Extra profit matrix

Your “extra profit matrix” (so exciting you’ll want to lick it)

Paul Green Uncategorized

Here's something that will take 20 minutes to do, and could easily add thousands of pounds of extra profit in time for Christmas.

Launch Excel, list everything you sell at the top, and every single client down the left hand side. Like this:

Extra profit matrix

Then run down the client list, and make the cell green where they don't buy a service from you.

Bingo. You just identified where to get some extra profit from.

In the example above, Bob Smith doesn't have proactive monitoring or any kind of AV. Maybe he's getting it from somewhere else. Maybe he thinks AVG Antivirus Free is good enough.

He has basic backup. But maybe he'd like triple protection backup.

There's only one way to find out what Bob wants. And that's to ask him about his business (in the right way) and tell him what's on offer. He'll decide what he needs or wants.

It's always more profitable to sell more to existing clients, as you don't have the cost of initial customer acquisition.

And weirdly people who choose to buy more from you, are likely to be happier. Because you are fulfilling their wants and needs.

Many of my MSP clients are doing this. One has taken three clients to lunch so far. All three bought extra services. Generating £1,200 a month of new recurring revenue, and about £10k of project revenue (engineer time, not hardware). 

He's fairly motivated to get the rest of his 100 clients out to lunch...

This subject - quickly making more profit - is the focus of day one of my Profit Accelerator. I have one place left for a group that starts in January, then I'm closing Profit Accelerator and won't be repeating it (my reasons and full details are here).

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