MSP Tells How To Build A $1 Million Recurring Revenue Stream

By Christine Kern, contributing writer

In a Continuum webinar, “Million Dollars a Month: Building Your Recurring Revenue,” Frank Lusko, vice president of sales Connected WorkPlace Solutions (CWPS), discusses how his business was able to build its recurring revenue streams with attention to four important steps. 

Lusko’s presentation includes information regarding the journey to building recurring revenue, the sales process, sales team management, and advice for avoiding common pitfalls.

According to Lusko, most new MSPs’ businesses flourish early on, growing via word of mouth, before hitting a plateau and flat lining. Lusko explains that flat lining is a sign the company has reached growth limits. In order to surpass limits, MSPs need to build a sustainable sales engine to drive new business into the company.

The Journey To Recurring Revenue

CWPS sets an example for other managed services providers (MSPs) to model in terms of finding the sustainable sales engine and driving recurring revenue streams. Founded in 2002, CWPS saw its growth jump 50 percent in 2009, and has experienced solid growth ever since.  CWPS anticipates it will pass the $1 million-per-month threshold later this year.

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