Hopefully 2019 has been off to a great start for you! With the direction the market and technology are moving, MSPs are in a unique position to take advantage of the situation and grow their business. The hardest part is figuring out how to sell more without having to spend more.
With that in mind, here are three tips to grow your MSP business in 2019:
- Build out your services
- Run leaner
- Optimize your operation
Build Out Your Services
Selling the idea of outsourced IT is no longer the biggest hurdle MSPs face when it comes to new business. Today, the biggest challenge is making sure you offer the right services that are a fit for the customer. By having a large variety to choose from and pre-packaged options, you’ll help an organize find what they are looking for a lot faster.
By far, data security and data continuity are top concerns for many small to medium sized companies and they are looking to MSPs to help them conquer their concerns, so they aren’t alone. Additionally, finding ways to share the value with current customers will not only help keep their customer loyalty, but it will also help them grow as well. Something else to consider is reaching out to your current customers and asking what they would like to see as an offering. Listening to your customers is one way to set yourself apart from other MSPs.
Some key areas to consider are security and software management, backup and disaster recovery, cloud management, and compliance management.
Run Leaner
The idea of running a leaner business seems straight forward but getting there can be difficult if not done correctly. The biggest thing to keep in mind is that you can only grow so fast. If your revenue growth can’t outpace your hiring, then you need to be creative to find ways to grow faster. The best way to do this is to start to automate routine tasks so your team can focus on more important aspects of the business such as new customers and customer on-boarding.
Optimize Your Operation
Last, but not least, is optimizing your operations. The best way to look at this one is to think about two products you have that seemingly go together. Do they truly integrate or are they merely coexisting? By finding ways to optimize your operation and really take a holistic approach, you’ll be able to see where your efficiencies and deficiencies are at in relation to the products offered. Keep in mind, there is always room for improvement, but this can play a major role in helping to grow your business without having to hire more people.
So How Do You Get There?
What you do now will set the tone for the rest of 2019. So, make sure to step back and set reasonable goals for your business. The next step is to create a high-level plan to achieve those goals. Make sure to utilize this plan by setting milestones along the way throughout the year so you'll continue to monitor your progress. Finally, you should be committed to investing in required resources to make your plan a reality.
Looking for more strategies? You can also check out a past blog about 5 strategies to increase your visibility and differentiate your business in a crowded market.
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Tags: Managed Service Provider
