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From my experience in working with thousands of small MSPs and break-fix shops , far too many of them waste their time servicing low-money , low-value clients because that ’ s where their comfort level is . In nearly all cases , MSPs settle for a much lower price because they aren ’ t delivering advanced security and compliance as a service , where the higher margins are right now .
Another component of getting high-quality clients is to capitalize on expanding the relationship and “ wallet share ” they represent . Will Slappey of IT Voice said , “ It ’ s very expensive to acquire a customer , and too many MSPs make the mistake of being too narrow in simply offering the classic managed services .” He added , “ Let ’ s take internet services , for example . I ’ m amazed at the number of MSPs that don ’ t sell this to their customers . There are master agents out there who will pay anywhere from 14 % to 20 % commission for selling their services . That ’ s a no-brainer . Just profit to the bottom line , with little residual pieces to manage .”
Watch The Full Unedited Interviews With The Titans Here For FREE
Watch some of my personal , one-on-one , full interviews with the MSP Titans to dive deeper into what the most successful , fastest-growing MSPs are doing in their businesses .
MSPSuccessMagazine . com / titans
Now Is The Time To Take Action
Yes , it ’ s a trite saying , but now more than ever , MSPs should “ make hay while the sun shines .” There ’ s a reason why so much private equity and so many VCs are funding MSPs right now . The conditions are ideal . MSPs have gone “ mainstream ” and are considered one of the hottest , most viable markets for investors . Kaseya securing the naming rights of the Miami Heat arena is yet another signal that MSPs are finally getting the respect they deserve . The fact that Kaseya has a $ 21 billion valuation alone is proof that the MSP industry is ripe for opportunity and growth .
I will leave you with this advice from Ryan Denehy of Electric : “ Start by deciding what you want and when you want it . I talk to a lot of people who own MSPs and haven ’ t figured out what it is they want out of it , which means they don ’ t know how to get to where they want to eventually be ( which is usually retirement ). They always say how great it would be if someone offered them a lot of money for their business , but they haven ’ t taken the time to think about what they need to do to make that happen . If you want to keep building your MSP slow and steady and maintain your lifestyle , that ’ s fantastic . But if that ’ s not what you want , then you need to figure out exactly what you want , when you want it , and how to get it . Then , the only thing standing between you and that exit is your willingness to learn from people who have done it before you and to build a concrete plan to get there . Be intentional about your goals .”
Robin Robins is the IT industry ’ s most in-demand marketing consultant , sales trainer , and direct response marketing consultant who specializes in developing strategic marketing , sales and lead generation systems for MSPs , VARs and IT services companies .
Robin is the Founder of Technology Marketing Toolkit , MSP Success Magazine and Big Red Media .
1 . Based on data received from Service Leadership ’ s Paul Cissel , CEO of Growth Caddie . 2 . Based on data received from Service Leadership ’ s Paul Cissel , CEO of Growth Caddie .
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