Managed Services - The Secret Sauce For A Successful Managed Services Business

Just for the moment, consider yourself a moderately successful IT service provider who sees the growing opportunity in managed services, is quickly developing the technology to support this burgeoning market and knows the secret - has in fact the secret "sauce" - to managing a successful managed services business.

Now liken yourself and your IT business to the owner of a fine dining establishment. The restaurant owner knows that his professional livelihood is built on the "meat and potatoes" of his operation, namely his fine selection of highly quality meats cooked to perfection. And he is convinced that his culinary success is due to the secret "sauce" he has created to adorn each entree. He even has a signature garnish that he places on top of each entree that makes it highly unique to him and a cut above his competition.

This same analogy applies to your IT business. Your company is probably beginning to shift away from the technology and the tools that deliver services to a realization that the managed services business is the "meat and potatoes" upon which your future livelihood will rest. Your "culinary" success will be due, in large part, to the special "sauce" you create to adorn each managed service you offer. That special "sauce" is your marketing strategy. The garnish you place on each managed service is the one unique fact or feature about your business -and how you market it - that sets you apart from your competitors.

So, what are the "meat and potatoes" of your business - the managed services you plan to offer your clients as you transition to a successful managed service business? How are you going to marketing those services - what "sauce" or "sauces" are you going to create to sell them? What "garnish" will you put on top - what fact or feature about your business is unique enough to separate and differentiate you from your competition?

First, let's talk about managed services. This is the "meat and potatoes" of your operation.

To optimize your overall performance as a successful managed services business, here are five key elements of the business to master. Mastery of these "secrets of success" will determine how well you do in the marketplace and positively impact your success and survivability as a managed services provider (MSP).

Core Technologies. The definition of managed services is expanding from infrastructure management and remote maintenance to the inclusion of software as a service. Selecting the right technology is one key piece of an effective MSP strategy. Successful MSPs typically use one of two types of software solutions - Professional Services Automation Software (PSA) and Remote Monitoring and Management Software (RMM). PSA blends such functions as customer relationship management (CRM), sales force automation, customer billing and troubleshooting into one single comprehensive platform. RMM allows the MSP to proactively maintain and troubleshoot customer systems and networks off-site.
Emerging Technologies. Up until now, MSPs were able to master basic PC and server administration. Today's MSPs face new challenges as the landscape of managed services continues to evolve. Now these MSPs have to master cloud and SaaS managements and learn how to tap into systems like Amazon Web Services (AWS), Google Apps, Microsoft Windows Azure and Microsoft Business Productivity Online Suite (BPOS). Keeping pace with these options requires constant networking. Successful MSPs make this one of their biggest priorities.
Business Leadership. As you move from being a technology driven business to being a managed services provider, commitment from the CEO and top management is critical. Managed services will stall or fail completely without this commitment. CEOs don't have to master the MSP technologies but what they do need to do is this:
Promote recurring revenue streams as much as possible instead of quick break fix project work.
Track and improve customer service levels rather than billable hours.
Schedule frequent meetings to advise customers on those service levels and to discuss technologies that can further improve overall business performance.

Hiring & Firing, Sales Training & Compensation. The jury is still out on whether MSPs need to fire or replace staff as they push into managed services or work with existing staff to generate more and more recurring revenue. Sometimes MSPs find it works better if they augment their staff with outside talent, though many times this talent can be found within their existing rank-and-file. In more traditional IT companies, sales teams are generally paid a one-time commission for special projects revenue. In the managed services market, however, recurring revenue models create new opportunities and new challenges. The biggest challenge is keeping salespeople focused on longer-term, ongoing contracts rather than quick-hit project work. Without the proper compensation plans in place, salespeople may make half-hearted managed services calls and end up pitching a new technology product instead of the managed services you hope to sell. The best MSP in the most successful managed services business has clearly communicated compensation plans with well-defined goals and priorities that motivate the sales professional to look for more business and more opportunities for managed services from either existing clients or new ones.

Service Level Agreements. Successful MSPs know that without a well-designed and understood service level agreement in place, the clients will be expecting one thing and the MSP another. Using a solid service level agreement shows the client that you know what you are doing and that you will put both your reputation and wallet behind your word.

Now, let's talk about how you are going to marketing these managed services. What "sauce" or "sauces" are you going to create to sell this business model and bring value to the customer. The signature "sauce" you create and the ingredients you use to make it is the key to your success. Here are the three ingredients you need:

Marketing & Client Education. Managed services generates a significant amount of information about end users' activities and needs. Successful MSPs use that information to anticipate those needs and recommend applications and value-added services to help clients run their businesses more effectively. Using that information as part of a marketing strategy to better educate the customer is paramount. Many MSPs believe the client's lack of knowledge and understanding about the managed services business model is their greatest inhibitor to success. When the time comes to describe your managed services portfolio to clients, remember these three words - less is better. Skip the high-tech acronyms, the techie bells and whistles, and focus on the benefits to your client. Concentrate only on the services you offer that bring them real value, like customer satisfaction or service levels.

Marketing Strategies. To date, managed services has been about the technology, but today's successful MSPs are more focused on how to run their business well and deliver value to their customers. They know the importance of a successful business model, targeted sales strategies and value propositions and they are marketing all of that to their clients as part of their managing services portfolio. But the driving force behind the push to invest in a sales and marketing strategy is the company's commitment to sell the customer on the value the MSP can provide.

The New Marketing Model. Successful MSPs know that technology alone is not going to change their business. They know it's all about creating a business model of managed services and equipping themselves with the skills to run their business and to market it to a targeted audience. To build a successful marketing model, you need to do three things:

Define your product (managed services) from the client's perspective and sell it that way. Let client's know the advantages of this approach. Let them know you can provide them with software and spread costs over a number of clients. Tell them you can build more application experience than in-house staff. Assure them that your key software systems are kept up to date, available and managed for performance by experts. Let them know they will always have access to product and technology experts. Show them you can reduce their costs to a predictable monthly fee.
Know your client and let them know you know them. Let them know that you know it takes them six to 12 months to commit to a services program. Speak to them in their own language by speaking to the pains that you know that they have because they are common in the industry. Then show how you are uniquely qualified to resolve these pains and problems.
Use sales and marketing tools to your advantage to reach your client and, use only those with a proven return on investment. Schedule as many visits and meetings with the client as you can to advise them on service levels and to discuss new and emerging technologies to further improve business performance. Invite them to events like small business luncheons to get their thoughts and opinions on business trends or use of technology. Prepare hand-outs describing the benefits of predictable, flat-rate, proactive managed services programs. Create ongoing marketing and PR campaigns to announce new software products and technologies. Actively solicit customer endorsements.

Now, once again, liken yourself and your IT business to the owner of a fine dining establishment. We have defined the "meat and potatoes" of your operations - all of the managed services upon which your business in now built. We have given you the key ingredients to make your special "sauce" or "sauces" - client education, key marketing strategies and the new marketing model. Now all you need is that signature garnish you place on each of your products that is unique to you and you alone and a cut above your competition.

That garnish is a statement of who you are and how you present yourself. Are you ingenious? Are you creative? Are you capable of delivering the services required in a knowledgeable and innovative way? Do you communicate reliability and dependability? Are you empathic towards your client and their needs? What is it about you that makes the client want to do business with you and nobody but you? These are the intangible things that set you and your managed services business apart from your competitors. This is what your clients will remember.

This is a concise overview of what it takes to succeed as an MSP. Know your product. Know the market. Know your customer. Then move ahead and capitalize on the opportunities in managed services.

Now that you have tasted the "secret sauce" for managed services, you can get your hands on a complete built-for-you marketing system that will help you attract more clients, avoid expensive mistakes and win the managed services game. Go to http://www.managedservicesblueprint.com to claim your free audio CD on building an auto-pilot marketing system that attracts and closes high-profit managed services clients.

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Marketing For Online Business - A Marketing Business Secret

The Internet is the new gold rush for business sales and new forms of online business marketing campaigns are flooding through cyber-space.

The problem is identifying the legitimate campaigns from many of the scams doing the rounds. As the International business guru I am often asked by my clients to recommend good quality online marketing secrets.

The following is one particular promotion.

Marketing for online business a marketing business secret outlines a dynamic new business marketing system that you only pay for once, but continues to pull in customers for up to 4 years or longer?

Would a new business marketing system that is blasting all success projections to smithereens interest you? Would it interest you to know that this new business marketing system is so dynamic that hundreds of other credible businesses will promote your business for you at no additional cost to you?

Would it interest you to know you can track the progress of this dynamic new business marketing system at the click of a mouse from any computer with internet access from anywhere in the world?

Would it excite you to know this business marketing system for multiple different business sectors has achieved greater than projected success in every sector? And that this system is about to be launched globally shortly?

How interested would your business clients be, if they didn't have to spend days or weeks sat around a table brainstorming marketing ideas with a conventional marketing company, only to find out that most of the ideas cost too much to implement and then fail to succeed?

This marketing for online business is a marketing business secret. It's new... It's very new... And I want the readers of this article to be the first to hear about it.

Business Directors and owners regularly pay search engine optimisation (SEO) companies tens of thousands of pounds to get an elusive first page natural ranking on Google and other search engine web sites.

As a business growth consultant for numerous businesses I have fired 6 different credible SEO companies in the last 2 years because they failed to achieve better online marketing success than I can achieve myself.

All of these six companies informed me it would take between 9 to 18 months to get a Google first page natural ranking. I paid one reputable SEO company £9,000 over 5 months and they never got me a first page Google or any other search engine position.

The last SEO Company I fired were retained on a 12 month contract at £30,000 per year. They also promised, but failed to deliver a Google first page listing.

Did you know online buyers are 4 to 6 times more likely to buy from a business that is positioned on the left hand side of the search engine screen, than from a pay per click or sponsored link on the right hand side of the screen.

How many times has one of your clients said, "I wish I could just get a Google first page listing?" Google first page listing has become the Holy Grail for many businesses struggling to achieve online success.

Think of the value of a Google first page listing. Now think of the value of multiple Google first page listing. How would you feel if hundreds of other internet businesses found your article so credible they post it on their own business web sites promoting you and your business throughout cyber space?

How much value would your business clients place on you if you introduced someone who gets their business listed on multiple high ranking search engine pages in a short time frame? This perfectly legitimate online marketing system has the capacity to dominate search engine page 1 listings?

Every one of the 6 SEO companies I fired, informed me that no search engine would allow the same article to get more than one listing position on any search engine page.

This new business marketing service proves them all wrong. One of these online business marketing secrets is that it doesn't matter if your business is a niche business, as this cross sector system work for all business sectors.

Have you ever heard of a business marketing company that has achieved position 1, 2 & 3 on the first page of Google with the same article?

What about position 1, 2, 3, 4 & 5 on the first page of Google with the same article? Ranking at Google position 1 to 5 is classed as 'above the scroll' total natural search domination for the same company or product.

This new online business marketing service is so finely tuned, business owners get disappointed when only achieving positions 1 to 5. Another one of the secrets associated with this system is that the greatest success was total domination within the last month by achieving the first 1 to 32 positions on the first 4 pages of Google.

The dynamic online marketing service Includes

1.Online research of your company, products services and search engine positions

2.Online research of relevant key words and key phrases to include in your search engine positions article.

3.A unique and dynamic article written specifically with one aim, to power drive you and/or your business up the organic search engine positions listings.

4.An embedded anchor link in the footer of the article which links back to your web site.

5.Every time another business or web site owner runs a copy of your article they feature your resource box at the bottom of the article which contains your web site address and an e-mail address. This promotes your search engine positions.

6.You can also post our article on your own web site Blog. Because this is a new venture in the pre-launch phase the name and contact details of the company are not being released yet.

However from the middle of October you will be able to identify the company via an online search. In its basic format I can inform you that the company offering the service will provide the following:

Marketing for online business a marketing business secret - this is what they do

1. After extensive online research they choose the title of your article.

2. After extensive online research they choose the precise keywords and key phrases required to turbo charge your article up the Google first page listing search engine rankings.

3. They may on occasion utilise an incorrectly spelt or grammatically incorrect key word or key phrase if their research indicates large volumes of people are searching for something relevant to your business, products and/or services but they are spelling it wrong when entering it into the search engine browser.

4. They write a unique content article of anything between 750 to 1,000 words.

5. They list the article on their own web site or yours if appropriate, to gain original content status from the search engines.

6. They distribute your article via one specialised online marketing service who then distribute it out to hundreds & hundreds of other credible business web and Blog owners who deem it credible enough to post on their web sites and Blogs.

7. They pay all submission & administration fees for this service.

8. 7 days after final submission they contact you with your search engine placement positions. (If they achieve instant success they may contact you earlier.) You can of course track the progress yourself.

9. They maintain copyright ownership of every article which enables them to offer the article to all legitimate web sites.

Here's what they can't, and don't do

1. They can't write an article openly advertising your company, products or services in the main body of the article.

2. They can't list your company name in the main body of the article.

3. Do not be concerned by this, as they will include details of how to contact your company online and an e-mail address in a resource box at the bottom of the article. With the internet gold rush for businesses it is critical to enhance your online marketing presence.

Dr Mark D. Yates [http://www.markdyates.bcoss.org/] The International Business Guru & Growth Consultant grows businesses fast delivering exponential growth, increased turnover & profit margins. He delivers business support to small, medium & large businesses in 42 countries. To claim his FREE business case files e-mail him at drmarkdyates@aol.com

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Small Business Secret #4 - 10 Chapter Elements Every Business Plan Must Have to Be Successful

One of the ten most important documents you must have in creating a successful small business, and in fact any business is the Business Plan. The Business Plan is the overall summary document that describes how your business will work, how people will invest into your business and how the business will operate.

A successful Business Plan will contain 10 key Chapter elements and they are -

1. Company Description

2. Business Concept

3. Management Team

4. Market Analysis

5. Marketing Strategy

6. Operations

7. Investment Analysis

8. Growth Plan/Exit Strategy

9. Financial Projections

10. Business Mastermind Group Advisers

One element that should also be in your business plan that is not in the list of 10 key Elements is the Executive Summary. All documents that have some substance should have an executive summary that outlines a summary of the contents of the document. As this should be in every document you create, I felt that it was not a Key Chapter element and as such that is why it is not in my list of 10 Key Chapter Elements.

Chapter 1 - Company Description

The company description is the first chapter of 10 for your business plan. The role of the Company Description is to define the organization, who it will be owned by, the capitalization of the business, the location of the business and generally what the business will do.

Chapter 1 to a certain degree is a summary of other chapters within the business plan like the capitalization information but it also carries unique information like, where the business will operate from.

Chapter 2 - Business Concept

The Business Concept chapter is the vision side of your business plan. This is where you get to put your dream down on paper. You will define in this chapter information like the concept design of your business, an explanation of what your business will look like, what sort of image it is going to have, what your customers will see when they walk up the street and or into your front door. It will also define exactly what your business is going to do and how you are going to do it.

In the business concept chapter you may like to put some samples in this chapter as to what you will be selling or offering. For example if you were opening a restaurant then you might put a sample menu into this chapter as a sub chapter or if you were cleaning dogs then you might put in your sales brochure.

Chapter 3 - Management Team

The Management Team sets out who is going to manage your business, who the key players are and what their experience is. This chapter alone can make the difference in securing considerable money, if you are using the business plan to get others to invest in your venture. If you can demonstrate in this chapter that the people you are going to enlist to help manage the business have solid experience in your target industry then investors or banks or private equity groups are more likely to back you financially.

You should also include in this section any lawyer approved management agreements and confidentiality agreements.

Chapter 4 - Market Analysis

The Market Analysis is specifically focused on talking about the industry in which you will be operating. This chapter should included lots of facts and figures from reliable and verifiable sources. The sources of this information could include information from Government agencies that provide statistics, information from the local chamber of commerce or better business bureau or your industry association.

All the fact and figures you provide in your business plan must be verifiable. If you are hoping to garner money from private equity groups or financial institutions, they have teams of people whose job it is to go over Business Plans and to confirm that the facts and figures are in fact true and not made up. If they find that you have used dodgy figures or that you have made them up, then organizations will very quickly identify that and reject your application for financing.

One other way you may gather market information is by doing your own surveys of your intended market. Make sure though that if you are going to use these results that you keep the raw data and make it available to your investors. If you do not do this, they will question the validity of your findings. If they can take your raw results and verify what you have said then your survey results will be given a higher weighting during an investment review.

Chapter 5 - Marketing Strategy

The Marketing Strategy sets out what marketing and advertising you are going to do, to get the required business to meet your financial projections. This section will include how you are going to build that all important customer database, what mediums you will use to market your business. What marketing mix you will use to keep your customers coming back time and time again. In this chapter you will also address issues such as your Community and Charity Involvement plus who will be responsible for your public relations management.

Chapter 6 - Operations Chapter

The Operations Chapter looks at how your business will operate on a day-to-day basis. Issues to be included are how many staff you will employ, what positions they will hold, what training will they get, who your suppliers will be, an alternative list of suppliers if something should happen, the daily operations that will need to occur, what administrative systems you will put in place and finally the management controls you will put in place to ensure everything runs smoothly.

Chapter 7 - Investment Analysis

This is an important area for those people or institutions who will be investing into your business, cause essentially they want to know what they are going to get for their money. The Investment Analysis chapter will outline the full investment strategy, the investment types, the amount of the investment, the percentage ownership value for the investor, the investment roles and the Return on Investment.

The other area that I recommend that be included is the Equity analysis showing how Cash Distributions will be undertaken. From experience this area alone causes a lot of concern for investors and is often a sticking point when profits are being divvied out.

Chapter 8 - Growth Plan/Exit Strategy

This section is as important a chapter as the Investment Analysis Chapter. Knowing how you are going to expand your business and exit the business is your number one strategy and issue you need to address before starting the business. More so, you also must have it clearly articulated how your investors can exit the investment in your organization and also how you will expand investment options for other investors. For example, if you want to expand and to bring on more investment capital how will that affect the equity of the existing investors?

Each of these issues are ones that can often cause clear concerns and divisions with the investors in your organization and it is always best to have these issues addressed prior to the establishment of your business rather than once it has been started.

Chapter 9 - Financial Projections

Everybody likes this chapter as it defines what sort of money everyone is going to make. This section should include all project sources and how the cash will be used, it should define where all capital acquisitions will becoming from, sales projections, expenditure projections, labour projections, cash flow projections (the most important issue of all) and detailed summary statement of income for 1 year, 2 years and 5 years.

One of the other areas I also like to see at this point is a sample Chart of Accounts for the business. Often what is given in the Business Plan at this point is simply the same simple Chart of Accounts that every business uses rather than the one that is most appropriate for your industry. Getting a clearly defined Chart of Account at the start will tell investors whether you really understand how to invest and if you understand the industry you are going to be operating in.

Chapter 10 - Business Mastermind Group Advisers

Your Business Mastermind Group of Advisers is your 10 people who you will use, that are independent of your business to help your build your enterprise. These 10 people are usually made up of accountants, lawyers, industry specialists, marketing specialist and so forth. It is important to list this group in this chapter as equity investors or banks and financial institutions will look on these advisers and if they see people on your Mastermind Group that are expert specialists in the area of business you are entering then they will know that you have done your homework and if you are in trouble you will have people you can rely on to help you.

I like many people when I built my first small business, I did it without writing a business plan and that made life incredibly difficult for the first few years because I didn't have focus. As I have built more and more companies, and created their associated business plans, I have found that it is easier to build a successful enterprise once you have that information.

Without a business plan you will never truly achieve your goals, because you will not have clearly articulated what they are for that business. Making money is not an acceptable goal in business, you need to know where you want your business to go and what you want to achieve from that business.

To finish off, I would like to take a moment to summarize the ten elements every business plan must have:

1. Company Description

2. Business Concept

3. Management Team

4. Market Analysis

5. Marketing Strategy

6. Operations

7. Investment Analysis

8. Growth Plan/Exit Strategy

9. Financial Projections

10. Business Mastermind Group Advisers

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