Category: TruMethods Blog

Want to learn more about becoming a top managed service provider? Explore the TruMethods blog for insight into MSP training and IT solutions.

Stay Ahead in 2024: Top 4 TruMethods Cybersecurity Blog Posts to Read

Posted on | Author Gary Pica

As we enter 2024, cybersecurity continues to be a significant issue for MSPs and their customers. Navigating the ever-evolving landscape of IT threats is crucial in distinguishing yourself from competitors. Without a well-defined strategy, a solid security platform, and an adaptive mindset for the upcoming year, there’s a heightened risk of leaving your customers vulnerable to cybersecurity incidents.

Need help figuring out how to kick off the year effectively? Explore the four carefully curated blog posts from TruMethods below, each designed to transform your approach to cybersecurity.

These resources will provide strategies to better protect your customers in 2024.

Two Questions to Gauge Security Posture

In this blog, I provide a no-cost security assessment using only two key questions. The first is about your average seat price. The second focuses on whether your service delivery team includes at least one member dedicated exclusively to proactive tasks without engaging in billing for professional services or addressing support tickets. These two queries allow me to gauge your security readiness effectively. Interestingly, my assessment doesn’t delve into certifications, tools, or specific services — an intentional and strategic choice.

Embracing A Secure Future Starts With You

Daily interactions with MSPs give me a window into their customers’ hesitations about investing in security. Common remarks I encounter include, “My customers don’t understand the crucial need for security,” or, “My customers think they don’t have anything attractive to cybercriminals.” However, a compelling point to consider is that your customers hold something precious to these cyber criminals — money.

Making Security Pay

Service providers frequently face financial difficulties, even amidst business growth, due to the complexities in attaining and sustaining profitability. To counter this, many MSPs have succeeded by incorporating security services into their portfolio. Nonetheless, the varying security requirements across different customer accounts, some more intricate than others, can add to the complexity. This variability often impacts the ability to effectively manage and maintain profitability.

Right of Boom: Key Takeaways for MSPs

In February, I had the opportunity to participate in the Right of Boom conference, an event focused on cybersecurity for MSPs. A significant number of attendees came from the Weekly CyberCall community. My involvement included delivering closing remarks and moderating a panel discussion on packaging, pricing, and security go-to-market strategies. Reflecting on my experience, I share some insights in this blog. 

The Power of Self-Accountability: 6 Can’t-Miss Blog Posts

Posted on | Author Gary Pica

Owning and operating an MSP will be more challenging in the new year. Still, I think that’s good for many of our TruPeer members practicing self-accountability — and here’s why.

Self-accountability is crucial to the success of MSPs, especially in generating new monthly recurring revenue (MRR) at optimal pricing. Adopting this approach helps you understand your customer base, seize the right opportunities, and streamline processes for your team and customers. Following these critical aspects gives you a significant competitive advantage over your competitors.

Consider exploring these six TruMethods blog posts to fully embrace self-accountability as an MSP owner in 2024.

Decisions by MSP Leaders: Balancing Input and Action

I reviewed the results of the Schnizzfest 2023 event surveys with my team, and I’m pleased to share that our members rated the event highly in all aspects. During the review, my team inquired about my focus when evaluating feedback. My response, which might surprise them and you, was that my primary goal isn’t to achieve the highest ratings.

What Does Your Customer Base Say About Your MSP?

In the MSP industry, the phrase “operational maturity” is often used to describe the level of sophistication in an MSP’s operations. However, my approach to evaluating an MSP begins with examining its “customer base maturity” rather than just focusing on operational aspects.

A Minimum Will Get You the Maximum

A key indicator of success for an MSP is the average MRR. This metric influences various aspects of the business, including scalability, profitability, sales strategy, financial calculations, and customer acquisition costs (CAC). It also plays a vital role in determining your business’s overall value. Therefore, a straightforward action that can positively affect your average MRR is establishing a minimum MRR threshold.

An Exercise in Opportunity Cost

The introduction of new technology frequently leads us to make comparisons with existing or past innovations. This is evident with the launch of Apple’s Vision Pro, which has sparked comparisons to Google Glass, a product that debuted a decade ago. While many focus on the technical aspects and distinctions between the two devices, an intriguing dialogue about the concept of opportunity cost has emerged, capturing my interest.

Stuck Mid-Air: The Importance of Processes in Business

Earlier in the year, I hired a team to paint the trim of my house, which is situated at a considerable height, necessitating using a bucket lift for access. Initially, the process began without any issues, but as time progressed, unexpected complications emerged.

Overlooking Productivity: A Common Oversight in Business Leadership

The measure of personal productivity plays a crucial role in determining an individual’s or an organization’s success. The efficiency of your productivity, rather than the intensity of your efforts, significantly influence outcomes. However, many business leaders often undervalue this aspect and seldom address it in interviews or incorporate it into their training programs or performance evaluation criteria.

Schnizzfest 2024: The Must-Attend Event for MSPs

Posted on | Author Gary Pica

Hey-yooooooo! Are you ready for Schnizzfest 2024?

If you have yet to experience Schnizzfest, now is the perfect time to make that change! Our annual event for managed service providers (MSPs) offers tailored, specialized content to help them enhance customer service and equip them with growth-driven sales and marketing strategies.

Why should you consider adding Schnizzfest to your calendar for next year?

Customize Your Schnizzfest 2024 Experience to Maximize Value

Whether you’re a CEO, sales manager, or engineer, we designed the sessions specifically for you. You can even personalize your schedule, ensuring you get the most value from the discussions you attend, whether on the main stage or during the breakout sessions. Schnizzfest’s content will leave you feeling confident in enhancing your customer service and strengthening your sales and marketing strategies.

More Than 10 Hours of Networking: Connect with Members

Schnizzfest 2024 offers more than ten hours of dedicated networking time with fellow TruMethods members, allowing you to connect with like-minded professionals and learn from one another’s experiences. I suggest taking this time to discuss common challenges, industry trends, and best practices. By the end of the event, you’ll walk away feeling more connected and empowered within the TruMethods community!

Unlocking Potential with Motivational Speaker Kevin Brown

We’re thrilled to host motivational speaker and bestselling author Kevin Brown at Schnizzfest this year! He’ll take the main stage to expand your vision and help you develop your potential as a business leader and a person. His keynote will be a source of inspiration that will drive you towards achieving your goals. Whether attending Schnizzfest as a team or as an individual, Kevin’s words will help you improve your results.

Tackling Challenges and Gaining Insight

Say goodbye to organizational challenges with sessions on business success principles, building your technology success practice, service delivery, and sales. Schnizzfest 2024 will help you address common challenges and gain new insights. Whether you’re a seasoned MSP or new to the industry, there’s something for everyone!

Schnizzfest 2024: Where Work Meets Play

What’s a Schnizzfest without a bit of fun? The event will include drinks, fantastic entertainment, and more! You’ll have plenty of opportunities to let loose and celebrate with your peers.

If you’re ready to engage in insightful sessions, make new connections, and enjoy the fun as the new year starts, join us at Schnizzfest 2024!

Transforming Thoughts: Top 6 Mindset-Altering MSP Blog Posts for a Successful 2024

Posted on | Author Gary Pica

While many things in life are out of your control, your mindset isn’t one of them. You and only you determine how to respond when “life happens.” You typically have two options: Sit and sulk or adapt and overcome. The choice is yours.

But what’s often not so simple is changing your mindset. This takes time, discipline, and a lot of falling and getting back up. With the right strategy, you can shift your perspective to lead a more fulfilling life.

Browse these six handpicked blog posts from TruMethods, each crafted to reshape your mindset and guide you toward success in 2024.

Too Many Anchors Are Holding You Back

The concept that we are influenced by the five people closest to us suggests the importance of choosing positive associations while being cautious of well-intentioned individuals who may unintentionally limit our growth. Awareness and self-protection of our attitude and potential are crucial. Sometimes, distancing ourselves from those who hold us back is necessary for achieving our true potential.

The Dangers of Perfectionism: When Striving for Perfection Becomes the Enemy of Good

Perfectionism, while tempting, is an unrealistic ideal that can lead to frustration and impede progress. Embracing imperfection fosters adaptability and growth. It’s better to start with a basic framework and seek real-world feedback rather than over-plan and risk paralysis by analysis. In the fast-evolving MSP business, simplicity is vital. Simplifying processes, standardizing workflows, and seeking straightforward solutions can enhance productivity and success. Avoiding perfectionism and prioritizing simplicity allows for clearer communication and more effective teamwork.

The Power of Changing Beliefs: How It Makes You Wiser

Reflecting on a financial decision unveils deep emotional ties to long-held beliefs about money. This realization prompts reevaluating perspectives on life aspects like career and relationships. The process emphasizes the importance of self-awareness and personal growth, highlighting journaling as a tool for gaining insight and fostering wisdom.

Unlock Your Leadership Potential With Self-Awareness

Self-awareness, encompassing understanding personal emotions, thoughts, and social perceptions, is rare, with studies suggesting only 10-15 percent of people truly possess it. Overestimating abilities often lead to a false sense of self-awareness. Developing true self-awareness hinges on introspective reflection, identifying and accepting strengths and weaknesses, and gaining insight into what triggers certain emotions. Journaling about emotions and reading widely on human behavior and self-improvement are critical practices recommended for developing this quality.

Seeing the Cathedral, Not the Bricks: The Power of Perspective in Business

How one views life and business plays a significant role in determining success. This concept is exemplified through a tale of two bricklayers, where one perceives his job as mere bricklaying, while the other sees himself as building a cathedral, showcasing the impact of perspective on work. Success is primarily driven by attitude, self-image, and self-discipline rather than just knowledge. It’s essential to evaluate oneself regularly, instill a positive mindset within oneself and among team members, and strive toward a meaningful purpose. Setting personal and business goals through introspection is essential. The key takeaway is that positivity, a vital element for success, starts with the individual and has the power to spread.

Why Every Business Owner Needs a Strong Foundation: Avoiding the Groove of a Lousy Swing

Champions stand out by consistently doing what others can’t or won’t, making it seem effortless. Mastering in any field, including business, requires dedication to the proper practices. It’s not just about the hours spent but how they are utilized. In business, mastering fundamentals like command, planning, execution, and accountability is essential for reaching one’s full potential. Success and quality of life are not mutually exclusive; effective leadership can enable team members to realize their untapped potential. For instance, TruMethods members are encouraged to consistently engage in crucial activities like attending meetings, understanding metrics, preparing quality business updates, and participating in accountability calls. This approach, focusing on core practices, can be applied across various roles and tasks to build a foundation for success.

Maximizing Return on Luck: Lessons from New Balance and Coco Gauff

Posted on | Author Gary Pica

In the book “Great by Choice,” Jim Collins introduces the concept of return on luck (ROL). After comparing good and bad luck events at numerous companies, he found that, on average, the high-performing companies, or as he called them, the 10X companies, had the same number of luck events as their counterparts. What set them apart? Their superior returns on luck.

Consider this recent example. New Balance signed tennis star Coco Gauff when she was 15, around the time she turned pro. For a while, the investment wasn’t paying huge returns for the company — until she won the US Open. Now, sponsoring someone who goes on to win the US Open is a great luck event for New Balance, but their response was noteworthy.

The company released a t-shirt in stark white with bold black text. Initially reading “Call me Coco,” the word “Coco” was strikethrough and substituted with “Champion,” rendering it “Call me Champion.” New Balance had already conceived this design and even had a few in circulation for prior tournaments. Yet, they significantly increased their inventory for the US Open, staking millions in the process. Imagine the atmosphere in that decision-making room.

Following her victory, they swiftly distributed these shirts to her family in the locker room, ensuring they were worn, not merely draped over shoulders. During her post-victory speech, as she mentioned her father, the camera spotlighted him donning the shirt, surrounded by similarly attired relatives. This led to a staggering 500 percent surge in traffic for New Balance, resulting in massive sales of both the shirts and their sneakers. This was an exemplary execution of maximizing return on luck.

As MSPs, we’re in the middle of a massive good luck event. We’re navigating a historically booming market. The luck event is uniform for all of us. The question remains: Who will achieve the highest return on luck?

The Power of Consolidated Reporting for MSPs: IT Complete Unified Executive Summary With myITprocess

Posted on | Author Welcome Newscred

In the fast-paced world of managed services, providing clients with reliable and efficient IT solutions is only part of the equation. Equally important is your ability to clearly demonstrate the value you provide and deliver your services in a way that your clients can easily understand. Enter the world of consolidated reporting, a game-changer for MSPs. In this blog post, we will explore how consolidated reporting can transform your client presentations, save you time and ultimately, drive client satisfaction and business growth.

Holistic reporting for streamlined client presentations

For MSPs, collecting, organizing and analyzing data from various sources can be a daunting task. From network performance to security incidents and ticket resolution times, the data landscape is complex. The challenge lies not only in gathering this data but also in presenting it in a way that resonates with clients who may not be well-versed in technical jargon.

Consolidated reporting simplifies this process. It allows you to integrate executive summary dashboards from multiple tools into one, eliminating the need to manually copy and paste data from different sources. This streamlined approach ensures that your clients receive a consistent and comprehensible view of their IT environment.

Automating the consolidation of reports not only saves time but also frees up resources. This newfound efficiency allows you to focus on critical tasks such as proactive monitoring and problem-solving, ultimately enhancing the quality of your services.

Moreover, a consolidated reporting system provides a holistic view of your client’s IT environment. It enables you to uncover correlations and insights that might have gone unnoticed when data is scattered across multiple tools. As your IT needs evolve and grow, this system can scale to accommodate additional tools and data sources, ensuring your reporting remains effective and relevant.

Data from your core tools directly in myITprocess

Gone are the days of spending hours summarizing key metrics for client presentations. With consolidated reporting, you can achieve this with a few clicks, creating a unified and professional look and feel. This consolidated reporting system is intuitive and easy with myITprocess.

MyITprocess currently integrates with several solutions for consolidating executive summaries, such as Network Detective Pro, Datto RMM and Autotask. We are continually expanding our IT Complete solutions, so expect more integrations to be added in the future.

Our new integration with Network Detective Pro simplifies the data gathering process by allowing you to select risk metrics and data breach sources directly within myITprocess (MITP). This integration eliminates the need to search for these details manually. It enables you to communicate risk information to your clients, including software, hardware and password-related risks, as well as data breach details like the source, potential liability and sensitive data count.

Additionally, myITprocess allows you to effortlessly add reports from your everyday tools, such as PSA and RMM. For instance, you can include metrics like completed ticket counts, SLA response times and ticket types from Autotask. From Datto RMM, you can include services offered and their respective scores, complete with clear definitions.

Help clients make informed buying decisions with comprehensive reporting

Unified reporting isn’t just about streamlining your presentation process; it’s about helping clients make informed decisions. As an IT expert, your clients rely on you not only for top-quality services but also for ensuring business continuity, compliance and user satisfaction.

Explaining the complexities of network performance, security, compliance and help desk support metrics to non-technical clients can be challenging. Consolidated reporting simplifies this for both you and your clients, making it easier for clients to embrace new IT projects and initiatives.

Optimized services lead to better IT operations, higher client satisfaction and increased loyalty. Happy clients are more likely to renew contracts and refer new business. In essence, unified reporting can be a game-changer for your bottom line and the longevity of your business.

Visit our Knowledge Base for more details and step-by-step instructions.

Interested in learning more? Request a demo.

Two Questions to Gauge Security Posture

Posted on | Author Gary Pica

I’ll conduct a free security audit for you by asking just two questions.

One, what is your average seat price? Two, do you have at least one person in your service delivery organization who’s 100 percent proactive? In other words, they don’t bill professional services, and they don’t do any support tickets. They’re purely proactive.

Based on your answers to these two questions, I have a pretty good idea of your security posture. Did you notice that I didn’t ask about certifications, tools, or services? There’s a reason for that.

Security is about process and discipline. If you don’t charge enough and don’t have dedicated roles, process, and accountability, your customers are not as secure as they should be. They would be more secure if they had a truly proactive MSP at the right price.

Once you understand this, you will not only mature your business and your security posture, but you’ll be able to right-size your current agreements and win new customers at the right price. You will have learned how to weaponize your competitor’s low price. When you achieve this, you’re ready to fulfill your true potential. This logic applies as you speak to every new potential client.

I recently listened to a podcast where the MSP featured performs a full security audit they charge for as the first step of their sales process. If this is your process, and you’re having unbelievable success, stick to it. But I think you can ask eight to ten questions of a decision maker and have a great idea of their IT and security posture — at least enough to talk through pain, money, and decision. In some cases, you may end up doing some type of audit, but they’ll be fully qualified first, and most deals, in my experience, get closed without having to do that.

Here are the two takeaways. First, your business and security posture can be measured greatly by the two questions I asked. Next, you can use the same logic with every prospect you talk with to close more deals at a higher price.

The Perfect Storm for Private Investors: Why the MSP Market Is Now Prime Real Estate

Posted on | Author Gary Pica

Over the last few years, many MSPs and industry pundits have claimed that our industry is undergoing a rollup. While I’ve consistently argued that the transaction volume has been minimal in relation to the market size — with data supporting my stance — I now believe we are genuinely entering the initial phase of a comprehensive industry consolidation.

So, what’s a rollup?

It’s consolidation. This is when the market has all the attributes to make it attractive to private investors, meaning private equity companies are willing to invest. These attributes include a rapidly expanding total addressable market (TAM), recurring revenue, solid margins, low churn and opportunities for synergy.

The MSP market checks all those boxes for the first time. I estimate that there will be more than 100 private equity or family offices looking to invest in or are already investing in the space. I sit on the board of two platforms for one private equity investor. After three years of involvement, this is not as easy as some investors think it is, and many of these companies will not achieve their desired goals for return on investment.

While it’s difficult to consolidate, we see several successful examples of that scale. By scale, I mean 100 to 300 million in revenue. So, why should you care?

Well, every MSP has the opportunity to create enterprise value at a rate that’s never been possible, and you don’t have to sell your MSP to private equity to unlock some or all of your value. The same factors creating consolidation make growing your business easier. We all benefit from the same market conditions.

I had been saying that this was the gold rush for several years.  However, looking back, I realized that was just the gold walk. Now is the gold rush. (If you don’t feel that way, you have some work to do to get yourself there.)

Be aware that your competition is changing and will continue to change. We are up against professional sales and marketing teams with deep technical capabilities. These big companies used to be big and dumb, but not anymore. So, to compete against them requires deep relationships with our current customers, and more focus on go-to-market.

After decades in this business, I’m thankful I can be here to watch this unfold and see the positive impact the current market will have on so many MSPs.

Thriving in the New Normal: Understanding the Challenges of Attracting and Retaining Talent

Posted on | Author Gary Pica

We are in a new normal regarding the issues surrounding attracting and retaining talent, and many factors contribute to this.

There’s near-zero tech unemployment, the competition for talent is no longer localized and your requirements have changed. Additionally, you’ve doubled the number of tools in your stack in recent years, your customer’s technology has changed and your target market has also crept up. All these things require more experience and knowledge during a time when it’s harder to come by. The outcome is that tech resources need to know more.

So how do we adapt? Here are just a few things to consider.

Hiring and training must be done through a well-thought-out approach, which requires a well-defined process in place. Culture needs to be a real thing that you nurture and get regular feedback on. You also need to be able to get results from less experienced people by leveling them up. This means having a well-defined and well-documented process, providing excellent training, and leveraging automation and artificial intelligence (AI). Each role must be explicitly defined with clear accountability. Also, consider some other sources and potentially offshoring resources.

Ultimately, our businesses are more complex, and this calls for you to become a more mature business continually. You need to set priorities and have a process to stay accountable at all levels of the organization. Human capital is just one example of the new normal for MSPs. 

The Most Wonderful Time of the Year: Selling Season

Posted on | Author Gary Pica

Do you know what time of the year it is? I’ll give you a hint. Many would say it’s the most wonderful time of the year! No, I’m not talking about the Christmas season (although that’s right around the corner, too). Everybody from all walks of life celebrates the season I’m talking about — selling season. And this selling season will be a big one for all of us! I’ll go even further and predict this will be the biggest selling season of all time based on market trends.

For our new folks, selling season is the timeframe between the beginning of September and the end of the year when conditions are optimal for generating more monthly recurring revenue (MRR). This is the time of year when decision-makers are planning for the rest of 2023 and beginning to think about 2024. They’re evaluating their businesses and making decisions — and we need to be part of that process.

It is your job to achieve sales goals every quarter, but during the selling season, you hit the gas. There’s something about the psychology of this time of year as business leaders turn their attention to the end of the year. I have seen the impact of selling season over several decades. Every SMB has a new business plan based on the changing economy and all the other dynamics, which means they’re more open to talking and listening. Use this opportunity to get in front of them!

You have all the tools you need. Our message of technology success resonates even more with all the changes prospects see. You also have great wedges with security and collaboration. There’s no reason not to take advantage of the moment. It is “go time,” and that means you kick things into overdrive. If you already have a strategy, now’s the time to accelerate. If you’re still without a plan, this is the moment to formulate one.

New customers at the right price are the lifeblood of every profitable and thriving MSP. When I owned my MSP, I had a self-instruction card that I read every day: “Every day, I stay focused on finding new customers. I don’t let busy work get in my way. Success is too important.”

What are you still doing here? The selling season is upon us. Get out there and sell!