Shark Tank’s Daymond John offers up some OPM advice

Posted by Mike Vizard on May 18, 2017 10:47:59 AM

As a co-host of Shark Tank, Daymond John, the founder of FUBU clothing company, evaluates new business pitches from entrepreneurs each week on the TV show, and he has some advice for IT service providers. Instead of looking for additional investors, John says they should spend more time developing an OPM strategy. That means not only spending other people’s money, but also leveraging other people’s marketing and manpower — and, arguably most importantly, learning from other people’s mistakes. Most businesses, says John, do not need an infusion of outside capital to get up an running.

Speaking at an SAP Global Partner Summit conference this week, John says the most important thing business executives need to remember is to sell themselves rather than the product. People can buy a product from any number of sources. John says they need to have confidence in you as a person to fulfill the delivery of that product in a way that creates a better experience.

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Topics: Growing Your MSP Business

Helping your SMB customers achieve their business objectives

Posted by Neal Bradbury on May 8, 2017 3:16:22 PM

Building your customer base is important—especially as an MSP. You need to continue to cultivate your relationships with current customers and add new ones in order to grow and develop your MSP business.

The opportunity to grow your customer base is out there. According to the Small Business Administration there are nine million businesses that have between one and 500 employees, and there are 19 million sole proprietors. This creates tremendous opportunities for your business to continually grow—you just need to find a way to catch the attention of the right organizations and demonstrating how your services can help them.

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Topics: Growing Your MSP Business

4 tips for adding managed services successfully

Posted by Lindsay Faria on Apr 27, 2017 1:30:00 PM

Whether you’re a VAR, break-fix service provider, or even an MSP that’s getting started, the thought of adding or expanding your managed services offering doesn’t need to be a daunting one — as long as you take advantage of the resources available to you and learn from the experiences of those who’ve walked the path to managed services success before you.

I recently had the pleasure of working with some of our Partners and my colleagues to produce an online panel-style session discussing just this topic, and I have to say, it was a very interesting conversation! Here are the four pieces of advice that stuck with me:

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Topics: Growing Your MSP Business

MSP profitability: The real reason you aren’t getting results you want

Posted by Anne Campbell on Apr 26, 2017 11:25:00 AM

For MSPs, it can be easy to fall into the trap of thinking success is just around the corner for your business. You convince yourself that you just need to find a little more time to work on improving your business or hiring the right sales person or tackling any of the items on your to-do list that you keep putting off because you’re too busy putting out fires for your customers.

In our new e-book, The MSP Profitability Playbook: Your Guide to Generating More Revenue and Making Your Business More Successful, Gary Pica of TruMethods calls this phenomenon the “around the corner” mentality. He explains that many of the MSPs he’s met over the years suffer from it.

MSP Profitability Playbook

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Topics: Growing Your MSP Business

Webinar: Find success by transitioning to managed services

Posted by Anne Campbell on Apr 12, 2017 9:30:00 AM

It’s a good time to be an MSP. Markets and Markets predicts the global managed services market will grow to $242 billion by 2021 at a compound annual growth rate of 10.8 percent. MSPs have high expectations for the impact this growth will have on their businesses.

According to CompTIA’s 5th Annual Trends in Managed Services report, half of the service providers surveyed predict that the managed services portion of their business will undergo high growth over the next two years and make up 75 percent or more of their total annual revenue. Another 45 percent of respondents expect to see managed services increase and account for at least half of their total revenue in the same time period.

Register for the webinar

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Topics: Growing Your MSP Business

2 Critical findings from Kaseya’s 2017 MSP Global Pricing Survey

Posted by Neal Bradbury on Mar 24, 2017 4:26:28 PM

Looking to grow your MSP this year, but unsure which trends to capitalize on? In the 2017 Kaseya MSP Global Pricing Survey, MSPs from around the world weighed in on market growth, what sets high-preforming MSPs apart, and technology trends that can help you provide better services to your SMB customers. This year’s survey compiles data from more than 900 MSPs in almost 50 different countries. To help you learn more about how to grow your business and increase your 2017 profits, we will be hosting a webinar with Kaseya on Thursday, March 30.

Looking at this year’s survey, I saw a number of opportunities and trends that MSPs could capitalize on to increase their 2017 profits, but two areas really stood out to me. 

Register for the webinar

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Topics: Growing Your MSP Business

2 MSP resolutions and how to keep them

Posted by Lindsay Faria on Feb 15, 2017 9:30:00 AM

It’s hard to believe we’re already well into the second month of 2017. According to the Statistic Brain Research Institute, more than 40 percent of people who made New Year’s Resolutions have given them up by now. So if you’re one of the committed ones — congratulations!

A few weeks ago, I was chatting with some of our Partners to learn more about what their resolutions for 2017 were (both professionally and personally), and I was surprised at how clearly a couple of trends defined themselves. Literally 100 percent of the ‘personal’ resolutions had to do with personal health and fitness. Awesome! And, there were trends just as clearly defined when it came to our Partners’ professional goals. Apparently, MSPs are heavily invested in two key areas in 2017:

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Topics: Growing Your MSP Business

Robin Robins: How do I monetize thee? Let me count the ways …

Posted by Robin Robins on Feb 13, 2017 12:18:57 PM

My friend Michael Attias runs a catering-software business that helps restaurant owners generate a significantly higher profit margin in their business by selling catering. The other day he was explaining a new done-for-you online marketing service he was about to launch that would drive new catering business to the restaurant, but that many restaurateurs would consider “pricey.” 

He argued (backed up with logic and reasonable business math) that while the first order may be break-even, they could easily make that back from the repeat purchases made over time — and therein lies the hair in the proverbial butter with his argument. MOST restaurateurs don’t track sales metrics like this and don’t have a CLUE what the average client is worth, how often they repeat purchase, what their referral activity is (or isn’t). Because of that, I predict he’s going to have a TOUGH time selling this service, even if he can logically demonstrate the long-term ROI.

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Topics: Growing Your MSP Business

Ask Intronis: How to maintain a healthy database as an MSP

Posted by Lauren Beliveau on Jan 16, 2017 8:30:00 AM

Q: We have a lot of names in our database of customers and prospects, but most of the information is outdated, wrong, or missing. To grow our MSP, we really need to get this problem under control. How can we clean up this data as we continue to add new leads?

Maintaining a lead database with updated information can be tough. People leave companies, emails get updated, and phone numbers change. So staying in contact with potential prospects can be a challenge for MSPs. Whenever you generate new leads, you should consider collecting accurate contact information for future communications, because the truth is that most leads aren’t ready to buy on the first contact. With more contact information, you can nurture leads over time, but also have a better chance of staying in contact and making that sale over the long run.

To help set your team on the path for success, we consulted Richard Delahaye, the senior director of marketing at Intronis MSP Solutions by Barracuda. Building a great database won’t happen overnight, but little improvements can help restore the integrity of the data in your system. Richard shared his advice on how to strengthen your current data and tips on how to collect better contact information as your database continues to grow.   

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Topics: Growing Your MSP Business

The MSP’s Bookshelf: The 5 Dysfunctions of a Team

Posted by Lauren Beliveau on Jan 10, 2017 1:16:46 PM

It’s not surprising that teamwork is a consistent challenge for many companies. With different personalities and different backgrounds, team members can have difficulty finding common ground. Even small organizations can face challenges and disagreements—but if there isn’t any conflict on your team, that could create problems as well.

Ultimately, you want your team to be harmonious, but there should also be a balance of conflicting viewpoints or ideas that allows perspectives to change and your team to grow. To help you strengthen your MSP team, we read The Five Dysfunctions of a Team by Patrick Lencioni. Here, we examine the top pitfalls that dysfunctional teams face and share Lencioni’s advice on how you can overcome them.

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Topics: Growing Your MSP Business

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