Transcript
I'm going to go through it a little bit more quickly, but again, this bootcamp is being recorded. If you want a copy of it so that you can kind of go back and just look and listen to me again, talk about the calculator as you're going through it for your own homework, just put bootcamp to in the question panel and I'll be sure to get a copy of this over to you. So moving on to the advanced security program. Again, this is what I consider kind of being the best program because I'm not a fan of the good, better, best. We have our good and now we have our best, and this is really any the target audience for this type of client or for this type of program is anyone that's in a regulated industry. If you have customers that are regulated, they are compliance standards that they have to adhere to. This is the program that they should be rolled in because they're the ones that are going to have a more significant breach impact. Their return to operations objectives are much higher. So if there is going to be some sort of breach or some sort of attack, you need to be able to have the data that is needed to be able to give to those forensic analysts to try and figure out how did it happen, how did it occur, why did it happen and what's needed to make sure that this doesn't happen again. So looking at the advanced security program, again, we're going to focus on the line card, the yellow line this time. Your average labor rate, it might be different because maybe you have more expensive people that are going to be managing this program. Maybe you have cybersecurity analysts, SOC analysts, because maybe you're using your own SOC as opposed to our EnableMDR. And you just have to adjust that labor cost to reflect your true fully burdened cost for your more highly skilled people. So looking at the advanced program, looking at the managed server, the agent column here, this is where you'll see managed server, managed network, managed workstation. This is where I'm doubling up here. So this is the cost of your RMM. So whether you're using Insight or whether you're using Incentral, but I've also built in the cost of the Sentinel One's ranger license to this. So I've had to kind of double up because the reason is with this level of program supporting the types of customers that we are, we want to have the ability to be alerted whenever there's a new unknown device that gets added into the network. If there's any sort of IoT device, camera system, that type of thing. So because you need to be alerted to this so you can find out whether you're going to approve or block this device from the network. Because again, especially at this level for these types of high risk organizations you're working to protect, you can only protect based on what you know about. And so if there are devices in the network that you don't know about, then that is going to open up risk to both you and your customer. And so we're including the Sentinel One ranger license to help mitigate this risk. Also again, on the managed workstation line, if there's an M365 license user cost, we would add that in as well. And then next door, EDR, MDR, other security, again, I've had to double up my apologies, but this is where we are including the cost of the Sentinel One EDR, but we're downgrading it to the control license because we no longer need vigilance. We don't need the deep threat hunting because we're adding in the Enable MDR license along with the 365 day data retention cost as well. But again, if you're using a different EDR, if you're using a different MDR product, then just put in those costs as well. These are the costs of our new Enable MDR. Because with the advanced security program, we are taking care of monitoring, supporting threats across the entire network, not just the endpoint, like what the Essentials program is focused on. The Essentials program is really for the endpoint, for the end user. With the advanced security program, we need to be able to monitor cloud services like AWS, Google, Azure. We need to be able to monitor the network traffic. We need to be able to monitor the firewalls, the VPNs. We need all that data and all that visibility, and so the MDR service provides that. And then the risk assessment, vulnerability management, again, whatever tool sets you are using to deliver that. I don't have a tool set to offer you, so it's zero, but you would put in the cost of your sets for that. Looking at the backup, M365 backup, this is where we are including the M365. We're also including the standby image fee, the recovering cost, because again, this is for our cove product. So for the server, backing up the server, we're adding in the recovery testing, the standby imaging so that we have that. And then for the workstation, we're upgrading it from the documents and putting the complete professional workstation license on that, along with the M365 license as well. But again, whatever backup product that you're using, if you're not using cove, just put in your cost there. Mail protection archiving, again, same as before, we're putting in our mail assure, we're putting in our DNS filtering, we're putting in our pass portal, but those are our products, anything that you have to deliver that service or deliver that feature, you put in your cost. So that gives us our software costs for the servers, the networks, and the workstation. Then we need to move on to the time, so how much time do we need to build into this program? So again, looking at our three buckets of labor, our preventative maintenance, our remediation and consulting. Again, with preventative maintenance, this is all the routine maintenance that we need to do on each of the devices every month. So mend that based on how automated or not as automated that you are. The remediation tab, this is where we are including or we have to budget for time because this is an all-inclusive program, all you can eat, fully managed, whatever terminology you want to apply to it. So we need to guesstimate how much time to budget in for all of that unexpected work because we can't go back and bill additionally for that. So we need to figure out how much help desk calls can we expect, how many emergencies can we expect, how much time will we need to hop on the phone and deal with another vendor for that on behalf of our clients. What are any of the small tasks that are enable MDR? There's a human intervention piece. So they're going to handle a lot, a lot, a lot of the work. But if there is kind of a little, little pieces that have to be left that they can't handle, so they're going to give you their recommendations that you have to go and then implement. We want to build in time for that as well. So this is where you might have to guess, do your educated guessing, but keep track so that when you do future program pricing, you can be a little bit more realistic or for this particular customer at renewal, if you knew your pricing estimates were off, you can go back and check the tickets, check the time that you were doing, and you might need to make some adjustments that way. And then again, the consulting time, we made some changes to this one because we're doing monthly risk assessments now in the advanced program, advanced security training. So this is where I really am seeing you're engaging with a company like breach secure now or you're engaging with somebody like know before a company like that, and you're building in their costs into this. And then your quarterly executive review, again, with a customer at this level, we're increasing the level of engagement with them. So we're going to meet with them four times a year. So there's going to be some prep and delivery time that we have to factor in as well. And then we have our other costs, but again, we don't have any other costs. There's no other appliances that we need to incorporate in. So this gives us our tool costs, which is our software costs and our other labor costs. Again, column S, this is where we enter in our price per device. And this is the thing that we play around with based on whatever desired margin that we want. So again, I'm still sticking with the 62% margin, but I have seen, especially for this level, 70, 75, 80% margin I've seen MSPs put in because there is an incredible amount of value and a lot of risk that you're taking on supporting customers in these type of regulated industries. But just based on the 62% margin goal objective, to get that on our server and backup, we need to charge $3.92 a month. To get 62% on our network, we need to charge a network price of $1.08. To reach 62% on the desktop, we need to charge a price of $1.39. But again, these are not prices that we quote to our customers. We just need to price it out this way so we can translate that into a per user basis for our proposal. So now going to our selections tab, this is where we put in the individual customer requirements that we're going to be covering as part of this program because we're putting a proposal together. So we have, in our example here, we have a 30 user organization. There's a firewall router, a couple of servers, and then our monthly risk assessment, advanced security training, and quarterly business review. We need to make sure we have ones in there because we need to turn it on so that the costs get incorporated into our final fee. And then kind of going back to the quote tab again, the last one, you'll see that for our 30 user organization that has a couple of network devices, a couple of servers, it's $5,600, you know, $5,618 per month. You can see that we are still getting our 62% margin. That is our objective, should be higher, but we'll go with 62%. And so this works out to being $187.27 per user per month. But again, we're missing some pieces, right? We're missing some software pieces. This program, I really should see at a minimum $200 per month, but I've seen partners charge 280, 290. There was a partner this morning on our call, he charges $360 per month. I've seen it as high as 400. But at a minimum, I think if you're charging 225 for a program like this, I think that's a good place to start. If you have never done anything like this before, because you might be sitting there going, I can never get that from my client. And if you're thinking that, then make sure you register for my next week's bootcamp where I'm going to give you some strategies on how to get that with your customer. And then go back and listen to last week's bootcamp that will hopefully give you the confidence that you can charge that much for this type of program because of the risk that you're taking on as their MSP. Also, we have just 62% margin in here. As I was mentioning, I think that's kind of low. What I would also attempt to do as a best practice is every time you sell this program to a new customer, the next time that you have to put the quote together, make the margin go a little bit higher. Work to continually increase your charge to your customer so that you can see what the market will bear. So if it's 62% this time, maybe next time you try and get 63% or 64%. Incrementally every time, raise your prices so that you can really work to increase your average deal size and the MRR that you're generating from your customers every month.
