How To Grow Your I.T Business To $100,000/Month And On Auto-Pilot.
Do you want to run a $100,000 per month I.T. services business?
Do you dream of it running on auto-pilot without your input?
Imagine for a second how it would feel to:
Having your staff being able to onboard new clients.
Sales staff that can attract, get and close new clients for you.
A technical team that delivers great service from end-to-end.
A capable G.M. to run day-to-day operations for you.
Having an assistant to handle all routine admin work and,
Seeing consistent 50%+ net profit margins on top of all that.
That vision can be difficult to fathom if you're a one-person band or have a small tech team.
But it is 100% achievable.
You can have a lucrative technology business that runs on autopilot. One that allows you to spend more time with friends and family, pursue outside hobbies, and travel at will.
Many people are slaves to their businesses.
They work hard for little in return.
Turning over $100k per month is beyond the realms of possibility. It's either: (A) unrealistic or (B) requires an incredible amount of work, effort, and sacrifice.
But these are false beliefs.
Point B is untrue because how you deliver value to a client is independent of your level of work, effort, or sacrifice.
That's contrary to what most owner-operators think.
Many are stuck in the mindset that your income is tied to the number of hours you work. And, to make more money, they must work more hours.
But that's untrue in business.
The value delivery mechanism is negligible in business. So, it does not matter if you are the one to deliver a valuable service or not.
You can have someone else do the work for you, provided they have the necessary skills and expertise.
Many business owners complain that:
"People only what to deal with me."
Well, of course, they do...
You provide the most value to them currently.
You have more skills, expertise, and knowledge than anybody else in your business. You gain more and more experience with each project that you work on, also.
But, if you are serious about scaling up, you must de-couple yourself from your business.
That means building a system to get work done through others.
The purpose of a business is to provide value to customers.
Your commitment, energy, and personal involvement are negligible. All that matter is the value that is provided. It does not matter if your product or service takes 10,000 hours to deliver or 10 minutes.
So, the amount of hours you put in is not essential. You can have someone else put in that time and derive the same amount of value.
That's one challenge the entrepreneur faces scaling up.
But, there are many other challenges, also, such as:
"Don't know how to grow revenue"
"Don't know how to get new clients"
"Don't know how to scale up the business"
"Don't know how to grow to $1,000,000 per year"
Can you see the similarity between all these challenges?
They don't know how to do it.
There's a lack of knowledge, in other words.
Knowledge is scientia, from where modern languages get the word science. It comes from the verb scire, to know.
So, the solution is to get knowledge, to know what to do.
The best place to get specific knowledge is through personal mentorship. It's better than learning from books or video courses, as there is an avenue for you to get feedback. That direct feedback will ensure you advance and refine the skill you aim to learn.
And it's essential to learn from someone who has already solved the problems you are trying to solve.
So, you know that you need to get knowledge to grow your I.T services business to $100,000 per month.
But what knowledge do you need?
There are five categories where you need to focus on:
Offer creation - to build profitable offers.
Sales - to convert leads into paying clients
Operations - to get work done through others
Marketing - to understand how to attract clients
Service delivery - to deliver a service that satisfies clients.
The lion's share of your business problem on the road to $100,000 per month will revolve around those main areas.
4 Focus Areas To Scale Your I.T Services Business To $100,000 Per Month (And Have It Run On Autopilot, Too)
1. Lucrative & Scalable I.T Services Offer
Your offer is essential to grow revenue in your I.T services business to $100k per month. Your offer must cover all your overhead costs to run your business. Then, there must be enough left over to see healthy profit margins.
These profit margins will allow you to:
bring onboard new staff to free up your time,
fund marketing initiatives to attract new clients,
improve your brand and online presence, and,
attract/convert clients better.
Focusing on creating a better offer allows you to work with better customers I.e., more quality customers in established businesses.
So, it will disqualify all the penny-pinchers. That's a good thing, as they are often the ones who often undervalue what you do.
So, there are many positive knock-on effects of charging premium rates for what you have to offer. But, there are equally negative consequences of not charging enough.
For instance, being stuck doing all the work yourself as an owner-operator. And not being able to focus on other essential aspects of growing the business. Namely, sales, marketing, and other activities that revolve around growing the business.
2. Effective Marketing & Lead Generation Strategies.
People overestimate the importance of sales and underestimate the importance of marketing. If you market well, clients will be ready to buy from you by the first meeting.
How? Because they've seen your content and "know, like, and trust" you already. All the questions about your services, how you work together and so on, will have been answered.
Either via your website or otherwise.
So, it's essential to use effective marketing strategies, as they allow you to:
attract new clients to your business,
pre-educate them about what you do, exactly,
allow them to "know, like and trust you" from your content, and,
pre-frame them before they speak with you in person.
A good marketing strategy will be the intersection of:
what you can do consistently,
what has the most significant impact (reach, leads, sales, clients),
the least amount of time,
least capital,
that your skills allow you to execute on.
3. Best-in-class Customer Experience And Service
The best marketing is a client telling others of the great experience they have had working with you.
You can achieve that by over-delivering for clients.
How to deliver a great customer experience and service:
Deliver the results you promised (and then some)
Deliver before deadlines
Respond quickly I.e., Answer all emails, calls, and support requests
Be friendly and positive
Inject positivity and good energy
Provide simple solutions.
Be efficient. Provide clarity amid complexity.
Be reliable and there, always
Personalize your service.
I used to think that business was all about sales and customer acquisition. I considered that all that mattered was growth above all else. But, it resulted in weak growth, tight profit margins, and up-and-down revenue months.
The secret to steady, compounding business growth is delivering excellent customer outcomes, as it leads to:
Greater repeat business and recurring revenues.
Opportunities to offer more services to existing clients.
More referrals through happy customers.
4. Operational maturity & scalable business infrastructure
Most I.T businesses start with the owner providing their expertise to a client.
That experience is from a 9 to 5 job, more often than not.
As far as operational maturity goes, that's level zero, or the lowest level of operational maturity a business can have.
It's the owner-operator with specialist knowledge doing the work for the client.
To grow beyond a one-person business, getting work done through others is necessary. That frees up the owner's time. That free time can be used to focus on growth activities to speed up the business's growth even further.
That allows the business to handle more clients.
It's not constrained by the number of clients the owner-operator can manage.
And, because the business can handle more clients, the company to make more money, also.
I hope that you got value from this article.
To your success!
- Kieran
A Final Word…
Do you want new clients for your I.T services business? Then, join our free I.T business owners' Facebook group, where we cover best strategies to get new clients and increase revenues for your I.T business. Here’s the link to join: https://www.facebook.com/groups/growthstrategiesfortechfirms/