Much like a thermostat in a room , there ’ s a “ money ” setting everyone has where they feel comfortable . If they generate LESS , the heaters kick on , and they ’ ll start marketing , selling , etc . But the MINUTE they hit their comfort zone in income or fees , they start lowering their rates , giving discounts , doing work for free , or any number of things that crush their ability to grow and be profitable . We see this show up when selling our products and come across the objection “ That ’ s too much money .” My favorite question is “ Compared to what ?”
Now , here ’ s a REALLY important question for YOU : What ’ s your thermostat set to ?
5 % Formula — Factor # 3 : Sufficient Deal Flow
One of my long-term clients , Tim Conkle , who grew a VERY successful $ 10-million-plus MSP and is now founder of the fast-growing group The 20 , was presenting to a group of MSPs . During his presentation , he made a single , profound statement : “ You want to know the real difference between my company and yours , and why I ’ ve been able to grow it to $ 10 million and you haven ’ t ? My phone rings .”
Think about that for a moment . How different would your business be if you could count on your phone to ring every single week — if not every single day — with quality prospects inquiring about hiring you ? How confident would you feel investing in resources , people , and tools you desperately need , knowing the sales and profits would be there to fund it ? How tolerant would
you be of your cheap , whiny , slow-or-no-paying clients if you knew your phone would be ringing with brand-new prospects eager to outsource their IT support to you ? How much confidence would you feel in raising your rates — or sticking to them — if a prospect wanted you to give them “ a break ” or discount your fees ?
Imagine being able to make enough profit to pay off your debts , store up cash reserves , AND easily pay yourself a fat salary . What kind of impact would that have on your stress levels ? What about on your ability to make business decisions from a place of control , security , and power instead of scarcity and fear ? THAT is what having sufficient “ deal flow ” can do for you . It IS the fuel , the lifeblood , and the juice that feeds your business and keeps it healthy and profitable .
Yet , the VAST majority of MSPs will admit that marketing , which makes the phone ring , is the activity they most neglect . It doesn ’ t take a genius to see the correlation .
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