Have you ever watched the TV show “Restaurant Impossible” with chef Robert Irvine? I’m addicted to it. Robert is a world-famous chef and restaurateur. The show goes like this: He helps restaurants around the US that are struggling and the story of these restaurants is always the same - “things were great for a while but now we are in serious trouble.” In comes Robert and his staff, and he attacks the problem in these four areas:
- Attractiveness and cleanliness of the restaurant
- Quality/value of the food/meals
- P+L/costs/margins of the business
- Marketing plan to get customers in the door
Every single episode he finds a run-down, unattractive and unsanitary restaurant where he immediately brings in the crew to give the restaurant a face lift that is inviting and appealing to customers. Problem solved! Modern MSP analogy - your website tells your story...you never get a second chance at a first impression.
He then tastes the food and is always disappointed. He then creates new much simplified menu with new fresh ingredients and teaches them how to cook a delicious meal that will keep customers coming back for more. Problem solved! Modern MSP analogy - your cloud solutions bundles must be simple and solve your customers' business problems to keep them paying and coming back for more.
He then asks the restaurant owner what their food costs are and their margins. After looking at their financials he always finds that their costs are much higher and margins much lower that they thought and goes on to address the issue. Problem solved! Modern MSP analogy - it doesn't matter how much cloud you sell - if you don't create high value cloud bundles and focus on your costs to achieve high margins and keep an eye on the numbers it's all if for naught.
Lastly, chef Irvine asks what they do to market their restaurant always to find out they rely 100% on word of mouth. He then teaches them some very simple and cost-effective marketing techniques. Problem solved! Modern MSP analogy - word of mouth and referrals will not be enough to grow a recurring revenue business. Marketing and sales 2.0 is a must.
Remember, I said “problem solved” regarding Roberts work. Well that is only for a period of time. Everything he preaches needs to be as consistent as brushing your teeth. The same goes for your Modern MSP business.