Podcast: Play in new window
Steve Alexander is the CEO of MSP-Ignite, an organization that helps managed service providers achieve maximum equity and recurring revenues through facilitated peer groups. We talk about the benefits of being part of a peer group, the recurring revenue model’s impact on business valuation, and how to maximize your profit margins as an MSP.
Time Stamps
[00:30] Steve’s entrepreneurial journey
[01:54] What is an MSP?
[07:10] How Steve launched his first business advisory group
[07:53] Mastermind groups and how they operate
[11:13] Top tips for building trust in a mastermind group
[13:53] The difference between project revenue and recurring revenue
[16:22] How to build a recurring revenue business model
[20:44] Why you should consider joining a peer group
[23:38] The main reasons why people join and stay in business peer groups
[25:10] A glimpse into what a typical peer group meeting looks like
[28:21] How to deal with an unmanageable peer group member
[31:34] The subtle art of managing efficient mastermind groups
[37:32] Steve’s process of onboarding new peer group members
[38:59] How to maximize your profit margins as an MSP
[41:47] Parting thoughts
[43:04] How the recurring revenue model has evolved over time
Links and Resources
Steve and Greg Cleary’s New Book: Pinnacle: Five Principles that Take Your Business to the Top of the Mountain