Being a business owner can feel like you’re on an island. There are so many things to do and groups of people and processes to oversee, and it can feel like no one really understands. But at the same time, it feels dangerous to talk to someone who could be seen as a ‘competitor’ that could take sales away from you. So what is an MSP to do?

I believe that every MSP owner should be part of an industry peer group. While there are several great peer groups in our space, I think ours are the best (surprise, surprise) — and we’re now doing even more. 

Regulations and compliance are a topic that stirs debate among business owners. Whether it's statutory, regulatory, contractual, or industry best practices, the idea of the government or Nonprofit Organizations (NPO) meddling with profits is often a red flag for business owners. Yet, in some cases, regulations provide a safety blanket for consumers and those affected by products and services today.

Now, more than ever, it's critical to make the right decisions for your business. Here’s the thing you must remember, though: Making good decisions isn’t about being smart or having a crystal ball. Instead, when you’re contemplating decisions, you must keep two critical perspectives in mind. 

Doing your job is the easy part. While many people can complete routine tasks, meet company standards and ensure customers are satisfied, they oftentimes fail at mastering their crafts. 

While the worst of the economic impact may be upon us, I want to offer some perspective on what MSPs should be thinking about, what the TruMethods team is doing to assist its members and how MSPs can come out on top after the pandemic subsides.   

*Please note that the information in this blog post is not advice and TruMethods recommends speaking with proper legal counsel or a financial advisor before making decisions.

The world is upside down. Cities and countries are on lock down across the world, a big chunk of the world economy shut down for an undetermined amount of time, markets are dropping along with investment portfolios, and fear is rising. While there are many unknowns, here's what I do know.  

We're in the midst of a rapidly changing reality. Without a doubt, the world has changed. It’s never going to be the way it was before the COVID-19 outbreak. 

The Coronavirus outbreak is dominating not only the country’s news cycles, but our lives. Right now, we're seeing how external factors can impact the economy quickly in a big way. No one knows what the ultimate impact will be on the global economy (or even your local economy). I’ve been talking to our TruMethods peer groups over the past year or so about the importance of understanding the economic cycle — and now you know why: You as a MSP owner must always prepare for the next downturn.