2 min read

Dimes, Dollars and Profit

By Adam Walter on Aug 8, 2022

Apple Podcasts: https://apple.co/2NHRRDl
Spotify: https://spoti.fi/3AyHCUd
Youtube: https://youtu.be/fjYb1uKnNNQ

Dimes, dollars and profit. Put away every dime you make and save it for the future. It’s an idea we’ve all heard and are eager to follow because it usually makes more sense to save every penny. But the truth is that stashing money away will never lead to making a profit. You’ll start making money when you prioritize where to spend your time, making human connections and even where to spend your money.

In the corporate world, it’s not unusual to find oneself doing nothing and still making money. But as MSPs, we don’t have that luxury. We have to keep things moving, provide solutions for our clients and, most importantly, have conversations.

We’ve all found ourselves in those meetings - the kind that can last for hours and take up huge portions of the day. Meetings are important. It allows us to sit down and hammer out all the kinks that may be holding us up and plan for the future. But if these happen too frequently, you’re spending money paying your employees to sit in, they’re losing out on the time where they could be helping your clients and you are losing opportunities for more client engagement. Again, meetings have their place and purpose. However, it is imperative that you prioritize topics of discussion to ensure that you’re spending your time and money wisely.

Sales are important. It’s what keeps your business growing and makes your money. But when you walk into a meeting with a potential client, you’re not just selling your product or services. You’re selling your story, listening to theirs, and aligning them so that you can both be excited about your venture together. Make your client engagement memorable. Get to know them. Take them to dinner at their favorite restaurant for your next quarterly meeting. Host an event where your new and existing clients can get together and have fun! Customers are more likely to do business with you if you have taken the time to engage with them. When they know you understand their mission and are passionate about the value you bring to their success, you can continue cultivating a lasting relationship, even if your competitors have lower prices.

In the tech world, we tend to be service driven. We have a task or goal and work to get the job done. We focus on the operations and forget about the human element that drives people to want to do business with us. Balance operations and the time you take to engage with customers and staff. The personal touch is guaranteed profit. Your staff feels heard and valued and your clients know that you are invested in their mission. Make sure you are someone that you would do business with, someone you want to work for.

Turn your dimes to dollars and start making a profit! Human engagement with both your clients and your staff will drive up your revenue and make your work enjoyable for everyone involved.
yone involved. 

Topics: IT Sales Person MSP Pricing IT Business Development Humanize Podcast
6 min read

How to bridge the gap between cyber security technologies and business value

By Denes Purnhauser on Dec 3, 2020

The borders of the network have disappeared, and people have moved out of the office with minimal focus on securing their remote environment. Ransomware events are increasing in both frequency and amounts demanded. Compliance and certification is getting more focus as governments move to support cyber security initiatives. The news is full of talk about security concerns. 

Despite all the trends favouring cyber security related services, the gap is still growing between the real value of cyber security Services and their perceived business value. 

In this article we go after why MSPs still seem to be struggling to articulate the business value of higher cyber security standards, creating proper business development plans and capturing the market opportunity. That leads to all kinds of problems for clients, including not being protected. Bad executive decisions mean MSPs cannot monetize cyber security services and end up hurting their bottom lines.

Topics: Managed Services Providers IT Account Management Strategic Leadership NIST Cyber Security IT Business Development
8 min read

The 4 Steps of Successful Cyber Security Service Monetization

By Caleb Christopher on Aug 15, 2019

In my observation, previously working for an managed service provider and now with MSPs: for some, monetizing security is an elusive goal that seems to be reserved for those who already have connections, experience, and the right customers. Why?

Topics: IT Sales NIST Cyber Security Implement New IT Services IT Security IT Business Development
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