ERP102 - MSP Growth Strategies to Escape "Death Valley"
35:05 Share

Welcome back to another episode of Evolved Radio Podcast! In today's episode, Todd is joined by Jake Gregorich), VP of Growth for Lyra Technology Group), to discuss some fascinating topics related to the challenges and strategies involved in exiting a business. Together, they dive into the concept of the "Death Valley" in the 1 to 5 Million range, where businesses face difficulties due to lack of buyer interest, low selling prices, and stalled organic growth. But fear not, because our experts are here to guide you with tactical and strategic approaches to overcome this hurdle. They explore the importance of implementing cybersecurity measures and running opt-out campaigns to ensure clients adopt best practices, ultimately leading to impressive year-over-year growth of 8 to 10%. Additionally, our speakers share their insight on being more prescriptive about the technology stack, challenging the idea of assuming client preferences and instead advocating for what they believe is best. Furthermore, they delve into the fascinating world of successful managed service providers (MSPs) and the key factors that contributed to their achievements. By appointing a second in command and giving them equity, these MSPs experienced significant growth and even achieved valuations 10 times higher than the initial value. Our experts provide valuable insights on finding the right person to drive growth in your business and the benefits of promoting them, including potentially granting them a stake in your business. But that's not all! Todd and Jake also shed light on the division between the external-facing aspects of a business and its internal operations. Through various examples, they illustrate the potential pitfalls of centralization and the importance of preserving culture and customer relationships during integration into larger businesses. In terms of marketing and sales strategies, our speakers stress the value of being present in the same places as your ideal customers. Whether it's through multichannel marketing, retargeting warm leads, or even speaking at events, it's all about gaining authority and credibility in the eyes of your target audience. So, for an episode packed with actionable advice and insights on business exit strategies, growth, marketing, and more, tune in to this exciting episode of Evolved Radio Podcast!   This episode is brought to you by Evolved Management Training Courses). Online courses specifically crafted for MSP needs. A Service Manager BootCamp course), a project manager for MSPs course), an MSP security fundamentals) course, and an IT Documentation Done RIght) course.