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
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.
