Oct 23, 2023
Episode 206: This MSP won £7,000 MRR from networking
Episode 206
Welcome to the MSP Marketing Podcast with me, Paul Green. This is THE show if you want to grow your MSP. This week's show includes:
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00:00 Improve your networking game to win more clients
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10:17 How to raise your prices and take your clients with you
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19:31 Securing investment for your new business
Featured guest:
Thank you to Scott McCrady, CEO of SolCyber, for joining me to talk about setting up a brand new MSSP, and how he raised $20 million of investment to get the business off the ground.
With 25 years of experience working in the networking, telecommunications, and information security space, Scott is currently serving as the CEO of SolCyber Managed Security Services. Scott has worked with large companies and start-ups, among them IBM and EDS, where he held Security Engineer and Team Leader positions (US and London).
Previous to SolCyber, McCrady built the Asia-Pacific-Japan business at Symantec; he ran the global Managed Security Service, and the Symantec and Accenture Joint Venture. He then transitioned to FireEye pre-IPO to create their global MSS and System Integrator, and traveled to Singapore to help build their APJ business. After a successful run with FireEye, Scott helped spin out SonicWall from Dell to private equity and reconstitute the business into a profitable, cash flow-positive entity.
Connect with Scott on LinkedIn:
https://www.linkedin.com/in/scottmccrady/
Extra show notes:
* Listen or watch every Tuesday on your favourite podcast platform, hosted by me, Paul Green, an MSP marketing expert:
* https://www.linkedin.com/in/paul-green-msp-marketing/
* https://www.paulgreensmspmarketing.com/about/
* You can join me in the MSP Marketing group on Facebook:
* https://www.facebook.com/groups/mspmarketing/
* Subscribe to my YouTube channel:
* https://www.youtube.com/mspmarketing
* Find out about my MSP Marketing Edge service:
* https://www.mspmarketingedge.com
* Subscribe to this podcast using your favourite podcast provider:
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https://www.audible.co.uk/pd/Paul-Greens-MSP-Marketing-Podcast-Podcast/B08JK38L4V
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https://podcasts.apple.com/gb/podcast/paul-greens-msp-marketing-podcast/id1485101351
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https://www.stitcher.com/podcast/paul-greens-msp-marketing-podcast
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https://podcasts.google.com/feed/aHR0cHM6Ly93d3cucGF1bGdyZWVuc21zcG1hcmtldGluZy5jb20vZmVlZC9wb2RjYXN0?sa
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https://music.amazon.co.uk/podcasts/b03a9638-adf4-4491-93f1-569183e079d7/Paul-Greens-MSP-Marketing-Podcast
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https://open.spotify.com/show/1Hw52ScOg5WvGaBUkaOrI7
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https://tunein.com/radio/Paul-Greens-MSP-Marketing-Podcast-p1264893/
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https://blubrry.com/paulgreenmspmarketing/
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https://deezer.com/show/1512622
* Got a question from the show? Email me directly: hello@paulgreensmspmarketing.com
* Here's a link to Episode 179, where I covered networking in detail:
* https://www.paulgreensmspmarketing.com/podcast/episode179/
* Check out this week's recommended business author, Jay Abraham:
* https://www.amazon.co.uk/Jay-Abraham/e/B001IR1EXG/
Transcription:
NB this transcription has been generated by an AI tool and provided as-is.
[00:00:00] Speaker A: Fresh every Tuesday for MSPs around the world. Around the world. This is Paul Green's, MSP Marketing podcast. Hello, my friend, and welcome back to the show. Here's what we got in store for you this week.
[00:00:14] Speaker B: Hey, I'm Scott McCrady with SolCyber. Can't wait to be on Paul's podcast to talk about how we raised $20 million to bring a new security service to the market.
[00:00:23] Speaker A: And on top of that, fascinating interview with Scott, later on in the show, we'll be talking about hidden price rises. Is there an opportunity coming up for you to put your prices up in the new year?
Paul Green's, MSP Marketing Podcast let's start this week's show talking about networking. And I'll avoid my usual joke of networking, saying, I mean the one with people and not cables. But I do mean the one with people and not cables. Because networking events, depending on your experience of them and whether you've ever done them before, networking events are either fantastic places for you to go and meet potential new leads, or they are sheer hell. The idea of them is torture. It's a torment for you, the thought of having to go out and do them. I've done my fair share of networking over the years. When I started my very first business in 2005, it was like a general marketing business. And I used to go out to all the networking events in a county called Northamptonshire in the middle of the UK. And I went to literally every event that I could find. And then I joined BNI, which was great for a couple of years until it wasn't anymore. And over the years, I've had so many badly cooked breakfasts, got up at 05:00 A.m. To go to meetings, gone to evening meetings. It did win business. But then I found really good marketing, and I got really good at marketing, and particularly B to B marketing. And suddenly, networking was just one little thing that we did. It was no longer the thing that we relied on, but for many MSPs, networking is a big thing. And we did a whole subject on this back in episode 179. So if you want to dive into networking and why you should be doing it, go and relisten right now, or listen for the first time to episode 179. Now, the reason I want to mention it here in this episode is because I was recently talking to an MSP, happened to be here in the UK. It's someone I'm working closely with, but I've only known closely for about six months. And they have utterly gone for networking, almost as if there was nothing else. And there is actually lots of other marketing that they're doing, but they have a full time marketing resource in the business. And that person has decided, if I'm going to do networking, I'm going to do networking properly. And I've got some stats that they gave me just a few weeks ago when we had a catch up call. So they attended, they did eight separate events. So they are in London, here in the UK, and there are a lot of networking events and I think eight events was actually a fairly small number, but that was across a two week period. So for two weeks, they went to eight separate events. And I'm not quite sure if they are figuring on doing that regularly. That seems like a hell of a cadence, doesn't it, to go to? I guess that works out at four events a week. Maybe that's overkill, maybe you wouldn't find that many events in your area. But that's what they did initially. They went to eight different events and their goal was to go there and meet as many new people as possible, have some kind of meaningful conversation with them. So they went to these eight events. Out of these eight events, they got three hot leads. And I pushed them and said, Right, what does that mean? That three hot leads. Three hot leads is where they've had a conversation with someone which has ended with an exchange of business cards and diarizing. Hey, great, I'm going to give you a call tomorrow morning, 945, or whatever is the case. So that hot lead is someone that could go on to do business with them. There's an opportunity there and crucially, it's in the diary. There's not just that vague, give me a call. Oh, I hate that, don't you? Give me a call. What does that mean? Give me a call? It's a way of fobbing people off, isn't it? Give me a call next week, see if we're ready to talk to you. Well, guess what? Spoilers, we're probably not, because it's a way of fobbing someone off. If they're serious about talking to you, they will book something in their calendar there and then. And if they won't do that, the chances are high that they are not serious. So, eight networking events, lots of breakfasts, lots of talking to people, three hot leads and they have generated a brand new client. Out of those three hot leads, worth 7000 pounds of monthly recurring revenue in US money, that's around about, let's say, about ni…