5 Sales and Financial Blog Posts MSPs Gotta Read
So, you’re a managed services provider looking for some key sales, financial and business insights. By all means: Keep coming to MSPmentor. But I also need to tip my hat. In recent days, the team over at SMB IT Pros has delivered some compelling content and guidance for MSPs. Here’s a look at what they’ve been up to…
First a little background. SMB IT Pros is a web site run by Everon Technology Services, a managed services provider that has landed on the Inc. 5000 and MSPmentor 100 lists multiple times. Everon CEO Mike Cooch and his team have full-time jobs running their MSP business plus some upstart operations like Kutenda. Somehow, they also blog from time to time. Here’s a look at their recent chatter:
1. Sales Compensation Models for MSPs: I often point readers to so-called Sunset Clauses and a rather interesting sales compensation plan used by Jenaly Technology Group in New Hampshire. But SMB IT Pros furthers the conversation with this post.
2. Five Secrets to MSP Profitability: Here again, MSPmentor has touched on Open Book Management, where you share some key company financial information with your employees. But Mike Cooch offers some additional advice on benchmarking for success.
3. The Managed Services Sales Process: During our MSPmentor Live webcast yesterday, CharTec CEO Alex Rogers made the point that you shouldn’t do any selling — none at all — during your first meeting with a potential client. Instead, it’s all about listening and asking questions. After the initial meeting, organize your thoughts into a business recommendation — which you’ll make during your second meeting with the target customer. Here again, Cooch furthers the discussion with some practical advice on sales processes.
4. Know Your Managed Services Sales Goals: Great topic. When we launched MSPmentor, I got a lesson in MSP management from J Michael Drake, CEO of masterIT. He described how masterIT measured everything about the company’s business performance — and then tried to beat that performance each month. Basically, masterIT works incredibly hard to compete against its own benchmarks and baselines. SMB IT Pros offers a similar thought process on tracking sales goals.
5. Referral Programs for MSPs: Frankly, I worry when VARs and MSPs complain about receiving too few leads from their vendor partners. VARs and MSPs should have their own lead generation processes. Cooch walks readers though a simple process, to help MSPs ask their customers for referrals.
Even if you don’t agree with some of the advice, Cooch dishes out plenty of real-world experiences that upstart MSPs will likely value.