In this episode of the Beyond the Horizons Podcast, Pete Roythorne speaks with Troels Rasmussen, GM of Security at N-able, about the increasing demand for cybersecurity solutions among MSPs. They discuss the evolution of security technologies such as EDR, XDR, and MDR, and the importance of 24/7 coverage in today's threat landscape if MSPs are to be able to help their customers build resilient businesses. Troels emphasizes the need for MSPs to change their mindset when selling security to customers, highlighting the role of compliance and the cost of cybersecurity as a business necessity. The conversation also touches on the future of cybersecurity, including the impact of AI and the importance of ongoing investment in security measures.

Takeaways

• 81% of MSPs expect growth in cybersecurity solutions.
• EDR and MDR are key technologies for MSPs.
• 24/7 security coverage is essential for effective protection.
• MDR allows smaller MSPs to provide enterprise-level support.
• Security should be viewed as a core business function.
• Compliance is driving the adoption of cybersecurity measures.
• Understanding the cost of downtime is crucial for businesses.
• Co-managed services enhance the capabilities of MSPs.
• AI will play a significant role in future cybersecurity efforts.
• Investing in security is an ongoing necessity for businesses.

In this episode, Stefanie Hammond, N-able Head Nerd for Sales and Marketing, talks to Pete Roythorne about her new Selling Security Digital Playbook—Defend and Prosper: Maximizing the Cybersecurity Opportunity—which focuses on giving MSPs a step-by-step guide to building, pricing, marketing, and selling security services. During this conversation she emphasizes the importance of understanding the target market and their needs, as well as the value of bundling security services instead of selling them as individual tools.

Stefanie also highlights the significance of conducting cyber assessments and using frameworks like NIST to guide security practices. She provides guidance on the go-to-market strategy, including upgrading existing customers and using resources like Market Builder. Overall, the conversation offers valuable insights and actionable advice for MSPs looking to enhance their security offerings.

Additional resources Download Stefanie’s Selling Security Digital Playbook—Defend & Prosper: Maximizing the Cybersecurity Opportunity

Read Stefanie’s blog A Quick MSP Guide to Pricing Security—With a Focus on N-able MDR

Key takeaways

Understanding the target market and their needs is crucial for selling security services effectively.

Bundling security services provides more value and helps avoid selling security as individual tools.

Conducting cyber assessments and using frameworks like NIST can guide security practices.

Upgrading existing customers and using resources like MarketBuilder can enhance the go-to-market strategy for security services.

In this episode, Pete Roythorne and N-able’s Business Development Director Matt Takhar discuss the importance of getting your house in order for mergers and acquisitions (M&A) in the MSP industry. They highlight the increasing trend of M&A deals in recent years and predict a continued rise in the future. They explain different valuation methods, with a focus on EBITDA-based valuations. They emphasize the significance of factors such as recurring revenue, client base, operational efficiency, and growth potential in determining the value of an MSP. They also discuss the benefits of joining peer groups and seeking outside help when navigating the M&A process.

takeaways

• MSPs need to get their house in order for mergers and acquisitions (M&A) by being aware of market indicators and transforming their business accordingly.
• Valuation methods for MSPs include market-based valuation, income-based valuation, and EBITDA-based valuation.
• Factors that influence the value of an MSP include recurring revenue, client base and retention, service offerings, expertise, operational efficiency, and growth potential.
• Joining peer groups and seeking outside help can provide valuable insights and support during the M&A process.
• Merging two companies requires careful consideration of culture, communication, and managing change.

Disclaimer: This podcast provides educational information about issues that may be relevant to information technology service providers. Nothing in the podcast should be construed as any recommendation or endorsement by N-able, or as legal or any other advice. The views expressed by guests are their own and their appearance on the podcast does not imply an endorsement of them or any entity they represent. Views and opinions expressed by N-able employees are those of the employees and do not necessarily reflect the view of N-able or its officers and directors. The podcast may also contain forward-looking statements regarding future product plans, functionality, or development efforts that should not be interpreted as a commitment from N-able related to any deliverables or timeframe. All content is based on information available at the time of recording, and N-able has no obligation to update any forward-looking statements.