How I added $98k MRR of IoT managed services in 6 months
Have you been interested in IoT, but not sure how to make money with it?
A few months back I recorded a conversation with Luis Alvarez, an IT business owner, who let me in on his secret recipe for making money with IoT.
He shares how he stumbled onto the opportunity, perfected it, and then shares three IoT managed services that are making him over 7-figures of recurring revenue right now.
These are IoT managed services you can and should be selling right now in any market.
In fact, my conversation with Luis is the reason I decided to launch IoT Playbook, a new podcast designed for technology business owners to help them grab their share of this $500B IoT managed service opportunity.
So, if you’ve ever wondered how to make money with commercial IoT or, if you’re an IoT vendor who wants to build out a channel, then go to freeiotclass.com, where I’ll show you the actual Playbooks, IoT managed service providers, like Luis Alvarez, are using to make 7-figures or more recurring revenue right now.
What You Will Learn:
- How angry seniors helped him Luis discover an IoT
- How Luis was able to sell an IoT monitoring & alert service to 189 clients that generates nearly $98k in MRR.
- How Luis sells a real-time alerts system to his banking clients using the same platform
- How Luis sells a video management service to his Cannabis clients and how
- How to profit from highly regulated industries.
Beyond Traditional MSPs
Luis Alvarez is the owner of Alvarez Technology Group, an MSP that serves around 200 clients. The company specializes in the agribusiness and cannabis industries and built its reputation working with PCs and servers. However, Luis saw an opportunity that was hiding in plain sight. As you know, MSPs are traditionally focused on the hardware and devices that users need to do their work. But what about the networks behind all of that? Integrated network monitoring was a service that most MSPs were not offering, so Luis capitalized on the deficiency.
As it turns out, there is a lot of money to be made monitoring those networks. So, Alvarez Technology Group began offering the service on a whim when one of its clients was called about persistent WiFi issues. Despite the fact that network monitoring was not on the menu, Luis accepted the challenge without hesitation. He came up with a number on the spot and designed the entire program around a price point of $480/mo. Now, it is a flagship package that turns up an additional $1M in revenue each year.
Save Money and Increase Revenue
There is a lot of technology beyond traditional RMM tools. But most of it is not good for managing IoT. So, once Luis found a capable tool that fit his needs, he could collect a staggering amount of information. Luis’ team deploys the tool, maps out the network, and identifies all of the devices to make sure they are properly configured. After that, they can see everything that is happening on the network. That means troubleshooting faster, solving network problems more efficiently, and rolling fewer trucks with quicker turnaround time.
The new process enables them to upsell current clients and increase their offerings to new ones. In booming industries like agribusiness and cannabis, there is a significant focus on automation. But they rely more heavily on tablets, camera systems, and other technology than they do on PCs and servers. Alvarez Technology Group is meeting that shift in demand head-on. And they are helping progressive businesses integrate their network and technology management into one program.
About Luis Alvarez
In less than a decade, Luis Alvarez has grown the Alvarez Technology Group, Inc. (ATG) from a small two-person consultancy to the premier information technology (IT) solutions provider on the California Central Coast, delivering IT services to more than 200 companies throughout the state. A visionary who never shies away from exploring exciting new technologies that might give his clients a competitive advantage, Luis specializes in working with executives and managers of small- and mid-sized businesses, sharing his expertise by advising them on trends, analyzing their systems for improved performance and planning how IT can help achieve their business goals.
Luis is considered an expert in business process flow and the integration of IT for maximum profitability. He led the industry towards a managed services model, an operational strategy that allows ATG to offer continuous monitoring and management of client IT infrastructure at an affordable price point. Luis designed the iTeam service delivery system based on this managed services model.
Luis has lived and worked in the Monterey Bay area since 1986, after 21 years of combined active and reserve duty with the United States Air Force. While in the Air Force, he served in various command positions including the Air Force Information Warfare Center/Air Force Computer Emergency Response Team (AFIWC/AFCERT) and the Defense Intelligence Agency.
Luis has been received numerous accolades and awards, most notably landing on the MSPMentor 250 list every year since its inception as well as leading the company to an appearance on the Inc. 5000 Fastest-Growing Private Companies list in 2011. He also recognized as a community leader, serving on the board of numerous non-profits, including the Monterey Jazz Festival, the Rotary Club of Salinas and the Monterey Bay Area Chapter of the American Red Cross.
How to contact Luis Alvarez:
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