I spent some time in Vegas a little while back (for business, not pleasure, although there was some of that). I took the opportunity to meet with many TruMethods members and attend several industry events. After heading back home, I thought it would be a good idea for me to share some of the key takeaways from my most recent trip to Sin City with you.
The first day of my trip we held an event for TruPeer members. Boy, you could feel the energy at the opening cocktail reception! People were so happy to be back at an in-person event. We spent the next day gaining perspective, talking about security, new legal issues, and the future of managed services.
This is a time when every MSP needs to gain perspective. You need to find ways to understand more about the changing landscape. Read industry news and blogs, go to a few events, and join a peer group. You cannot understand what you need to do differently just by using your logic or by working on a support ticket.
After spending time with TruPeer members, I participated in an industry M&A event. It’s obvious that the impact of M&A and private equity money is changing the MSP landscape and will continue to impact every MSP over the next three to five years and beyond. Our market will look much different in large part because of these changes. Every MSP leader needs to understand how these changes will impact your approach to the marketplace. Even if you don’t plan to sell or buy, you need to stay on top of these trends.
Finally, I want to share my takeaways from Kaseya Connect IT 2021. It was great seeing so many customers and old friends. There were a lot of sessions around security, M&A, legal — those kinds of things. But the thing that struck me the most as I surveyed MSPs during my sessions was how the markets have changed over the past two years.
Speaking at events two years ago, MSPs were more on a gradient scale of growth, profitability, and seat price. Today, there’s much more bifurcation. There is a group of MSPs that have evolved. They have changed their security posture and are commanding higher prices. Then, there are other MSPs that seem a little stuck, still trying to figure out how to adapt to the new environment.
I think the next 6 to 12 months is a critical time for MSPs. During this time, they will need to work to align their offerings, their security postures, and, most importantly, their pricing structures to meet the current SMB landscape.
And when you figure it out, pay it forward. There’s enough money on the table for everyone.