Podcast: MSP Pricing Tips From Chris Wiser

Welcome to the ChannelE2E podcast. Our guest today is Chris Wiser, CEO of 7-Figure MSP, a coaching firm that empowers MSPs to scale their businesses. The conversation covers MSP pricing trends, target profit margins, how to fine-tune your service catalog, and common pricing mistakes that MSPs need to avoid.

Podcast: Listen Here

Chris Wiser, CEO, 7-Figure MSP
Guest: Chris Wiser, CEO, 7-Figure MSP

The conversation covers:

  • 0:00 - Introductions
  • 0:48 - Chris Wiser's journey as an MSP builder and owner, to exit and now to MSP coach.
  • 3:00 - The mindset: Do you have seven figures of annual recurring revenue?
  • 4:12 - MSP pricing trends and common mistakes.
  • 4:55 - Packaging your optimum services, and aligning them with customer mitigation risk mitigation.
  • 6:15 - Moving away from a "Good, Better, Best" pricing and packing mindset.
  • 7:20 - Escape commoditized pricing. Instead, offer premium pricing for risk mitigation (without taking on risk).
  • 9:07 - Is there a "secret sauce" pricing calculator for MSP pricing?
  • 10:02  - Figure out your cost plus an 80 percent margin. And a target for all-in pricing.
  • 11:30 - How the best MSPs hit the highest price points.
  • 12:15 - Aligning network assessments and data analysis to computing pricing and solve a specific customer pain point.
  • 14:10 - How to turn the "risk lightbulb" on to ensure customers understand the value of their data, and the need to protect it.
  • 17:15 - Famed investor Warren Buffett and MSPs: The one thing they have in common.
  • 18:20 - Avoiding the MSP wheel of death.
  • 18:50 - Bad MSPs swing at every pitch.
  • 20:45 - How MSPs evolve their service catalogs.
  • 22:00 - How MSPs now leverage outsourcing to drive up their margins.
  • 23:00 - Setting revenue goals, and then developing plans to reach those goals.
  • 24:51 - Reach out to 7-Figure MSP and the IT and MSP Business Owners Business Group on Facebook.
  • 25:33 - Conclusion.
Joe Panettieri

Joe Panettieri is co-founder & editorial director of MSSP Alert and ChannelE2E, the two leading news & analysis sites for managed service providers in the cybersecurity market.