Lots of IT service providers dream of becoming a World Class MSP. So, what’s holding them back?
Maybe they’re drowning in IT tickets or fighting to get monthly recurring revenue up. These are problems that many small to mid-size managed service providers face.
But, there are several characteristics that all top MSPs have in common. By adopting these approaches, you could set your business apart, too.
Focus on these five resolutions and incorporate them into your daily operations to make strides toward becoming a World Class MSP.
I Will Create A Business Plan
Your business planning process is your top indicator of success. The better a business plan and its process for implementation are, the higher the level of success you’re able to achieve.
You may be thinking: We barely have enough time to get through daily work, let alone develop and focus on a business plan. But, that’s exactly the reason why you need one. It helps you improve the way your business is running and reach maximum efficiency.
So, what does an effective business plan entail?
- It’s actionable. Your plan should detail clear changes that your employees must make in order to align their work with organizational objectives.
- It helps you meet your goals. The plan should delineate precisely how your team can make strides toward reaching the goals you’ve established.
- It sets priorities. It has to outline the priorities of your company and enable your people to align their own priorities accordingly.
- It promotes discipline. A detailed business plan helps structure your procedures to cultivate an organized, well-oiled operation.
I Will Master Packaging And Pricing
The way you package and price your products is directly tied to your ability to achieve success as a top MSP. While technology changes daily, the range of typical services that MSPs provide to their clients basically remains the same.
When you boil it down, clients seek three main IT solutions from their provider:
- Maintenance
- Support
- Strategy
The way you package and price these essential services sets you apart and helps your company become a top MSP. You have to translate your menu of services into a well-packaged plan that meets your clients’ needs. When you tailor your offerings this way, your clients are more likely to see the value in your services and pay a higher price.
I Will Focus On Sales
You may be able to offer the best package to your clients, but if you don’t have the ability to sell it, your company isn’t going to see growth. You must focus on developing your sales process and putting it into practice if you want to realize increases in your monthly recurring revenue.
Don’t worry: You don’t need a huge sales team or vast sales experience to see results. There are five keys to achieving maximum sales effectiveness:
- Set monthly recurring revenue goals.
- Develop a repeatable sales process.
- Focus your resources – time, energy and manpower – on those goals.
- Track and evaluate your efforts, holding yourself accountable for them.
I Will Outline A Process
From your business plan to your sales efforts and through your IT solutions delivery, you need to develop an operational IT process that helps you run your company in the best way possible.
Start by involving your entire team in creating an MSP process for your company. Every employee and department should have a voice in its development. That way, the whole team feels ownership over it. Regularly assess procedures that you already have in place, and improve them based on how you want your company to run.
Once you’ve defined this operational and IT process, document it. This is going to improve your MSP training methods and make it easier to onboard employees in the future. Use your process to master your daily operations.
I Will Take Control Of My Business
To keep your business running smoothly, you need a holistic view of your operations. Through regular assessment and comparison of your current operations to your goals, you’ll easily identify areas that demand improvement. Evaluate your progress on each of the previous resolutions to gauge where you need more work.
Top MSPs regularly reflect on their business model and how it’s running. Your ultimate goal is to increase monthly recurring revenue, and each of these actions has an impact on your bottom line.
Interested in learning more about improving your business to increase monthly recurring revenue? Download our free whitepaper, How To Become A Top-Performing MSP: Your Guide To Providing Profitable IT Solutions.
