the math and science of top msp profitability
TRANSCRIPT
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© 2015 N-able Technologies, Inc. All rights reserved. 1
The math and science of top MSP
profitability
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Webinar details
? REC
Length: 60min Questions welcome any time
Recording and slides available
next day
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© 2015 N-able Technologies, Inc. All rights reserved. 3
On today’s Webinar
Presented By:
Gary Pica
President, TruMethods
David Weeks
Channel Sales Manager, N-able
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Giving service providers the insights we’ve gained from
working with over 5,500 MSPs
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The Math and Science of
top MSP profitability
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• There is a science to
generating higher MSP profit
margins
• Most MSP don’t understand the
simple math
MSP Science
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MSP Math and Science
1. MSP Pricing
2. Impact of client size
3. Measuring value through reactive time
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Checkpoint
Average World Class
AISP < $100 $130-$160+
Average MRR < $2,000 $3,500+
Net Profit 10% 25%+
Leverage $100,000 $150,000+
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Copyright 2013 TruMethods, LLC
Leverage
• Relationship between an hour worked
and a dollar billed
• More revenue with less
EE’s
Pricing Guidelines
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Measuring Leverage
Average MSP World Class
Number of
Employees 10 10
Annual Service
Revenue 1,000,000 $1,500,000
Leverage $100,000 / EE $150,000 / EE
Unrealized Profitability = $500,000!
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Unrealized Profitability
What is your unrealized profitability?
Number of employees * $150,000
minus
Annual Service Revenue
=
Unrealized Profitability
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MSP Math and Science
• How much should you charge for
your services?
• How much will clients pay?
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MSP Math and Science
• How much should you charge for
your managed services?
–What are you costs?
–What GM do you expect?
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MSP Math and Science
• Pricing hourly services is easy
–Hourly rate
–Employee cost
–Utilization/effective rate
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MSP Math and Science
• MSP pricing is more complex
–We charge a monthly fee
–We have tools and technology
–Several people and roles deliver
services
–We need a standard to measure costs
and profitability
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MSP Math and Science
• All in seat price (AISP)
–Average price per seat
–Total MRR divided by total seats
supported
–$2,000/month for 20 seats=$100 AISP
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MSP Math and Science
• What is your gross margin on the
$2,000/month client?
–You need to calculate your average
cost per seat
– If you don’t know your seat cost you
don’t know if your price is right
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Cost per Month per Seat
Support $9.38
Centralized Services $9.50
Network Administration $11.60
vCIO $6.31
Total: ~$36 / Month / Seat
Micro Picanomics
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Gross Margin:
AISPTotal Costper Seat
Gross Margin
Gross Margin %
$125 $36 $89 72%
Micro Picanomics
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What if your AISP is lower?
AISPTotal Costper Seat
Gross Margin
Gross Margin %
$125 $36 $89 72%$100 $36 $64 64%$85 $36 $49 58%
Micro Picanomics
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What if cost per seat is higher?
Micro Picanomics
AISPTotal Costper Seat
Gross Margin
Gross Margin %
$125 $46 $79 63%$100 $46 $54 54%$85 $46 $39 45%
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Not all costs are per seat
• Per seat costs
–Support desk
–Tools and technology
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Not all costs are per seat
• Per client costs
–vCIO
–Network Administration
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Not all costs are per seat
• One vCIO can manage 35-40
accounts
–35 X $1,500 MRR/client= $52,500 MRR
–35 X $3,500 MRR/client= $122,500 MRR
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Not all costs are per seat
• One Net Admin can manage 20
accounts
–20 X $1,500 MRR/clients= $30,000 MRR
–20 X $3,500 MRR/client= $70,000 MRR
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The impact of price
ExampleAvg.
Seats
Avg.
AISP
Avg.
MRR
MRR with
50 clientsSeats
Right
Customers-
Right price20 $140 $2,800 $140,000 1000
Right
Customers-
Wrong Price20 $95 $1,900 $95,000 1000
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MSP Math and Science
• How much should you charge for
your services?
• How much will clients pay?
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Value based pricing
• Technology based pricing: Value built on
features, tools and support
• Value based pricing: Value build on
business impact
• Ability to “reframe clients” by showing
the impact on the big costs in their
business
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Reframing process
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The MSP Value Stack
MSP
• Support
• Cloud services
• Professional services
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The MSP Value Stack
Budget
Strategy
Impact
Alignment
MSP
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TruBusiness Partner
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TruBusiness Partner
• Technical to business relationship
• Business Strategy
• Business goals, challenges, risks,
vision, core values, competition,
competitive advantage, market position,
margins…
• Technical Alignment and Business
Impact are the foundation
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The Value Stack
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World
Class
Impact
Alignment
MSP
• Time at the top of the
stack=value
• Reactive time is the
barrier
• Control reactive time
to control your value!
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Inventory
of
Time
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Finite amount of time
• Your technical time is inventory
• You have a finite amount of inventory
• Your inventory has no shelf life
• What percentage do you spend on reactive
support?
• How much time is left to spend at the top at
the stack?
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How your inventory is allocated
• How many tickets do you close in a month?
• How much time does it take to close?
• How much of your total available time is
reactive?
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Calculate RHEM
Tickets / Endpoint / Month
times
Average Resolution Time
equals
Reactive Hours / Endpoint / Month (RHEM)
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Example
A B C D
Tickets /
Endpoint / Mo.1 0.5 0.5 0.25
Avg. Resolution
Time1 hour 1 hour 0.5 hours 0.5 hours
RHEM 1 hour0.5 hours
(30 minutes)
0.25 hours
(15 minutes)
0.125 hours
(7.5 minutes)
Support
Resources6.25 3.1 1.55 0.78
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• Endpoints supported: 1,000
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Inventory of time
Total available technical time minus
RHEM = time left at the top of the
stack?
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Hours per Delivery Area
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0
200
400
600
800
1000
1200
1 hour RHEM .5 hours RHEM .25 hours RHEM .125 hours RHEM
Hours / Delivery Area (1,000 Endpoints)
Reactive Support Professional Services Centralized Services vCIO Network Administration
Company B Company C Company DCompany A
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Bold Statement
• You can control the amount of reactive service
requests generated from your clients!
• What is the science behind lowering RHEM?
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Lowering RHEM
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• Using Automation to lower RHEM
–Review tickets and alerts monthly
–Look for recurring issues
–Use monitoring and automation
–Go beyond patch, spy, and spam
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Lowering RHEM
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• Using Technical Alignment lower RHEM
–Develop detailed standards
–Continuously align clients technology
–Dedicate resource to this network
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SupportCentralized
ServicesProfessional
ServicesNet
AdminvCIO
Super
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Network Administration vCIO
Unleash your Super Power
StandardsTechnicalAlignment
BusinessImpact
ClientStrategy
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Your client’salignment against
your standards
Your standards(Super Power)
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MSP Math and Science
1. MSP Pricing: AISP
2. Impact of client size: Average MRR
3. Measuring value through reactive time:
RHEM
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Summary
• Target 70% GM on MSP revenue
• To command high prices you need a
value based pricing approach
• Lower RHEM and move up the value
stack
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The FormulaWon Program
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The N-ABLE TECHNOLOGIES and N-CENTRAL marks are the exclusive property of N-ableTechnologies, Inc. and its affiliates, are registered with the U.S. Patent and TrademarkOffice and the Canadian Intellectual Property Office, and may be registered or pendingregistration in other countries. All other N-able trademarks, service marks, and logos maybe common law marks, registered or pending registration in the United States, Canada, orin other countries. All other trademarks mentioned herein are used for identificationpurposes only and may be or are trademarks or registered trademarks of their respectivecompanies.