Michelle and Randy discuss how MSPs can stand out by studying competitors' weaknesses instead of just promoting themselves, and tying sales targets to personal financial goals. One salesperson tripled their income in 26 months using these methods.
If you're wondering how you can differentiate yourself in a competitive MSP space, we're going to go ahead and break down some best practices right now. Okay. Hey Randy, how are you?
I'm good. How are you doing?
I am doing great. So I remember back in the day when I was doing like when I was doing door to door sales and I got basically popped into the most competitive territory in like the entire country and it was B2B sales. So I remember my heels and these really heavy books. I had to go up all of the stairs and I was selling tax software which was really bizarre for a 24 year year old. And I knew nothing about tax software. But I went to training, I learned all of the things. But my greatest strength was wedging in on the competition. I knew exactly where the holes were and I was able to showcase that to all of my prospects. So by the end of the year I had the most competitive knockouts in the entire country. That's awesome. And the history of the company which was. And I still have the award and it's literally my favorite award. And there's just something really special about that competitive knockout. And I really enjoyed your talk today and, and I thought you could share just a few tips because I know you spent a lot of time on stage of what someone should focus on when they're going in to an incumbent and looking to take away that business for their msp.
Well, I think you mentioned it just sounds like you really knew your competition and because you know your competition now you know how to exploit their weaknesses. A lot of people feel like they really know themselves but they don't know the competition. Something about all they can do is just make a good pitch and hope that it works out. So I think that is like probably number one.
Okay, I love that. Why do you think we naturally just talk about ourselves instead of the product that we're actually selling?
We naturally talk about ourselves and why don't we naturally do it? Because we naturally do it. I mean we're, we've all been trained to do that, you know, in school, we've been trained to do that. Life, we've been trained to do that. And seldom do we really get challenged in a hardcore way about defending how we're better, you know, cause so many, it's like I had this one client, that big insurance company and they, and their logo is blue and they. And part of their identity was, were really nice. And so then I kind of started making fun of like they drink that blue Kool Aid and If you started to challenge things, you almost get thrown out of their culture. So so many cultures have this. We want you to think this way, don't think outside of it. And people don't challenge. So therefore it's easy to naturally get stuck in that.
Yes. And I don't think anyone's ever bought because they said, I hope you like me. Maybe it gets you in the door, but that's probably not going to get you to take away a client. Right. So, okay, absolutely. What's one of your favorite stories and when were you were able to coach someone on getting that competitive edge and helping them, you know, of course, be successful? I know, I know. I'm sure you've done it a bajillion times, but I would love a story because I think people really resonate with that.
Yeah, I. I mean, I honestly can't think of anything specific. Well, I can tell you this. There's this young guy that had started following me and what I do, and he was making about $100,000 a year doing this after about six years in the insurance business. And he got onto the wedge and then he got onto our goal setting process. Because my goal setting process all focuses on really your savings capability. If you're not saving. In this case, he had three kids. If you're not saving $75,000 a year, in other words, if you don't make it at $100,000 years, he's not making. He's not saving 75.
Absolutely not.
So he got on fire. And it was interesting that within 26 months, he tripled his income.
I love that.
And he was doing it. He got really defined on his differentiation. He got really good at knowing his competition, and he started winning like crazy.
You know, it's just so interesting. So a lot of times at sales coaching or sales expertise or sales support, mentoring always focuses on like, how many deals do you want to get? How many deals do you want to get? But what I'm hearing is you tied it back to his personal goals, which then drove his success much further than if a sales manager was saying, we need 10 clients, or whatever the number is.
Yeah, I think a lot of sales leader business owners do a disservice both to themselves and also their salespeople. Because, I mean, the reality, most of us care a lot more about our families than we do other things, if you will. And so if you start to do the reverse engineering, map out the next 30 years. How much money do you need to pay for all those cars and universities and weddings and Then fund your own retirement. Hardly anybody knows the truth about that. If you can do that, then you can reverse engineer. Now, what do I have to do to grow my business to be able to make that kind of money? And now those things start to come together.
Yes, I absolutely love it. What would you say to somebody right now, either a salesperson or a business owner that is just really missing the mark when it comes to sales? And maybe they're feeling a little bit down on themselves right now because I've been having a lot of conversations during this event, and. And a few people have come up to me and said, you know, Michelle, I look at everyone's having all of this success, and I'm struggling, and I'm trying to do this, and I'm trying to run the play. And, you know, that, like, that gets me a little bit, you know, and so I want some encouraging words for that person right now.
Well, true story. So I didn't grow up a golfer, but I moved to Hilton Head, South Carolina, so I'm golfing more. And I've always wanted to be a better golfer. And I took some lessons. I never committed to it. And I went out and played with a guy that was really our best golfer in our club. And I wanted so much to do well that I did the worst I've ever done ever. I'm talking about ever. I mean, I sit in drives that go 30 or 40 yards off to left, and I was so embarrassed. That is what. Finally, you sit there and go, do I really want to get better, or am I just saying that to myself? And then I went and I really committed to in depth, weekly lessons about getting better. So this person, whoever it is, chances are they're trying a lot of stuff, and they feel like they're trying just like I was trying at my golf. But I would say, now go tie in with your coach, or go get a coach and really become just unscrupulous.
About what's going on, completely committed and getting rid of everything that's distracting you. Absolutely. Wonderful. Okay, well, thank you so much, Randy. We really appreciate your talk, and thank you so much for being on the show.
