Key Acronyms
MSP - Managed Service Providers package technology solutions into a predictable monthly amounts.
vCIO - Virtual Chief Information Officers are people who align technology strategy to the goals of the business.
QBR- Quarterly Business Reviews is a process done quarterly or yearly to review client risks and create a strategy.
What else? - Please use the chat in the bottom right to submit any other questions.
vCIO Best Practices
How many TSMs a year?
A good baseline is meet with clients the number of times year based on how many thousands they pay a month. Example
- If client pays $1,000+ a month, meet with them 1 times a year
- If client pays $2,000+ a month, meet with them 2 times a year
- If client pays $4,000+ a month, meet with them 4 times a year
- If client pays $12,000+ a month, meet with them 12 times a year (And maybe a weekly standing status call)
-Its not a hard rule but just a guideline we follow in our MSP to set targets for # of yearly meetings. Major deviation from these guidelines have proven to indications of client relationship or technology risk increases.
One vCIO should be able to handle roughly 100k Managed IT Agreements
- Its not a hard rule but one vCIO should be able to handle 80-120k in managed revenue.
- Please note the when we say "Managed IT Agreements" we are not referring to 3rd Party Cloud product resale (Examples: Office 365, hosting, Azure, Datto, etc). Only what you bill for managed users/computers.
Have a vCIO board and bill toward agreement
- You should have a dedicated service board for your vCIO
- The burden cost of the vCIO and the board should be hitting your Managed Agreement profitability. It is a service you provide. Do not treat it as a function of sales.
Invest in your vCIOs
- The vCIO is one of the most powerful and impactful team roles in your MSP
- Teach your vCIOs about business. Level them up.
- Send them to conferences
- Give them whatever tools they need for success
- Invest in your vCIOs!