If you’re a TruMethods veteran, you were probably expecting this blog post any day now, but if you’re new to the TruMethods framework, this year may be your first selling season. Either way, selling season is underway, and it's time for you to add new monthly recurring revenue (MRR) at the right price.

MRR is the lifeblood of our company. But is all MRR created equally?

When creating strategic initiatives in the myITprocess Strategic Roadmap, it is common to get pulled in the direction of creating initiatives that reference technology versus plugging into clients’ business initiatives. Recommendations can and should be a blend of business and technology suggestions, but should always reference a business case as to why the recommendation should be accepted.

While there’s much debate over how many verticals an MSP should specialize in, the general consensus among IT professionals seems to be that specializing in one or more verticals is typically a good business decision for MSPs. But for how long should an MSP specialize in a vertical market? And what are the signs that point to the need for an MSP to reevaluate the verticals it’s conducting business in? Those are the questions that are typically left answered.

I spoke to an MSP a few weeks ago that does about $3 million in revenue, and I would call it low margins. They have been in business for 11 years, and I asked the owner, “What would success look like in three years?” He replied with, “We want to go from 3 million to $10 million in revenue.”

Earlier this month, international consulting firm Accenture became the latest target in a string of high-profile ransomware attacks when the LockBit group claimed to have breached the company’s servers and threatened to release its data.

In any business model, each role needs to do their job to the best of their ability; this has remained a principle of business since the beginning of capitalism.  But how have things changed for everyone throughout the course of the pandemic?  The Technology Alignment (TAM) role in particular could be seen as the role that changed the most in our MSP model, but the core of it remains the same.

When something’s not working, it’s time to reevaluate what you’re doing. There’s bravery in asking for help. And after you do, you’re oftentimes rewarded.  

How did a parking lot remind me of your Technology Success practice?

Although some people have returned to the office at this point in the pandemic, there are still many people working from home. Of the companies that are still working from home, their office parking lots have not seen nearly the amount of activity that they once did. At one point after TruMethods went to work from home, I drove past an office parking lot in town and noticed mother nature was taking over.

We are at an historic point in the MSP and SMB landscape. There's never been more opportunity or risk. I've had a consistent message this year: You need to be a professional businessperson as an MSP in order to capitalize on market opportunities that we are now presented with.