Click above to watch the recorded webinar.
To those of you out there running your own businesses, I have a new found respect for what you do. Last week I had the privilege to moderate a webinar centered around how to grow Monthly Recurring Revenue (MRR) while reducing risk and cost. Paul Dippell, CEO of Service Leadership Inc., and Doug Grimm, Vice President and General Manager of Collabrance, presented the webinar. They both outlined all of the things Managed Service Providers (MSPs) need to do in order to make their managed services business profitable. What did I learn from listening to these two industry thought leaders?
Starting a business is HARD! Running a business is even HARDER! Growing your business to be a profitable money making machine… (insert exploding head)! Oh by the way, the investment to “get there” in a managed services business can be upwards of $1.5 million! WOW!
According to Paul, the ingredients to a successful MSP are service quality, financial acumen, and sales. Each of these things can only be successful with the right people, processes, and technology. Let’s think about people, processes, and technology for a minute:
These questions are just the tip of the iceberg on what you need to know for running a managed services business. There is so much to know and learn, and this is why several small business owners end up spending nights and weekends working IN their business instead of ON their business. Unfortunately, many MSPs don’t make the money they want to make, or have the freedoms they wanted to have when they started their own managed services business.
What if you didn’t have to do all of this yourself? What if you could partner with someone who already did all of the “dirty” work and upfront lifting? What if you had a resource that proactively shared the latest best practices needed to be profitable? What if you could partner with a company who has already built the people, processes, and technology to be successful? What if your company could tap into these resources instead of building and creating your own? What if your primary focus could remain in generating revenue for your business?
Collabrance hosted an additional session of this webinar with Service Leadership and Paul Dippell due to the popular demand and value it provided for attendees. You can find a recording of the webinar above to watch at your own convenience. If you want to learn more about a different way to go about running your managed services business that gives you back the majority of your time, takes away the majority of your headaches, and can be executed at a fraction of the investment of building everything yourself, watch our follow-up “Getting Started” webinar, and speed up your success!
Jim Hocking is the Director of Strategic Relationships at GreatAmerica Financial Services in the Connected Technology Group. Jim started at GreatAmerica in 2011 and has held multiple sales positions and mentor roles in the Office Equipment Group, the Communications and Data Group and most recently served as the Director of Sales for Collabrance from 2016-2018.