When it comes to implementing marketing, I’m not just talking about sending out postcards or running a few ads. My kind of marketing, for those of you familiar with the toolkit, is about maximizing growth, revenue, and profits. It’s about living your business and life on your terms. It’s a strategic approach focused on growth in every aspect: revenue, profits, staff, and more.
Many MSPs give lip service to the idea of growth. They talk about it, think about it, but they don’t actually do it. The question I often hear is, “Why should I grow?” Well, if you don’t have a marketing plan in place, you’re not going to grow. It’s that simple. And if you don’t want to grow, why are you even considering marketing?
Better Quality Clients
One of the key benefits of growth is the ability to select and ascend to better quality clients. When you start your business, you’ll take any client who can fog a mirror and write a check because you need the revenue. But as your business matures, you need to continually assess and upgrade your client base.
In the first year, taking any client might work, but by the tenth or twentieth year, it won’t. Successful businesses constantly look for better quality clients and develop the ones they already have. This dual strategy helps you get more strategic about your marketing efforts and business growth.
Increased Profit Margins
Growing your business allows you to achieve higher profit margins through economies of scale. Small businesses typically generate around $100,000 in revenue per employee. However, larger enterprises can generate $300,000 to $500,000 per employee due to their efficiencies of scale. As you grow, you can also afford to outsource strategically, reducing costs and increasing margins.
Attracting and Retaining High-Quality Employees
When I started my business, I was living in a small apartment, maxing out credit cards to pay for groceries, and teaching aerobics classes at night to make ends meet. In such a position, attracting high-quality employees was nearly impossible. However, as your business grows and becomes more successful, talented people will seek you out.
For example, some of my recent strategic hires came to me because they saw the success and potential of my business. When you have a growing business with a good reputation, you attract ambitious, entrepreneurial employees who want to be part of something exciting.
Protection from Aggressive Competitors
A growing business is more stable and better protected from competitors. With a reliable customer base and recurring revenue, you can withstand challenges and market changes more effectively. A strong marketing system helps you develop loyal customers who stick with you, providing a safety net in turbulent times.
Marketing and Growth Go Hand In Hand
Effective marketing isn’t just about getting more leads or customers. It’s about getting better quality customers and developing them into valuable assets. This approach allows you to be more selective, reducing the stress and frustration of dealing with difficult clients.
Strategic Ascension
As you grow, you’ll find it easier to attract and work with better quality clients. This is not because the market has changed but because you have. A robust marketing system gives you the confidence to be selective, knowing that you have a steady flow of leads and sales.
Developing Client Relationships
Developing strong, loyal client relationships is crucial. These relationships provide a stable revenue base and a buffer against market fluctuations. For instance, after 9/11, many seminar-based businesses went under, but companies like Disney, with a loyal customer base, could weather the storm. They trusted their customers to keep coming back, highlighting the importance of cultivating a loyal client base.
Conclusion
Growing your MSP business is not just about increasing revenue. It’s about selecting better quality clients, achieving higher profit margins, attracting top talent, and protecting yourself from competitors. It’s about setting up a marketing system that supports your growth and allows you to be selective and strategic. As you grow, you’ll find that the quality of your clients, employees, and overall business improves, leading to long-term success and stability.
Register For Our Free Webinar To Discover The 4 Proven Marketing Systems That Will Net You 12 To 24 New Clients Every Year
When it comes to implementing marketing, I’m not just talking about sending out postcards or running a few ads. My kind of marketing, for those of you familiar with the toolkit, is about maximizing growth, revenue, and profits. It’s about living your business and life on your terms. It’s a strategic approach focused on growth in every aspect: revenue, profits, staff, and more.
Many MSPs give lip service to the idea of growth. They talk about it, think about it, but they don’t actually do it. The question I often hear is, “Why should I grow?” Well, if you don’t have a marketing plan in place, you’re not going to grow. It’s that simple. And if you don’t want to grow, why are you even considering marketing?
Better Quality Clients
One of the key benefits of growth is the ability to select and ascend to better quality clients. When you start your business, you’ll take any client who can fog a mirror and write a check because you need the revenue. But as your business matures, you need to continually assess and upgrade your client base.
In the first year, taking any client might work, but by the tenth or twentieth year, it won’t. Successful businesses constantly look for better quality clients and develop the ones they already have. This dual strategy helps you get more strategic about your marketing efforts and business growth.
Increased Profit Margins
Growing your business allows you to achieve higher profit margins through economies of scale. Small businesses typically generate around $100,000 in revenue per employee. However, larger enterprises can generate $300,000 to $500,000 per employee due to their efficiencies of scale. As you grow, you can also afford to outsource strategically, reducing costs and increasing margins.
Attracting and Retaining High-Quality Employees
When I started my business, I was living in a small apartment, maxing out credit cards to pay for groceries, and teaching aerobics classes at night to make ends meet. In such a position, attracting high-quality employees was nearly impossible. However, as your business grows and becomes more successful, talented people will seek you out.
For example, some of my recent strategic hires came to me because they saw the success and potential of my business. When you have a growing business with a good reputation, you attract ambitious, entrepreneurial employees who want to be part of something exciting.
Protection from Aggressive Competitors
A growing business is more stable and better protected from competitors. With a reliable customer base and recurring revenue, you can withstand challenges and market changes more effectively. A strong marketing system helps you develop loyal customers who stick with you, providing a safety net in turbulent times.
Marketing and Growth Go Hand In Hand
Effective marketing isn’t just about getting more leads or customers. It’s about getting better quality customers and developing them into valuable assets. This approach allows you to be more selective, reducing the stress and frustration of dealing with difficult clients.
Strategic Ascension
As you grow, you’ll find it easier to attract and work with better quality clients. This is not because the market has changed but because you have. A robust marketing system gives you the confidence to be selective, knowing that you have a steady flow of leads and sales.
Developing Client Relationships
Developing strong, loyal client relationships is crucial. These relationships provide a stable revenue base and a buffer against market fluctuations. For instance, after 9/11, many seminar-based businesses went under, but companies like Disney, with a loyal customer base, could weather the storm. They trusted their customers to keep coming back, highlighting the importance of cultivating a loyal client base.
Conclusion
Growing your MSP business is not just about increasing revenue. It’s about selecting better quality clients, achieving higher profit margins, attracting top talent, and protecting yourself from competitors. It’s about setting up a marketing system that supports your growth and allows you to be selective and strategic. As you grow, you’ll find that the quality of your clients, employees, and overall business improves, leading to long-term success and stability.
Register For Our Free Webinar To Discover The 4 Proven Marketing Systems That Will Net You 12 To 24 New Clients Every Year
