketing agency , I would want to have different people in different departments that could teach me 10 times to Sunday what their specific craft is .”
If you ’ re doing more than coordinating the talent you ’ ve surrounded yourself with and finding yourself attempting to become the expert in every arena of your business , then you ’ re not leveraging the talent that could be sitting in the very offices right next to you .
Dig into them and propel your MSP to success .
20 | MSPSUCCESSMAGAZINE . COM • VOLUME 1 ISSUE 8