98: Join an Industry Peer Group with Steve Alexander

Steve Alexander is the CEO of MSP-Ignite, an organization that helps managed service providers achieve maximum equity and recurring revenues through facilitated peer groups. We talk about the benefits of being part of a peer group, the recurring revenue model’s impact on business valuation, and how to maximize your profit margins as an MSP.

 

Time Stamps

[00:30] Steve’s entrepreneurial journey

[01:54] What is an MSP?

[07:10] How Steve launched his first business advisory group

[07:53] Mastermind groups and how they operate 

[11:13] Top tips for building trust in a mastermind group

[13:53] The difference between project revenue and recurring revenue 

[16:22] How to build a recurring revenue business model

[20:44] Why you should consider joining a peer group

[23:38] The main reasons why people join and stay in business peer groups

[25:10] A glimpse into what a typical peer group meeting looks like

[28:21] How to deal with an unmanageable peer group member

[31:34] The subtle art of managing efficient mastermind groups

[37:32] Steve’s process of onboarding new peer group members

[38:59] How to maximize your profit margins as an MSP

[41:47] Parting thoughts

[43:04] How the recurring revenue model has evolved over time  

 

Links and Resources

Steve and Greg Cleary’s New Book: Pinnacle: Five Principles that Take Your Business to the Top of the Mountain

Steve Alexander’s LinkedIn

MSP-Ignite.com