Here’s How to Double Your Margins This Year: Cyber Learning

Power Up by Empath Cyber

In today's rundown:

•  🧠 Here’s How to Double Your Margins This Year: Cyber Learning

• 🔥 Cyber Learning MUST BE a Top Priority For Every MSP!

Read time: 3 minutes 👇

Here’s How to Double Your Margins This Year: Cyber Learning

That’s what a large peer group leader just told me this week. So they’re all in. (Also this peer group is attached to a vendor who sells things… which means that they win when you learn.)

Here’s the dirty secret: pretty much every vendor in the MSPverse is on a mission to help MSPs learn. And it’s not altruistic at all. They’ve learned this secret:

When an MSP learns and grows, vendor revenue grows too. They have a lot of money to make when you successfully grow. There’s nothing wrong with that. And the flip side is true too: when MSPs aren’t learning, vendors know they’re missing out on revenue. That’s stagnation.

But there’s also a few problems.

First — the vast majority (I’d estimate 80%) of MSPs don’t have any formal process, capability, or determination to help their employees learn and grow.

Now hear me before you call me out. You might say: “But Wes, we train our folks!” There’s a difference between training and learning. They aren’t the same. Here’s how one expert explains the difference:

“Training is the giving of information and knowledge in a manner that instructs the trainee. Learning is the process of absorbing that information in order to increase skills and abilities and make use of it under a variety of contexts.”

So which are you doing? Not all training is learning. And learning takes effort, tenacity and accountability.

Second — many MSPs aren’t intentional enough when it comes to learning. It requires the MSP owner to say:

“Hey all, we’re setting a line in the sand. I want everyone to be accountable to at least an hour a week to learn. To make sure you do that, here’s access to a platform with amazing community and content. On top of that, we’ve created a new service board ticket for learning. I want everyone (including myself) to complete a 1 hour ticket on learning each week. We’re all holding ourselves accountable here.”

Woah. That’s huge. In fact, Seismic says that organizations that make strategic investments in learning report 11% greater profitability year-over-year. That’s a big deal.

Cyber Learning MUST BE a top priority for every MSP!

Some of the statistics coming out around the investment in learning are staggering:

• 76% of employees are more likely to stay with a company that offers continuous training

• 55% say they need additional training to perform better in their roles

• 38% advise companies to align training with job responsibilities

• 32% believe training should be both more social and updated more frequently

So if revenue is directly tied to learning for an MSP, and employees value learning as much as anything else in the organization, why wouldn’t this be a top priority for MSPs?

Given that channel vendors are ready to pour millions of dollars into learning and community in 2023 and 2024, it’s probably time that MSPs truly begin to make cybersecurity learning a mission critical priority now.

I’m curious to hear from you. How is your MSP doing around this priority? Have you determined that learning is paramount to success in cybersecurity revenue growth? Drop me a comment by hitting reply! I would love to hear your thoughts.

And lastly, if your MSP is interested in cybersecurity growth everyone in your company, check out what we’re doing at https://www.Empathcyber.com/join today. Empath approaches learning agnostically. We dive into learning through workshops, group discussions, community, courses and so much more.

That's all for now!

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