How I've Grown My MSSP Business 400% Per Year by Adding a High-ticket IoT Managed Service for High-end Home Owners - Guest: Mike Bloomfield, MSSP
Custom electronics professionals are building multiple streams of recurring revenue with their existing clients.
For years, we’ve listened to custom electronics professionals (CE Pros) complain that homeowners will not pay for a monthly service contract to manage their home devices. In the latest episode of IoT Playbook, we discovered the cure for that problem.
In this episode, IoT Playbook spoke with Mike Bloomfield who has grown his business by 400% per year by selling a business-level security managed service to homeowners.
In our interview, Mike reveals the 3 secrets to making a high-ticket IoT managed service with homeowners including: the minimum square footage home that he will service; the managed security service he delivers at the home level; and how starting with managing IoT at the homeowner level has doubled his IT managed services for his business clients as well.
So, if you’ve been wondering how to sell a high-ticket IoT managed service for home and business, this episode is designed just for you. Head on over to podcast.iotplaybook.com, where we’ll show you the actual Playbooks IoT managed service providers like Alan Weinberger and Mike Bloomfield are using to make 7-figures or more of recurring revenue.
What You Will Learn:
- Why you will see significant returns as a member of ASCII
- How Mike Bloomfield grew his business by 400% per year selling a business-level security managed service to homeowners
- The 3 secrets to making a high-ticket IoT managed service with homeowners
- How to build multiple streams of revenue with your existing clients
Find Your IoT Niche
The vast IoT universe encompasses a wide variety of different niches, each extremely competitive. But the benefit to that is you can thrive as a highly-specialized IoT and managed services provider. Mike Bloomfield of Tekie Geek is a testament to that. Mike is a member of The ASCII Group, which was founded by Alan Weinberger. ASCII helps MSPs take advantage of leveraged purchasing programs, education and training, marketing assistance, extensive peer interaction, and more.
Since 2012, Tekie Geek has provided professional IT services and support to businesses in Staten Island, NY, and the surrounding areas. The commercial side of Mike’s work is cut-and-dry. But more recently, Mike has gotten into the residential side of the industry by essentially combining the offerings of CE pros and MSPs. If a CE (custom electronics) pro comes in to do a home theatre, they complete the project and leave the picture. But Mike introduced a managed services element and changed the game.
A lot of these operations are extremely complicated, especially in larger homes where there can be up to fifteen routers to support the various entertainment systems and smart devices. So, keeping everything up and running is a priority for Mike and his team. There is a fine line when it comes to maintenance because he won’t touch residential computers unless it belongs to a client. However, they still cover inquiries for anything that is on a business-type of application.
Tekie Geek installs routers that they can maintain and monitor, and they use remote rebooters so they can perform hard resets without rolling trucks. That technology enables Mike and his team to be more proactive with their troubleshooting and provide a higher level of security. This market is not used to charging a managed service fee, and the more prominent clients can be north of $1000 per month. But again, you can thrive with a highly-specialized business model if you are doing quality work.
Residential and Commercial Crossover
Mike brings business-class technology to the residential space for wifi, networked audio, access control, home automation, and a lot of other things. On business IT, Mike gets more profitability on his recurring revenue. On the residential side, Mike sees a lot more profit upfront. However, there is a lot of crossover because these types of projects can produce new opportunities as well. A lot of the people who can afford to optimize their residential IT are business owners, and Mike has turned numerous residential jobs into business accounts. That is yet another way that an MSP can thrive in a unique niche. So, if you want to hear more from Mike, listen to my episode, Residential IT Optimization, with Alan Weinberger and Mike Bloomfield.
About Alan Weinberger and Mike Bloomfield
Alan Weinberger founded the ASCII Group, Inc. (ASCII) in 1984 with 40 computer dealers. It was the first neutral, industry “Community Network” of independent computer resellers. He has successfully run the company for over 35 years as its CEO and Chairman of the Board. The original model has now expanded to over 70 programs that benefit MSPs and solution providers throughout the United States and Canada – all tied together in a singular network. ASCII promotes the independent solution provider as the best advisor for businesses to learn from and purchase IT products and services.
Alan also founded TechnologyNet, Inc. a B to B marketplace in 1996 for the entire IT industry. Earlier in his career, Alan founded The Moscow Business School of Commerce Advisory Board at the time of the downfall of the Soviet Union. Alan also was the first Professor hired and helped found a Law School that many Harvard and NYU Law Professors have taught at over the years: Vermont Law School. Mr. Weinberger has a B.A. and J.D. degree from NYU, and an LL.M. from Harvard University.
Mike Bloomfield is the President Geek of Tekie Geek, a Managed Service Provider based in Staten Island, New York. Mike is Staten Island’s most trusted IT Advisors, with a passion for Business Continuity, CyberSecurity, IT Infrastructure, and IoT. Mike can regularly be found published in numerous IT Publications or on the speaking circuit.
Mike has had a passion for technology since an early age and has continued to push forward and ensures that he is always in the forefront of all technological advances. When Mike isn’t focusing on his business, he’s spending time with his beautiful wife and daughter, who give him the drive to keep going. He’s a true geek at heart and it becomes quite obvious when you start to talk Game of Thrones or Star Wars with Mike. Mike is also a proud Kiwanian and sits on a number of committees and boards throughout the local Staten Island community.
- Mike Bloomfield:
- Alan Weinberger:
More IoT Playbook Resources:
- Learn How to Get Started With This Free Online Class: www.freeiotclass.com