MSPs are using more software tools now than ever before.  

 The April 15 filing deadline is looming, and so far, the 2019 tax season has been a lively one. Businesses and individual filers alike have been struggling to understand the full ramifications of the significant changes made to the tax code in 2018 under the Tax Cuts and Jobs Act of 2017. Additionally, a government shutdown threw a monkey wrench into the IRS’ ability to process tax returns and issue refunds.

A few weeks ago, I published a blog post on the rise of private equity money in the channel. Recently, Thoma Bravo, a private equity investment firm, which also owns Continuum and is a major investor in both SolarWinds and Barracuda, acquired ConnectWise (a deal estimated to be worth $1.5 billion). Somehow, this feels like a seminal moment for MSPs.

If your monthly recurring revenue (MRR) is down, it might be time to re-evaluate your sales process. In fact, even if your MSP’s MRR is increasing every month, you should still gauge your progress in the sales process on an ongoing basis. Then, every couple of months, re-evaluate your sales process to determine where you and your sales team can improve. If you’re unsure of where to begin, look closely at where you are as a salesperson and an individual before reviewing your sales process. 

Now, I’ve spoken about private equity entering the MSP space before, but since then, a lot has happened, much of which is good news for MSPs. Think about it this way: PE firms only chase expanding addressable markets. The fact PE firms have been investing in the channel means they believe the potential customer bases for MSPs and vendors are growing rapidly. While PE firms investing in the channel is overall a good thing, there are some things for MSPs to consider this year.

With cybersecurity top of mind for business owners, MSPs have an extraordinary opportunity to become more than just IT providers in 2019. When executives review security vulnerability reports for their organizations, they’re forced to look at how breaches would impact overall business risk. This is where MSPs can insert themselves as not only cybersecurity experts but business risk professionals.

Shadow IT isn’t going away anytime soon, so be sure to hold on tight. As managing shadow IT becomes a greater concern among business leaders at all levels, solutions to overcome challenges arising from this unfortunate phenomenon are accelerating. Those businesses already geared up to combat increased security threats from the widespread use of shadow IT are — you guessed it — MSPs. Even though there are many MSPs still unsure of how to control shadow IT effectively, a good bulk of them are making progress and protecting their customers from unintended side effects.

To be able to successfully execute your MSP sales plan for the year, your sales engine needs to be running at peak performance. If it’s not, it's probably time for a sales engine tune-up — and just like any tune-up, there’s a sales checklist to follow to ensure everything runs smoothly the remainder of the year.

Like a wheel, life goes round and round. Holding it all together is your framework, which you’ve been building up your entire life. If one spoke breaks, you weaken as a result. To keep the ride — your life journey — from getting thrown out of whack, strengthen your life’s spokes by growing and accepting.

Many MSPs are struggling with promoting themselves on social media platforms, which isn’t a surprise: Marketing has always been a top challenge for MSPs. Over the years, more and more MSPs have become interested in deploying social media strategies to increase brand awareness and generate leads for their sales teams. Before making the jump, there are some things to consider first.