Roundtable Tactics for Quick Revenue Growth (Rebroadcast, original air date 9/21/2022)
In this episode, our team talks about the tactics to accelerate revenue growth. With many MSPs and MSSPs focused on the holy grail of recurring revenue, there may be some low-hanging fruit to boost your top line and expand your profits. 2:04: Tim opens the discussion by talking about a trend where MSPs feel the need to diminish hardware revenue. He talks about tactics to work deal registration, discounts, and spiffs to dramatically grow your margin on NRC projects. 4:27: Robb talks about contract reviews and the mindset of not rocking the boat with MRR customers. If you are not looking at increasing rates for your services within your contracts you will ultimately be losing money (think inflation). Brian shares his thoughts about the deals that can haunt you if you don’t correct them. 9:15: Brian suggests never discounting, but adjusting the scope to the right size on underwater contracts. Robb and Tim share their tactic of reducing the inflationary clause in exchange for time commitment driving a win/win for both parties. 13:04: New customer acquisition strategies and ensuring you are market-pricing are critical. Leverage peer groups, trade shows, and market demographics to build pricing models. Robb also mentioned asking for contracts “to ensure apples-to-apples comparisons to get market pricing. They had an 80% success rate in looking at contracts. 16:04: We close by looking at how to goal yourself on customer acquisition. Robb hits the fact…you need to prospect, prospect and prospect.