Putting all your eggs in one basket is never a good strategy. It’s always best to diversify most aspects of your business, especially your customer base. Most of us have been there before. We score a big customer and tout it as a big win, which is a significant...
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I remember when I first started training MSPs and speaking at MSP events, probably around 2008 or 2009. At that time, many IT providers were trying to change from an hourly business model to a recurring revenue model. I told people they had to get to $150 a seat....
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Marketing is still one of the top challenges managed services providers (MSPs) face today. When you’re a one-person shop, marketing sometimes falls to the wayside, as there are typically urgent matters to tackle. But if you don’t have a presence in your community, someone will. Remember: Your local community...
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In a previous blog post, I talked about how MSPs today have many more tools and technology than ever before. Most of these tools provide integrations to other tools. Of course, this is done through APIs. While integration can help efficiency and make a technician’s job easier, it can...
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Every MSP has more tools and technology than it did a few years ago. Think about it: The average number of tools in your stack has probably increased dramatically. But tool costs have gone from 10 percent to 20 percent to 30 percent of your seat cost! So, it’s...
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Do you have a business plan for 2022? If so, do you have one that’s making you do something differently? If not, success will be out of reach. An effective business plan is actionable. It provides you with steps to achieving your goals. It also provides a way for...
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Companies of every size have realized the importance of business resilience because of a wide variety of disruptions—from cyber-attacks and natural disasters to geopolitical upheaval. They have also evolved their use of the cloud to accommodate remote work using cloud-based applications and other cloud-based services. These companies must also...
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I’ve recently been talking a lot with our peer groups about the changing economy. Unfortunately, the hopes of a soft landing for the economy are diminishing. I think we’ve reached the point where we all need to think about what rising interest rates and a looming recession mean to...
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The close of a sale is a celebratory occasion. After signing the contract, most companies might open a bottle of champagne or give a round of high-fives to celebrate the glory new revenue brings. It’s a joyful moment. However, this moment is often short-lived since the onus is then...
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Most MSPs struggle with sales, specifically the ability to add new monthly recurring revenue at the right price. The root cause of MSP sales struggles is a weak go-to-market strategy. Our business model is very forgiving, right? It forgives many sins because we sell recurring revenue, and the average...
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