Joey Pinz Interviews Sales Expert Carrie Richardson at RoarCon24

At the Liongard Roarcon 2024 Conference in Dallas, TX, Carrie Richardson had the opportunity to sit down with a long-time friend and fellow MSP consulting peer, Joe Pannone – affectionately nicknamed “Joey Pinz” by his golfing buddies.

Carrie and Joe have a few things in common – they’ve both exited from a business in the MSP space.  They’ve both lost over 100 lbs.  And they both love hosting podcasts!

Here’s a quick excerpt from the Joey Pinz Discipline Conversations podcast:

In this podcast, Carrie talks about her terrible high kicks (we were at the Dallas Cowboys Star training center while the next season of “America’s Sweethearts” was filming) growth, mergers and acquisitions, replacing legacy clients, private equity, raising your prices and asks the question:  “Why don’t MSPs believe they deserve to pay themselves and have a life-changing generational wealth level exit?”

Here’s a quick summary of Carrie’s appearance on the podcast:

Joey Pinz Discipline Conversations Podcast

Introduction:

• Joey Pinz discusses his journey of losing 130 lbs through discipline.
• He highlights the importance of discipline in various areas of life, including business, health, and personal growth.
• His podcast focuses on how discipline can help individuals and society improve.

Guest Introduction:

• Joey interviews Carrie, an expert in the Managed Service Providers (MSP) industry.
• The conversation is held at the Dallas Cowboys Stars training center in Dallas.
• The interview is conducted during LionGard’s Roarcon 2024 conference.

Carrie’s Background with MSPs:

• Carrie started in the MSP space through a referral and discovered a significant gap in MSPs’ ability to sell.
• MSPs were great technical experts but lacked the desire and skills to sell, which Carrie’s company filled by assisting with sales.
• Carrie’s current role focuses on business development while her husband handles consulting for MSPs.

MSP Industry Challenges:

• There are about 45,000 MSPs in North America, but only around 8,000 generate more than $2 million in annual recurring revenue.
• MSPs often face the challenge of transitioning from $2 million to $5 million to build generational wealth.
• One major obstacle is the reluctance to raise prices for legacy clients.

Growth Strategies for MSPs:

• MSPs should focus on organic growth, with 60% coming from existing clients.
• Many MSPs hesitate to raise prices, especially for long-time clients, which impacts their profitability.
• Carrie advises reading The Pumpkin Plan for MSPs by Dave Cava, a book on pruning lower-value clients and raising prices to sustain business.

Key Points on Business Development:

• MSPs should focus on delivering value when raising prices, ensuring service levels match pricing.
• Carrie advises eliminating low-paying, high-problem clients to foster better growth.

Carrie’s Personal Insight:

• Carrie shares how she stepped back from her business after her team identified her as a threat during a SWOT analysis.
• She emphasizes the importance of trusting the executive team and letting them operate independently.

Common MSP Concerns:

• Security, human capital, and growth are the top three concerns for MSPs.
• Carrie notes that paying employees well and investing in ongoing education are essential for sustainable growth.

Private Equity and MSPs:

• Carrie discusses how private equity involvement can affect MSPs, both positively and negatively, depending on the owner’s goals.
• Some MSP owners prioritize exiting with significant financial returns, while others care more about the future of their team.

Conclusion:

• Carrie encourages MSPs to embrace the idea of building profitable businesses without shame.
• She reflects on her personal sacrifices and stresses the importance of creating a legacy.

This interview offers valuable insights into MSP growth strategies, the importance of discipline, and the challenges faced by business owners in the tech industry.

Check out Carrie’s podcast appearance – and many other MSP expert interviews – on the Joey Pinz Podcast here:

#433 RoarCon 2024: 🔍 Key Strategies for MSP Growth with Carrie Lynn 🔍

New Joey Pinz episodes drop every Wednesday – you might say that Joe is very DISCIPLINED in his approach to publishing his podcast.

Interested in chatting with Carrie?  Book a call with her here!