Dr. Burry was the primary visionary who predicted the Great Recession, shorted the housing market and earned millions in the process. However, he didn’t experience a straight line for the inception of his idea to success. Quite the opposite, he was faced with disbelief from all sides, all the time and throughout his entire quest. What MSP marketing lesson can we learn from Dr. Burry’s journey through the trials and tribulation of Wall Street to receiving untold riches?
Check the Facts
Dr. Burry read the mortgage agreements and reviewed the tranches of individual mortgage applications and payment history contained within the infamous CDO. This in-depth research is something not even the lawyers or the banks took the time to do which means Dr. Burry really took the time to check the facts and make sure his idea was solid.
Before an MSP goes off half-cocked marketing their IT services model they should check their facts by attending trade shows, evaluating vendors and thinking like a customer. To make sure that the model you’re going to roll out is a winner you should conduct market surveys and get actual end user reactions to your exciting new MSP model.
Once you have checked your facts and know you have a hot new IT solution that the market will find exciting and affordable then you’re ready to launch. Once you’ve checked these boxes then you would have checked your facts just like Dr. Burry did before making his historical short of the housing market.
From the very beginning of Dr. Burrys journey, it was apparent that he would be standing out in the middle of the wilderness with his cry that the financial sky was falling. This means that everyone including many of his own investors were against his macroeconomic predictions. However, he had the balls to still bet most of the funds he managed on his belief that a financial Armageddon was coming!
When you know in your gut that you’re sitting on a winning MSP business model then it’s time to spring into action!
If you Can’t Take the Heat, Get out of the Kitchen
His primary investor and mentor dresses down Dr. Burry with insults, threats and demands. He sees his resources dwindle as he makes ever increasing payments on his Credit Default Swaps. His staff levels continually decline until at the end he is left all by himself in a huge office. Investors continually sent threaten emails and the banks tried to get off the hook from paying off his windfall of cash.
MSPs can learn that if you are a true believer in your managed services business then you should be prepared for all sorts of up and downs as you grow the company. During these trials, close friends and business partners may tell you to give up and the financial picture may look grim at times. However, if you did your homework, have a solid model and are all-in then you should simply hang in there. Keep your mind focused, like Dr. Burry, on the end game and you will reap a windfall of managed services agreements.
About our Contributor
David Walter is the Marketing Director at MSP SEO Factory, a company providing IT marketing to businesses in the United States. Their expertise is creating managed services marketing ideas and turning them into original, optimized blog posts. Their process involves in-depth brainstorming, thorough editing, and effective promotion of fresh and unique articles for their MSP Business clients.
He has 16 years experience in marketing for the IT industry, as well as experience in direct MSP marketing, internet marketing, article writing. David speaks at trade shows, webinars and is a sales trainer for major IT companies. He is also a published author; his latest book is ‘Stratospheric Marketing Secrets’.