It’s Time to Adjust Your 2020 MSP Business Plan

| Author

A lot in the world has changed since you drafted your 2020 business plan late last year.  

The COVID-19 pandemic has without a doubt transformed the way we live our lives and operate our businessesYour customers have new expectations and are demanding more from you and your employees, so my question to you right now is this: Have you adjusted this year’s business plan yet? 

Here’s the thing: Too many MSPs are sitting back in a defensive posture — and it’s worrying meIt’s almost like they're waiting for the COVID-19 pandemic to pass before seizing the opportunities being presented to them at this very moment.  

Now, I can't predict what will happen with the current health crisis (of course, it’ll eventually pass, but we don’t know exactly when), but from an economic perspective, here’s what we do know: Unemployment is forecasted to spike in June to twenty percent 

Before I go any further, let that number sink in.  

Twenty percent is a staggering figure to comprehendso make no mistake about it: We’re in a new economic cycle, and it’s time for us to prepare for what lies ahead — a bumpy ride 

So, fasten your seatbelt, and protect yourself and your company from what’s coming down the pike by reevaluating your 2020 business plan. You can do this by reviewing your process, go-to-market strategies, and packaging and pricing to better prepare yourself and your customers for the new economy.  

I normally recommend to business owners that they draft a ten-year vision, three-year targets, a one-year plan and quarterly action plans, but the future is a lot fuzzier now than ever before. 

Adapt to today’s uncertainty by focusing on what I’m calling a rolling 90-day action plan.  

In other words, determine what must happen in the next 90 days and then the following 30 days. Stay in this cycle until we can get a better view of the future to recalibrate. 

I'm encouraging MSP business leaders to get their teams involved during this process. It’ll pay tremendous dividends in the end.

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TOPICS: top managed service provider MSP business planning msp business plan MSP profitability COVID-19

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