MSP Success - Volume 1 Issue 8

MSP Success - Volume 1 Issue 8

MSP SUCCEESSS MAGAZINE

Robin ‘Relentless Red’ Robins Defends Title And Delivers The Biggest Virtual Boot Camp In IT Industry History

MARCUS LEMONIS REVEALS Now’s The Time For MSPs To

Double Down On Marketing

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Atlantic, Tomorrow’s Office

COVID-19 Find Out Why The Future Of Your MSP May Never Be The Same

Growing Through Adapting

To Optimize Your Value

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Page 12

June/July 2020

MSPSuccessMagazine.com

Double Your Revenue Roadshow 2-Day Intensive Workshop On How To Double Your IT Sales And Profits WITHOUT Needing New Clients, Doubling Your Prospecting Efforts Or Overloading Your Technical Team Technology Marketing Toolkit Invites You To The 2020

Locations And Dates:

Omni Orlando Resort at ChampionsGate Dates TBA Orlando, FL

Hilton San Diego Bayfront Oct 29-30 San Diego, CA

Omni Dallas Hotel at Park West Sept 1-2 Dallas, TX

Marriott Indianapolis North Sept 22-23 Indianapolis, IN

Loews Philadelphia Hotel August 20-21 Philadelphia, PA

This Event Will Reveal How To Double Your IT Sales And Recurring Revenue (MRR), Selling Compliance As A Service, Cyber Security Solutions, Disaster Recovery As A Service, Co-Managed IT And Other Hot, Trending And In-Demand IT Solutions To New And Existing Clients.

www.MSPSuccessMagazine.com/double To Get Full Details And Reserve Your Spot Go To:

I've been a client of Robin's for nearly seven years, and you might think that there is nothing new to learn. But I came away from the Roadshow energized and full of new and exciting ideas for growing my business, which is EXACTLY what I wanted to get out of the day. “Exactly What I Needed!” James Kudla - Tarrytech Computer Consultants

Volume 1 Issue 8 CONTENTS

6 How COVID-19 Is Changing Cybersecurity Tides The Changing Reality Of Remote-Work Security 8 Robin ‘Relentless Red’ Robins Defends Title And Delivers The Biggest Virtual Boot Camp In IT Industry History 12 MSP Spotlight: Grow And Optimize Your

23 The Biggest Ways MSPs Burn Profits Cleaning Up Your Sales Funnel: Part 1 25 Rockefeller Habits Checklist: Part 1 5 Tried-And-True Strategies For Sustainable Growth 27 Words Of Wisdom Take A Page From These Experts’ Books

Value With Atlantic, Tomorrow's Office

18

14 5 Money ‘Honeypots’ To Find More Clients, Profits, And Sales Right Now

Marcus Lemonis' Keys To MSPs Thriving During A Crisis

22 MSP Hot Tech:

5 MSP Tool Giveaways In Response To COVID-19

VOLUME 1 I SSUE 8 • MSPSUCCESSMAGAZ INE.COM | 3

LETTER FROM THE EDI TOR

3 Things That Have Changed In This New Economy

Well, it’s not like we didn’t know an economic adjustment was coming —we just didn’t think it would happen this way or this fast. For a decade, we’ve had a “money running uphill” bull economy, with everyone overspending and over- indulging. Pretty much anyone running a business could make a living (not get rich, mind you, but earn a wage). Now, we’ll see a rapid thinning of the herd. Personally, this is not the first recession I’ve been through, and I’m sure it won’t be the last. Back in 2009–10, we saw over 20% of our client base disappear . Most folded and got a job. Some sold for pennies and went to work for the company that bought them. Some changed careers entirely, thinking there were greener pastures. (I now wonder how they are faring since IT is one of the industries that has been the least impacted by COVID-19 shutdowns.) Back then, I was not as prepared as I am today to deal with such a setback. I learned. One of the marks of intelligence is not making the same mistake twice . Sometimes you win, and sometimes you learn . From my experience, three things will change for IT services businesses in this new economy. If you want to avoid a major loss of clients, income, profits, and personal wealth, then you need to know what these changes are and get ahead of the threats before you’re too far under to stay afloat. 1. The Buyer: Some of the MSPs I’ve talked to that primarily serve retail, restaurants, and hospitality have been decimated, losing 70%–80% of their income, and there won’t be a quick rebound for most. Others serving the medical or professional services businesses (like CPAs and law firms) have seen an increase in sales. So, the first thing you have to decide is what percentage of your client base is and/or will be no longer viable. If you find yourself on a sinking ship, then it’s better to jump in a dinghy and row to a safer port rather than play music like the band on the Titanic. Second, the power has shifted to the buyer, and they know it . The new buyer will be far less tolerant of sloppy, ordinary services. There will be hungry competitors out there willing to work for beans to steal your clients away, and they will. If you cannot defend your value right now, then you’re headed for trouble . Everyone is watching costs and reconsidering all vendors, asking themselves, “Is this necessary?” and “Where might I get this cheaper?” To be clear, I think it’s foolish to jump to discounting or take any client that can wave a dollar and fog a mirror, but selling to new buyers will require a much higher level of sales skills and knowledge as well as being more thoughtful and strategic about what you sell and to whom. 2. The Cost Of Client Acquisition: Without a doubt, money will be parked for a while, and fewer opportunities will be available. That’s not to say there won’t be companies spending — there undoubtedly will be. But people will be more hesitant to invest in an upgrade or take on a new project unless they deem it essential. In our organization, we’ve NOT seen a dip in leads — just the opposite. But what we have seen is a dip in people deciding to buy now and/or take the higher-end (more expensive) services we offer, mostly out of fear and uncertainty. To combat this, we’ve tightened the qualifications of our leads and changed our programs to include services that are of interest right now (for example, how to fuel leads with cheap digital marketing and advertising). We’ve also increased the number of follow-up steps, webinars, touches, etc. In doing so, we’ve

Founder and CEO, Technology Marketing Toolkit, Inc.

been able to maintain margins and hit goals, but we’ve had to work a lot harder for it. You will too . 3. The Need: The famous American bank robber Willie Sutton was once asked why he robbed banks. He replied, “Because that’s where the money is.” You need to think like good ol’ Willie. Where is the money now? Who’s got money, and what will they want to buy? To take another chapter fromWillie’s book, the easiest way to close a sale is with a loaded gun in your hand. In IT, your “loaded gun” is compliance . According to Fred Voccola, CEO of Kaseya, approximately 78% of SMBs expect to invest in compliance as a service in 2020 thanks to new regulations such as the Stop Hacks and Improve Electronic >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28

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