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Live Blog: LabTech Automation Nation Keynote | Managed Services content from MSPmentor Connect With Us TwitterFacebookYouTubeLinkedInRSS SubscribeAdvertiseContact Skip to Navigation Skip to Content MSPmentor Search: Register Log In Username or e-mail: * Password: * Remember meForgot Your Password?close AboutMission and StaffGuest BloggersAsk a MentorOur Sponsors 2013AdvertiseInfoCentersBackup and Disaster RecoveryPrivate and Public Cloud InfoCenterToolsMobile Device ManagementRemote Monitoring & Management SoftwareProfessional Services Automation (PSA)Help Desk and NOC ServicesOn PremiseCloud ComputingYour BusinessFinanceHRMarketingSalesMSP Mergers and AcquisitionsConnectionsNewslettersFacebookTwitterNews VideosSponsored VideosResourcesOur WebcastsOur Sponsors 2013MSP Guides and Managed Services Case StudiesResource CenterResearchTop 100 Cloud Services ProvidersTop 100 Channel Partner ConferencesMSPmentor 100 (Companies)MSPmentor 250 (People)MSP FAQ Advertisement Home > Managed Services > Live Blog: 5 Keys to MSP Success from TruMethods, LabTech Live Blog: 5 Keys to MSP Success from TruMethods, LabTech Jun. 5, 2013 Joe Panettieri | MSPmentor EMAILTweet Comments 0 LabTech Automation Nation continues with TruMethods CEO Gary Pica sharing 5 keys to MSP success, and Intel (INTC) educating MSPs about mobility and remote management.
TruMethods CEO Gary Pica shares 5 tips for MSP success during LabTech Automation Nation 2013 conference.
Advertisement LabTech Automation Nation has attracted roughly 350 managed services providers (MSPs) in Orlando, Fla. TruMethods CEO Gary Pica is describing five keys to MSP (managed services provider) success. Then, Intel's (INTC) Scott Schafer tackled the latest mobile, ultrabook and vPro trends for MSPs. Here's a minute-by-minute live blog keynote recap.
Recap: TruMethods CEO Gary Pica Pica is about to share his five steps to MSP success. A key day in his life -- December 12, 1996: Pica decides to quit his job and invest in/build an IT services company. At first, Pica worked 12 hours a day, seven days per week. But the company was losing money and having trouble paying staff. But he went on to build an MSP that managed 7,000 endpoints and got acquired by mindSHIFT (now owned by Best Buy). Best in class MSPs add some MRR (monthly recurring revenue) per month; drive $100 to $110 per seat per month fees; and generate 14% to 16% net profits. World class MSPs, by contrast, add new MRR at the right price EVERY month, charge $120 to $160 per seat, with 25% to 35% net profits. Pica's 5 Secrets to MSP Success/5 Characteristics of World Class MSPs Business Planning Process: Transform from a brick layer and build cathedrals. Start with a shared vision for the future of the company. Have clear direction for the company and employees. Provide a sense of purpose and build culture. For your processes, focus on vision (10 years), target (3 years), plan (1 year) and action (1 quarter). Know What You Sell: Has what clients want to buy changed over the past five years? Pica says no. Everyone needs three things from technology -- plumbing, support and strategy. Focus on the end result; make sure you have the right people and processes; utilize technology (don't sell it); limit choices and options; and bundle services. If you don't know what you sell -- your support offering -- then change. Become Sales Focused: This has to be a company philosophy. You can't be world-class if you're not bringing in new customers at a predictable rate. Know your math (how much MRR you want, average deal size, close ratio, etc.). You need to have a process to generate and manage leads. Become accountable by having regular sales meetings. And have dedicated resources. Be realistic about your starting point on sales and marketing. Focus on warm lead sources (referrals) if your marketing list is weak. Be Process Driven: LabTech CEO Matt Nachtrab said yesterday that great MSPs aren't born, they are engineered. Similarly, Pica believes you can focus on 5 delivery areas: Support, Centralized Services, Proactive Network Administration, Technology Consulting and Non-Recurring Service. For LabTech MSPs, Pica recommended that you review tickets, alerts and project plans at least once per month; build R&D alliances with peer MSPs that want to drive automation with you -- do a call with them monthly to share best practices; leverage LabTech's training resources. Gain Command: Over your business, delivery areas and roles in your business. Until you have command you can't put a plan in place to get to your target destination. Know how to read a financial statement. Know the numbers that ConnectWise and LabTech deliver, which ultimately show you the health of your business. Know the gauges. To truly succeed: Make sure everyone has clear roles and responsibilities; attach metrics to each role; track results. Recap: Intel's Scott Schafer, vPro Programs Manger Intel vPro is now six years old, and the LabTech relationship is now in its third year. Schafer stated tongue in cheek that the PC is dead. Again. In reality, the PC is the ultimate Darwinian Device, Schafer asserted, quoting Andy Grove. The true trend is all about mobile computing and end point devices blurring. Ultrabook convertable and detachable devices prove that. In the business world, he asserted, current adopters say their ultrabook touch devices will replace tablets. There are 200 million business PCs running that are more than 4 years old, and 30 percent of SMBs are still running Windows XP. Those realities spell opportunity for MSPs. He defined vPro as a great technology for hardware-assisted remote manageability. vPro typically allows MSPs to repair PC hardware issues 88 percent faster. Plus, vPro cuts on-premise PC visits for repair by about 50 percent. Check back for continued updates.
PrintreprintsFavorite EMAILTweet Discuss this Article 0 Post new comment Name: Sign In or register to use your MSPmentor ID Email: (optional) Your comment: * Related ArticlesLabTech Automation Nation: 10 MSP QuestionsLabTech, ThreatTrack Integrate Advanced Persistent Threat ProtectionManaged Services Reality Check At TruMethods Schnizzfest 2TruMethods Prepares to Rally MSPs in PhiladelphiaLabTech CEO Matt Nachtrab: Live Blog Upcoming Webcasts
June 13: Out-of-the-Box Sales Presentations to Turn Prospects into Customers
June 20: Maximizing MSP Gross Margins: Ask the All Stars
June 27: Harness the speed and security of the cloud!
Advertisement Advertisement Advertisement Advertisement Advertisement Recent CommentsMost Commented As remote monitoring and management is widely use for business's greater control and efficiencies with their... Posted 3 days 21 hours ago by RantzMartin You can find the study here: http://ctia.it/10Yb2Tc Posted 4 days 12 hours ago by jessicadavis Anonymous:Thanks for pointing this out. Are you with a vendor or an MSP?--CJ Posted 5 days 11 hours ago by christopherarlotta "And he mentioned marketing services for MSPs." That seems like a very important development in the... Posted 5 days 17 hours ago by secondstartech Sage Solutions Group (www.sagesol.com) Posted 6 days 12 hours ago by Jim Turner SolarWinds and N-able: 5 Reasons I'll Miss Gavin Garbutt 8 SolarWinds Acquires RMM Provider N-able for $120M 7 SolarWinds CEO Thompson: N-able Leads the Fragmented RMM Market 6 SolarWinds Buys N-able: 7 Big Questions for MSPs 4 ZixCorp Targets BYOD, Secures Business Email on iOS, Android Devices 3 Mobile Device Management Opportunity: IT Pros Lack BYOD Knowledge 2 LabTech Pursues N-able MSPs Amid SolarWinds Buyout 2 Advertisement Advertisement Guest Bloggers .pm-sidebar div#block-nodeblock-8981 li.views-row div.title img {float:right; position:relative; top:-5px; height:30px; border:0px;}.pm-sidebar div#block-nodeblock-8981 li.views-row {width: 137px; overflow-hidden; float:left; display:inline; padding-bottom:0px; clear:none;}.pm-sidebar div#block-nodeblock-8981 li.views-row-last {width:auto!important;}.pm-sidebar div#block-nodeblock-8981 a, .pm-sidebar div#block-nodeblock-8981 li.views-row div.title {font-size:13px;}.pm-sidebar div#block-nodeblock-8981 div.title {line-height:12px; margin:-1px 0px 5px 0px;} CA Technologies Celestix CharTec Citrix GoToAssist CloudBerry Lab Continuum Celestix Datto GFI Max IBM Idera Intronis LogMeIn ManageEngine McAfee OnApp PacketTrap StorageCraft Symantec Veeam Coming Soon Zenith Infotech Zyrion All sponsored contributions Advertisement Connect With Us TwitterFacebookYouTubeLinkedInRSS MSPmentor Authors
MSPmentor 250 Survey: Nominations Wanted by Joe Panettieri Published 10 hours 19 min 54 sec ago
in Managed Services
3 Ways to Avoid Summer BDR Sloth for MSPs by CJ Arlotta Published 14 hours 14 min 54 sec ago
in InfoCenter BDR
Business Leadership Lessons from Game of Thrones and the House of Stark by Jessica Davis Published 22 hours 46 min 54 sec ago
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The Var Guy Avnet to Buy Cloud Services Provider Seamless TechnologiesCrossing the Goal Line with MillennialsCisco Backing $150M Midmarket Push with $1B in Qualified Sales LeadsCisco Kicks Off Midmarket-Centric Site for Customers, PartnersReports: Google Set to Buy Mapping App Maker Waze for $1.3 Billionmore Visit thevarguy.com Talking Cloud IBM SoftLayer Acquisition Update: Cloud Meets MSPsSitecore Appoints Former Salesforce.com and Intel Executives to Leadership PositionsCosentry, Appshark Partner for Application Migration and HTML5 Mobile EnablementProgress Software Simplifies Building, Managing of Connected AppsHP Secures FedRAMP JAB Authorization for Managed Cloud Servicesmore
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Live Blog: LabTech Automation Nation Keynote | Managed Services content from MSPmentor Connect With Us TwitterFacebookYouTubeLinkedInRSS SubscribeAdvertiseContact Skip to Navigation Skip to Content MSPmentor Search: Register Log In Username or e-mail: * Password: * Remember meForgot Your Password?close AboutMission and StaffGuest BloggersAsk a MentorOur Sponsors 2013AdvertiseInfoCentersBackup and Disaster RecoveryPrivate and Public Cloud InfoCenterToolsMobile Device ManagementRemote Monitoring & Management SoftwareProfessional Services Automation (PSA)Help Desk and NOC ServicesOn PremiseCloud ComputingYour BusinessFinanceHRMarketingSalesMSP Mergers and AcquisitionsConnectionsNewslettersFacebookTwitterNews VideosSponsored VideosResourcesOur WebcastsOur Sponsors 2013MSP Guides and Managed Services Case StudiesResource CenterResearchTop 100 Cloud Services ProvidersTop 100 Channel Partner ConferencesMSPmentor 100 (Companies)MSPmentor 250 (People)MSP FAQ Advertisement Home > Managed Services > Live Blog: 5 Keys to MSP Success from TruMethods, LabTech Live Blog: 5 Keys to MSP Success from TruMethods, LabTech Jun. 5, 2013 Joe Panettieri | MSPmentor EMAILTweet Comments 0 LabTech Automation Nation continues with TruMethods CEO Gary Pica sharing 5 keys to MSP success, and Intel (INTC) educating MSPs about mobility and remote management.
TruMethods CEO Gary Pica shares 5 tips for MSP success during LabTech Automation Nation 2013 conference.Advertisement LabTech Automation Nation has attracted roughly 350 managed services providers (MSPs) in Orlando, Fla. TruMethods CEO Gary Pica is describing five keys to MSP (managed services provider) success. Then, Intel's (INTC) Scott Schafer tackled the latest mobile, ultrabook and vPro trends for MSPs. Here's a minute-by-minute live blog keynote recap.
Recap: TruMethods CEO Gary Pica Pica is about to share his five steps to MSP success. A key day in his life -- December 12, 1996: Pica decides to quit his job and invest in/build an IT services company. At first, Pica worked 12 hours a day, seven days per week. But the company was losing money and having trouble paying staff. But he went on to build an MSP that managed 7,000 endpoints and got acquired by mindSHIFT (now owned by Best Buy). Best in class MSPs add some MRR (monthly recurring revenue) per month; drive $100 to $110 per seat per month fees; and generate 14% to 16% net profits. World class MSPs, by contrast, add new MRR at the right price EVERY month, charge $120 to $160 per seat, with 25% to 35% net profits. Pica's 5 Secrets to MSP Success/5 Characteristics of World Class MSPs Business Planning Process: Transform from a brick layer and build cathedrals. Start with a shared vision for the future of the company. Have clear direction for the company and employees. Provide a sense of purpose and build culture. For your processes, focus on vision (10 years), target (3 years), plan (1 year) and action (1 quarter). Know What You Sell: Has what clients want to buy changed over the past five years? Pica says no. Everyone needs three things from technology -- plumbing, support and strategy. Focus on the end result; make sure you have the right people and processes; utilize technology (don't sell it); limit choices and options; and bundle services. If you don't know what you sell -- your support offering -- then change. Become Sales Focused: This has to be a company philosophy. You can't be world-class if you're not bringing in new customers at a predictable rate. Know your math (how much MRR you want, average deal size, close ratio, etc.). You need to have a process to generate and manage leads. Become accountable by having regular sales meetings. And have dedicated resources. Be realistic about your starting point on sales and marketing. Focus on warm lead sources (referrals) if your marketing list is weak. Be Process Driven: LabTech CEO Matt Nachtrab said yesterday that great MSPs aren't born, they are engineered. Similarly, Pica believes you can focus on 5 delivery areas: Support, Centralized Services, Proactive Network Administration, Technology Consulting and Non-Recurring Service. For LabTech MSPs, Pica recommended that you review tickets, alerts and project plans at least once per month; build R&D alliances with peer MSPs that want to drive automation with you -- do a call with them monthly to share best practices; leverage LabTech's training resources. Gain Command: Over your business, delivery areas and roles in your business. Until you have command you can't put a plan in place to get to your target destination. Know how to read a financial statement. Know the numbers that ConnectWise and LabTech deliver, which ultimately show you the health of your business. Know the gauges. To truly succeed: Make sure everyone has clear roles and responsibilities; attach metrics to each role; track results. Recap: Intel's Scott Schafer, vPro Programs Manger Intel vPro is now six years old, and the LabTech relationship is now in its third year. Schafer stated tongue in cheek that the PC is dead. Again. In reality, the PC is the ultimate Darwinian Device, Schafer asserted, quoting Andy Grove. The true trend is all about mobile computing and end point devices blurring. Ultrabook convertable and detachable devices prove that. In the business world, he asserted, current adopters say their ultrabook touch devices will replace tablets. There are 200 million business PCs running that are more than 4 years old, and 30 percent of SMBs are still running Windows XP. Those realities spell opportunity for MSPs. He defined vPro as a great technology for hardware-assisted remote manageability. vPro typically allows MSPs to repair PC hardware issues 88 percent faster. Plus, vPro cuts on-premise PC visits for repair by about 50 percent. Check back for continued updates.
PrintreprintsFavorite EMAILTweet Discuss this Article 0 Post new comment Name: Sign In or register to use your MSPmentor ID Email: (optional) Your comment: * Related ArticlesLabTech Automation Nation: 10 MSP QuestionsLabTech, ThreatTrack Integrate Advanced Persistent Threat ProtectionManaged Services Reality Check At TruMethods Schnizzfest 2TruMethods Prepares to Rally MSPs in PhiladelphiaLabTech CEO Matt Nachtrab: Live Blog Upcoming Webcasts
June 13: Out-of-the-Box Sales Presentations to Turn Prospects into CustomersJune 20: Maximizing MSP Gross Margins: Ask the All Stars
June 27: Harness the speed and security of the cloud!
Advertisement Advertisement Advertisement Advertisement Advertisement Recent CommentsMost Commented As remote monitoring and management is widely use for business's greater control and efficiencies with their... Posted 3 days 21 hours ago by RantzMartin You can find the study here: http://ctia.it/10Yb2Tc Posted 4 days 12 hours ago by jessicadavis Anonymous:Thanks for pointing this out. Are you with a vendor or an MSP?--CJ Posted 5 days 11 hours ago by christopherarlotta "And he mentioned marketing services for MSPs." That seems like a very important development in the... Posted 5 days 17 hours ago by secondstartech Sage Solutions Group (www.sagesol.com) Posted 6 days 12 hours ago by Jim Turner SolarWinds and N-able: 5 Reasons I'll Miss Gavin Garbutt 8 SolarWinds Acquires RMM Provider N-able for $120M 7 SolarWinds CEO Thompson: N-able Leads the Fragmented RMM Market 6 SolarWinds Buys N-able: 7 Big Questions for MSPs 4 ZixCorp Targets BYOD, Secures Business Email on iOS, Android Devices 3 Mobile Device Management Opportunity: IT Pros Lack BYOD Knowledge 2 LabTech Pursues N-able MSPs Amid SolarWinds Buyout 2 Advertisement Advertisement Guest Bloggers .pm-sidebar div#block-nodeblock-8981 li.views-row div.title img {float:right; position:relative; top:-5px; height:30px; border:0px;}.pm-sidebar div#block-nodeblock-8981 li.views-row {width: 137px; overflow-hidden; float:left; display:inline; padding-bottom:0px; clear:none;}.pm-sidebar div#block-nodeblock-8981 li.views-row-last {width:auto!important;}.pm-sidebar div#block-nodeblock-8981 a, .pm-sidebar div#block-nodeblock-8981 li.views-row div.title {font-size:13px;}.pm-sidebar div#block-nodeblock-8981 div.title {line-height:12px; margin:-1px 0px 5px 0px;} CA Technologies Celestix CharTec Citrix GoToAssist CloudBerry Lab Continuum Celestix Datto GFI Max IBM Idera Intronis LogMeIn ManageEngine McAfee OnApp PacketTrap StorageCraft Symantec Veeam Coming Soon Zenith Infotech Zyrion All sponsored contributions Advertisement Connect With Us TwitterFacebookYouTubeLinkedInRSS MSPmentor Authors
MSPmentor 250 Survey: Nominations Wanted by Joe Panettieri Published 10 hours 19 min 54 sec ago in Managed Services
3 Ways to Avoid Summer BDR Sloth for MSPs by CJ Arlotta Published 14 hours 14 min 54 sec ago in InfoCenter BDR
Business Leadership Lessons from Game of Thrones and the House of Stark by Jessica Davis Published 22 hours 46 min 54 sec ago in Your Business Advertisement MSPmentor.net AboutInfoCentersToolsYour BusinessConnectionsResourcesResearchMSP FAQ Site Features Media CenterRSSSitemapSite ArchiveNewslettersView Mobile Site MSPmentor Corporate Privacy StatementTerms of Use Follow Us TwitterFacebookYouTubeLinkedInRSS Search MSPmentor.net Search:
PISCES
The Var Guy Avnet to Buy Cloud Services Provider Seamless TechnologiesCrossing the Goal Line with MillennialsCisco Backing $150M Midmarket Push with $1B in Qualified Sales LeadsCisco Kicks Off Midmarket-Centric Site for Customers, PartnersReports: Google Set to Buy Mapping App Maker Waze for $1.3 Billionmore Visit thevarguy.com Talking Cloud IBM SoftLayer Acquisition Update: Cloud Meets MSPsSitecore Appoints Former Salesforce.com and Intel Executives to Leadership PositionsCosentry, Appshark Partner for Application Migration and HTML5 Mobile EnablementProgress Software Simplifies Building, Managing of Connected AppsHP Secures FedRAMP JAB Authorization for Managed Cloud Servicesmore
Visit talkincloud.com
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