New Tip: Tech Time Warp: The slow rise of video phones Chances are you’ve used Zoom, Skype, or FaceTime in the past week. Video-conferencing is so entrenched in modern life, it’s hard to understand why a May 30, 1996, announcement by AT&T and Intel about their new PC-based videophone left some experts shaking their heads. The Pentium processor and compression software had made video conferencing a feasible option and, as the 1996 Intel annual report pointed out, a videophone could show grandma your kiddo’s artwork across hundreds of miles. On the other hand, a commercial featuring Seinfeld’s Jason Alexander demonstrated a possible downside to videophone use. The first “Picturephone”The thing is, the idea had been tried before, without great success. As early as the 1880s, inventors and futurists dreamed of pairing a visual with Alexander Graham Bell’s invention. After several false starts over the next 80-something years, visitors lined up to try Bell Telephone’s Picturephone at the World’s Fair in 1964. From booths in New York, they spoke with fellow Picturephone users at Disneyland in California. You had to stand extremely still to stay in the picture, but it was a true video call. Video conferencing is still relatively new, but #DidYouKnow that one of the first video calls was at the World’s Fair in 1964?
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In June 1964, Bell made the Picturephone commercially available, with stations in New York City, Chicago, and Washington, D.C. The only catch was the price: A three-minute Picturephone call cost $16, or more than $120 in today’s money. The Picturephone effort ended in 1972. After the AT&T/Intel experiment failed to take off in the late 1990s, analysts continued to say no one wanted to be seen while talking on the phone. As recently as 2000, The New York Times quoted AT&T’s corporate historian as calling the videophone “the most famous failure in the history of the Bell system.” Another line from the same article: “… there are still people who believe that the videophone will someday become a fixture in the home.” Judging from the success of Skype, Zoom, and the like, it turns out people don’t mind being seen — they only mind paying extra money to buy equipment to be seen. Photo: Hermes Rivera / Unsplash Looking for Affordable Managed Services Provider in Carson City? Learn More and Get a Fast and Easy Quote Now. Visit Carson City Managed Services Here: Source: Smarter MSP Read more here: https://managedservices.home.blog/2019/05/31/tech-time-warp-the-slow-rise-of-video-phones-managed-services-tips/
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New Tip: The three things MSP buyers are looking for that are not “low price” At Boot Camp, I shared the research I’d compiled on what clients want from their IT provider. This research was based on examining the responses to a testimonial request e-mail we have our MSP clients send to their best clients. I compiled and keyword-analyzed over one thousand candid, unedited replies to those e-mails to determine the commonalities of what IT buyers truly valued. Out of all those responses, not one – and I do mean NOT ONE – said they wanted the “lowest price” or “cheapest cost.” So why does it seem like so many IT services sales are lost to cheaper competitors, or are lost over price? Stop worrying about priceFor starters, the seller (you) is ALWAYS more emotionally charged about price than the buyer. When the seller is nervous about discussing price, they tend to only “see” and “hear” things that verify their belief that people buy on price and don’t want to spend money on IT. When it comes to #price, the seller is ALWAYS more emotionally charged than the buyer. #MSPsales
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Second, the salesperson’s discomfort with price manifests itself in the sales meeting, showing up as a lack of confidence or that they are hiding something – which breaks trust. Since prospects sense uncertainty like a dog smells fear, they react to it. This causes them to hesitate without knowing why they don’t “feel right” about doing business with you. Finally, “the price is too high” is the easiest objection to throw at a salesperson. They don’t want to tell you the truth – that they didn’t think you were very professional or competent. Instead, they say it because it doesn’t require an explanation. While it’s foolish to spend too much, it’s FAR WORSE to pay too little and get less than you need or a lower quality. After all, if you pay a little too much, the worst you’ve lost is a bit of money. If you pay too little, you could risk it ALL when the service you bought and the company you bought it from is incapable of doing what you bought it to do in the first place. While it’s foolish to spend too much, it’s FAR WORSE to pay too little and get less than you need or a lower quality. #MSP #sales
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We all know you get what you pay for, and if you pay too little, you cannot expect high quality. Common law in business prohibits that from being a reality in every field and profession, but that doubles when talking about professional services. What DO clients want to buy?
According to the Lux Research Report, the average consumer is willing to pay an average of 11 percent MORE for common goods if they’re delivered to them or made convenient. Your clients want a partner that makes IT/compliance/technology EASY for them. That includes EASY to get in touch with, EASY to get answers from, EASY to get things done.
Worrying less about price and providing more focus on these three aspects of your MSP’s services will lead to more successful sales conversations for your business. Now, it is just up to you and your staff to start driving those conversations. Photo: NATNN / Shutterstock Looking for Affordable Managed Services Provider in Carson City? Learn More and Get a Fast and Easy Quote Now. Visit Carson City Managed Services Here: Source: Smarter MSP Read more here: https://managedservices.home.blog/2019/05/30/the-three-things-msp-buyers-are-looking-for-that-are-not-low-price-managed-services-tips/ Increased complexity pushes internal IT teams closer to the breaking point Managed Services Tips5/30/2019 New Tip: Increased complexity pushes internal IT teams closer to the breaking point The decision to rely on a managed service provider (MSP) often comes down to the IT skills, or lack thereof, any organization has at hand. The more complex the IT environment, the thinner the level of expertise that can be reasonably be attained and maintained by an internal IT team. In fact, many internal IT teams are nearing a breaking point, according to a new survey of 500 IT professionals with data center, server, and cloud infrastructure responsibilities working at organizations in the U.S. and Canada. The survey was conducted by Precision Sample, on behalf of INAP, a provider of application hosting services. The survey finds that over half of respondents (53 percent) feel they are playing anywhere from two to five roles inside their organization. Just under a third (27 percent) play five to ten roles, while 13 percent play a different role within their organization every day. The more complex the IT environment is, the thinner the level of expertise that can be reasonably be attained and maintained by most internal IT teams. #ManagedServices #ITskills
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What makes things even more challenging, is that this comes at a time when the rate at which IT environments are being transformed has never been higher. The INAP survey reveals 37 percent are refreshing their IT skills monthly, while only 11 percent do so on a weekly basis. Three quarters of those surveyed are engaged in some form of continued learning or training on at least an annual basis. A full 71 percent admit they could use more training on all the different types of server and cloud infrastructures that their organization either currently uses or plans to soon use. MSPs can rescue mismanaged internal IT teamsAs organizations expand their reliance on IT to drive successive waves of digital business innovation, many of them are not making the appropriate levels of investment in their people. Organizations are deploying new applications and platforms, while assuming the internal IT team will just magically figure out how to make them work. In many cases, the rush to modernize processes in a way that will impress shareholders borders recklessness. The only thing worse than being viewed as a laggard is introducing a so-called innovation that flat out fails. More than a few MSPs have been benefiting as of late when they find themselves being called in to clean up the subsequent mess. Savvy MSPs are trying to get ahead of that inevitable crash and burn IT innovation cycle. While trying to exploit the limited internal IT resources the organization does have to the breaking point, many business executives don’t always have a high degree of confidence in their internal IT organization. They would prefer to not incur the expense of having to rely on external IT expertise and they usually find that internal IT teams are always more than willing to tell them anything they want to hear. However, in their hearts, business executives know that the odds of an internal IT organization driving a successful IT transformation on their own is minimal, primarily due to a lack of training. Most internal IT teams are so busy trying to keep existing systems running that there is little time for training. MSPs now have a two-fold opportunity. First, they must let the business owner know a viable alternative exists. Next, MSPs need to find a way to interact with the internal IT team, while minimizing any perceived threat to their continued existence. IT egos are fragile — when slighted the IT staff will look for every opportunity to undermine the MSP. When presented with the inevitable need for external help, most IT organizations will lean one of two ways. One half will want to dump what they perceive to be the most mundane, routine tasks on an MSP. The other half will want to hire an MSP with expertise in emerging technologies they would like to learn. Each MSP needs to decide where on that spectrum they want to focus their effort based on the skills of the team they can hire and retain. Whatever the path chosen, internal IT teams may not necessarily be welcoming MSPs with open arms, but at the same time, most of them have probably never been more open to working with an MSP than they are today. Photo: New Africa / Shutterstock Looking for Affordable Managed Services Provider in Carson City? Learn More and Get a Fast and Easy Quote Now. 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Are You Looking for info about Fernley Managed Services? Learn more about Recommended Managed Services Provider Fernley. This video also covers Top Managed Services Provider Fernley. You will also get info about Affordable Managed Services Provider Fernley and Computer Services Fernley. And it covers info about Best Managed Services Provider Fernley… This Video is For You if you Have Been Searching For: – Affordable Managed Services Provider Fernley – Top Managed Services Provider Fernley – Best Managed Services Provider Fernley – Recommended Managed Services Provider Fernley – Computer Services Fernley Learn More Here: https://fernley.managedservices.biz/ Read more here: https://managedservices.home.blog/2019/05/30/recommended-managed-services-provider-fernley-managed-services-fernley-video-tips/ New Tip: Building a defense from social engineering attacks Last week Smarter MSP examined the security threat that social engineering poses to organizations of all sizes. Social engineering is a technique that hackers use to gain access to an organization’s network, without having to break down the metaphorical door. After all, why should you waste time breaking down the door, if someone will open it for you? Smarter MSP recently hosted a roundtable discussion with an expert team from the University of North Dakota, to learn how MSPs can combat social engineering attempts. We found that some of the best work in cybersecurity is taking place on the plains of America’s breadbasket. Joining the discussion are James Maguire, Security Engineer at High Point Networks, Martin Pozniak, a University of North Dakota cybersecurity graduate, and Dr. Prakash Ranganathan, the director of the university’s cybersecurity studies program. Why is social engineering such a powerful tool for hackers?Social engineering is a powerful tool for hackers because they can evade traditional network defenses through non-traditional strategies. Controls such as anti-virus, firewalls, or encryption do nothing to stop a user from willingly giving their credentials to an attacker. #SocialEngineering helps hackers by evading traditional #CyberSecurity defenses. Security awareness and education training are the best ways to protect employees and customers,
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Even when a company implements the most state-of-the-art technical and physical security measures, all it takes is a single employee to mistakenly trust an adversary one time and inadvertently provide a way into the system for the attacker. Social engineering can be non-technical and doesn’t need to involve exploitation of hardware, software, or firmware systems. If successful, employees can give access and compromise legitimate information. However, you can’t expect people to be perfect 100 percent of the time, which is why social engineering attacks will continue to be employed by hackers. What can MSPs do to combat social engineering-based attacks from hackers?Education and awareness are the keys to preventing your organization from falling victim to savvy attackers who are trying to gain access to sensitive data. MSPs can combat social engineering attacks by spreading awareness and informing their clients of such attacks. MSPs should also be aware that they may be impersonated, meaning an attacker could send an email or place a phone call to a client while posing as the MSP. This scenario could also be reversed, as an attacker could pose as a client and call the MSP to request access to a system or credentials. Both the MSP and the client should have a clear understanding of how systems are accessed, how credentials are secured, and how an individual’s identity is verified over the phone and through emails. Ultimately, it all comes down to training. Employees and people need to learn that these threats are very real and very prevalent. Everyone wants to be nice and help their fellow man by giving out some information or holding a door open for them. Unfortunately, in this age, attackers take advantage of such gestures and use them to gain unauthorized access to secure systems. Employees must be trained to follow a very specific protocol when giving information, providing physical access, or otherwise dealing with information between people within, or outside of, the company. What are some of the ways in which hackers are using social engineering?The most common use of social engineering is a phishing email. Hackers will craft email messages to make them appear to be coming from a legitimate organization, like Amazon or UPS. Email users should carefully scrutinize the domain the email is sent from and verify that it matches up with the company’s actual domain. Hackers craft #SocialEngineering emails to appear to be from a legitimate organization, like Amazon or UPS. Email users should carefully scrutinize the domain the email is sent from. #EmailSecurity
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Approaches like impersonation can be used to gain physical access to buildings or secure areas. An attacker can simply dress up like an IT person, print a fake badge that looks believable, and the front desk may be happy to let them through. Other social engineering tricks include: Tailgating, or piggybacking: This is also used to gain unauthorized access to physical locations. An example is following someone with access to a secure facility through the door. Smarter MSP notes that is a building security issue as much as anything and MSPs need to be working with all stakeholders in an organization, including physical security staff. Credential Harvesting: Hackers steal credentials of employees by creating fake login pages that look legitimate. Many of these attacks can be strung together and used over time to successfully exploit a company. Baiting: Attackers leave a malware-infected device, such as a USB flash drive or CD, in a place where someone will likely find it. Success hinges on the notion that the person who finds the device will load it into their computer and unknowingly install the malware. Once installed, the malware allows the attacker to advance into the victim’s system. To thwart this attack, a person needs to be careful with unknown devices. Pretexting: An attacker fabricates false circumstances to compel a victim into providing access to sensitive data or protected systems. Examples of pretexting attacks include a scammer pretending to need financial data to confirm the identity of the recipient or masquerading as a trusted entity, such as a member of the company’s information technology department, in order to trick the victim into divulging login credentials or granting computer access. What are some of the biggest social engineering connected cyberthreats?The biggest social engineering connected cyberthreats are those that pose the risk to human life and safety. Hackers have already proven that they can gain access to credentials and systems using targeted emails or phishing emails. Look no further than the 2016 Clinton campaign, when Russian hackers used spear phishing emails to target staffers. Also, the 2016 Western Ukraine Power grid attack that left 230,000 users in dark. The attackers were skilled and stealthy strategists who carefully planned their assault over many months, first doing reconnaissance to study the networks and siphon operator credentials, then launching a synchronized assault in a well-choreographed dance. Hackers will continue to use phishing emails to target organizations. If hackers can compromise businesses in the transportation, healthcare, or energy industries, they may be in a position to inflict physical harm. Each individual member of an MSP are vital parts of the organization’s defense against social engineering attacks. Strengthening each one of them with education and training is an MSP’s best chance of avoiding becoming another victim of social engineering. Photo: Looking for Affordable Managed Services Provider in Carson City? Learn More and Get a Fast and Easy Quote Now. Visit Carson City Managed Services Here: Source: Smarter MSP Read more here: https://managedservices.home.blog/2019/05/29/building-a-defense-from-social-engineering-attacks-managed-services-tips/ New Tip: Survey finds large appetite for SD-WAN change among IT executives Software-defined wide area networking (SD-WANs) remains one of the fastest growing sectors in IT. In fact, a new survey of 400 IT executives published by Cato Networks, an SD-WAN service delivered via the cloud, indicates that 44 percent of respondents are evaluating their SD-WAN options. Better still, 75 percent of IT executives evaluating SD-WANs were leaning towards relying on service providers rather than trying to acquire and manage SD-WAN gear on their own. Where things get a little more nuanced is that many IT executives still view SD-WAN to be the province of traditional telecommunications providers. As the providers of wide area networks, there’s no doubt that telecommunication providers have the inside track in discovering SD-WAN service opportunities. However, the Cato Networks survey also make it clear there is no love lost between the IT executives surveyed and telecommunications carriers. For example, 71 percent of IT executives said carriers take too long to resolve problems, while nearly half (48 percent) complained about lack of visibility. A full 80 percent of respondents preferred self-service or co-management models for accessing SD-WAN services. #SDWAN as a service is an investment, but it also represents a large opportunity for MSPs looking to grow their client base.
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Of course, building a managed SD-WAN service represents a major investment on the part of an MSP. Instead of having to make a massive investment in capital, an MSP could leverage the Cato Networks cloud service to access a console, through which they can co-manage an SD-WAN environment in collaboration with their end customer. MSPs can overtake carriers in providing SD-WAN servicesBased on the survey results there may be a strong case for MSPs to deliver such a SD-WAN service. On average, respondents gave carriers a score of 54 out of a possible 100 when asked if they thought network service pricing was fair. Carriers also scored lower (3.33 out of 5) than cloud application providers (3.70) and cloud data center providers (3.71). Worse yet for carriers, just under half of respondents (46 percent) reported that moves, adds, and changes require at least one business day (8 hours or more). Nearly three quarters said new locations required three or more business weeks to set up a SD-WAN service. Only two percent of respondents indicated that carriers exceeded their expectations in delivering new features and enhancements. MSPs often rely on carriers for the basic networking connections they need to deliver their services. Many of those same MSPs also feel like carriers have unfairly leveraged those connections to acquire networking equipment using volume discounts at a much lower cost. Yet, in the age of the cloud, that playing field may be leveling as alternative providers of SD-WAN services start to emerge. It’ll be up to each MSP to determine how much they want to rely on such services versus deploying their own networking and cybersecurity gear. One thing is clear — the days when carriers seemed too large to challenge may finally be ending. Photo: Pavel Ignatov / Shutterstock Looking for Affordable Managed Services Provider in Carson City? Learn More and Get a Fast and Easy Quote Now. Visit Carson City Managed Services Here: Source: Smarter MSP Read more here: https://managedservices.home.blog/2019/05/28/survey-finds-large-appetite-for-sd-wan-change-among-it-executives-managed-services-tips/ New Tip: Growth Hacking for MSPs: Resource Utilization A trend that I’ve noticed recently in managed services is that companies are struggling to earn a consistent profit, and/or have cash flow issues, often times appear to be over-staffed on their front-line. There are times when your team is completely buried with tickets and the work seems to just pile up. This pressure often prompts Decision Makers to go out and hire help, showing action and leadership in what appears to be a time of need. Unfortunately, if this was more of a “surge” and less a result of intentional growth, the volume is likely to level out again, leaving the company overstaffed, if they do not re-adjust to the current volume. An example of this would be if Walmart hired thousands of workers for Black Friday, and then kept them on the payroll for months thereafter, even after sales dropped and foot traffic slowed. The best way to prevent and manage this occurrence is through tracking and analyzing your resource utilization. Tracking resource time and activityTime and activity tracking of your service employees can lead to incredible insights into your business, that can be analyzed and optimized to cut wasteful resources and drive more profit. The challenge with this type of system is getting your people to “buy in” and understand that the intent is less about micro-management and more about deep insights into the company. Time and activity tracking of your service employees can lead to incredible insights into your #MSP business, that can be analyzed and optimized to cut wasteful resources and drive more profit.
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When your employees are accustomed to working freely without clock management, the shift toward documenting time spent will yield significant pushback. Some may argue that the quality of the result (resolving service tickets for example) is far more important than the time it takes to get there, and they are correct. However, the consistency of quality results is incredibly important. The best way to achieve this is through collecting data, spotting trends that produce bad results, and making changes to offset them. Calculating resource utilizationWhile the formula for calculating resource utilization is simple (time worked / time available = utilization %), there are numerous asterisks that would warrant modifications to suit your business and policies. If your company pays your employee a salary, then you would probably use 40 hours per week as the time available. Adjusting this a few hours to account for scheduled internal meetings and breaks would give you a more accurate reading. If this were the case, a member of your Help Desk that logged 22 hours on service tickets out of an available 35 hours would have resource utilization of roughly 63 percent. Calculating each employee will allow for you understand who your most productive employees generally are and what the averages are for your company. You can also identify employees that are under-utilized and shift responsibility from over-utilized employees creating a wider balance of responsibility. Rewarding high resource utilizationThe best way to get your team to buy into time-tracking is through an incentive plan. This type of company-wide program is the perfect way to give them the recognition they deserve. The amount in which you reward your employees is based entirely around what you can afford, since all MSPs charge different rates for their service. Structuring the bonus should simple and easily tracked. I would recommend starting with a small bonus for employees over a 50 percent utilization and create larger bonus thresholds for 60 percent, 70 percent, 80 percent, etc. You want to make sure that these plans are achievable and that the reward suits the accomplishment. In the era of “work-life balance,” you do not want to create an environment where everyone is intentionally overworked just to earn a decent wage. Benefits of time tracking cultureOnce employees begin to see the benefits of tracking their work and are rewarded for doing so, they will willingly commit to this type of culture. The more they embrace it, the more data you can gather and use to shuffle resources and responsibility around to create a team that is more efficient and happier. You will also know exactly when to hire and when to fire based on actual data, not when your team is pressuring you to do so. Tracking #ResourceUtilization allows MSPs to know exactly when to hire and when to fire based on actual data, not when their team is pressuring them to do so.
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You may also find that when your time-tracking behavior changes, your Time & Materials billing will go up significantly. You will also have a better idea of how profitable your managed services contracts actually are by tracking time worked on the account and calculating what hourly rate (total billed / hours worked). This now allows you to better renegotiate contracts as they come up for renewal, since you can prove exactly how much service is being provided. For more ways to grow your managed IT business through integration and analytics, follow the Growth Hacking for MSPs series right here on Smarter MSP. More in-depth coverage and actionable examples of the topic can also be found on MSP Growth Hacks. Photo: tomertu / Shutterstock Looking for Affordable Managed Services Provider in Carson City? Learn More and Get a Fast and Easy Quote Now. Visit Carson City Managed Services Here: Source: Smarter MSP Read more here: https://managedservices.home.blog/2019/05/27/growth-hacking-for-msps-resource-utilization-managed-services-tips/ Ask an MSP Expert: What are some different pricing strategies to consider? Managed Services Tips5/27/2019 New Tip: Ask an MSP Expert: What are some different pricing strategies to consider? Q: There seems to be a lot of different opinions on how we should price our offering. How can we determine what the right pricing strategy is for our MSP business? Setting a pricing strategy is a critical process for any business, especially in the IT services industry. The wrong pricing strategy can not only scare away prospective clients, but it can also hurt the business from within. On the other hand, the right pricing strategy can set the business off on the right foot with each new client, at a pace that allows them to move far past the competition. To get a better understanding of the importance of pricing strategies and implementing them for MSP businesses, we reached out to Gary Pica, founder and president of TruMethods. Gary shared his observations on common MSP mishaps, as well as his best practices for MSPs who are looking to adopt a new strategy. The importance of setting the right pricing strategyA pricing strategy is important because it helps set the tone for your success. If an MSP does not understand how price relates to the services they deliver, they will suffer with lower product margins. This will lower the quality of the MSP’s service and its business overall — and they might not even know why. The MSPs with the most effective pricing strategies look at their service delivery areas, which includes their labor and tools, and convert them into an average cost per seat. If they know what their average cost per seat is, then they can set a target margin. Another aspect of setting a pricing strategy is accounting for each cost associated with the account. Support people, VCIOs, and account managers are all examples of people that push tools and services that can increase the cost of managing their infrastructure. Unless you have the framework to understand what your average cost per seat is, it’s almost impossible to determine if your price is right. In that case, you’re basically guessing. Setting the wrong pricing strategy can incur many risks for an MSP business. The main area that suffers for MSPs is their margins, which then leads to stagnation for the MSP business overall. As you continue to add customers, you eventually hit a ceiling on your recurring revenue level that you can’t push past because of their poor margins and pricing strategy. When you are creating your pricing strategy, keep in mind which industries you sell to. Industries with higher security requirements should have higher price per seat, because of their specific needs and the level of support required. Therefore, MSPs must adjust their pricing strategy for these industries to protect their margins. When creating your #PricingStrategy, keep in mind which industries your #MSP sells to. Industries with higher security requirements should have higher price per seat, due to the level of support required.
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How to determine the right pricing strategyFirst, be sure to know what your options are. Some of the popular strategies that I see MSPs use include per user pricing, per device pricing, market-based pricing (following the lead of other MSPs to set their price). I recommend a cost-based pricing strategy when creating their “pricing calculator” to set their margins. MSPs should keep their calculator as simple as possible, to provide a simple framework to pack value into their pricing strategy. Divide your monthly fee by the number of seats and see where that number is in relation to your target. If you don’t hit that target, it lowers your margins. As your “first step” look at your MSP’s functions, which includes the people in each role (support, centralized services like backup and RMM tools, technology alignment, and vCIO. Calculate how many seats each person in these roles can manage and use that to find your average cost per seat per labor, then do the same thing for tools. I call this “micro-Pica-nomics,” while “macro-Pica-nomics” does the same, but also considers how much revenue your functions can touch. Once you accomplish you set up with this framework, the rest is just math that can be completed with a calculator. Eliminate any inefficiencies in your MSP, to make sure that your price matches up with the value that your MSP provides in the marketplace. Use internal evaluationsThere are several areas within your own MSP that you should evaluate to help determine the correct pricing strategy. Most MSPs have too many tickets based on their number of users, which can really hamper the quality of work your support team is able to offer. Examine the ratio of support resources available to the number of seats a person can manage. You can calculate the ratio by dividing the number of seats the MSP has by the number of tickets and alerts. MSPs should aim to have a cost per support seat of $10 or less for their support function, which means that one support resource needs to manage about 500 seats. If that cost is higher, it leads to value and cost problems that will prevent you from adding the other valuable resources that allow you to charge more. Use price per seat and average cost per seat as metrics to help in setting a pricing strategy. Be careful about what you include and exclude from your pricing strategy. For example, I often warn MSPs about bundling Office 365 into the core offering because it does not offer enough value for the way it inflates the cost per seat. Most MSPs that I have spoken to don’t know their average cost per seat or even how to calculate it. Nearly the entire industry does not have a unit of measure, so they are relying on other data that could be misleading. When they run their gross margins at the end of the month and realize they are not where they need to be, it showcases this “data gap” that exists because they don’t have a framework in place to set their prices. Using these steps, you can construct the pricing strategy that best fits your MSP business. The right pricing strategy will give you a major competitive advantage over other MSPs that use less precise methods to set their pricing strategy. Photo: Austin Distel / Unsplash Looking for Affordable Managed Services Provider in Carson City? Learn More and Get a Fast and Easy Quote Now. Visit Carson City Managed Services Here: Source: Smarter MSP Read more here: https://managedservices.home.blog/2019/05/27/ask-an-msp-expert-what-are-some-different-pricing-strategies-to-consider-managed-services-tips/ |