Learning from your mistakes is one of the best ways for a person to grow and improve. But when you’re a business owner or project manager, it’s essential to “fail fast, and fail often.”
There are a few key mistakes unique to MSPs that hold them back from growth and a balanced life. As a company that’s dedicated to helping business owners and managers succeed and streamline operations, we have a few tips and suggestions to help anyone who feels like they could be doing more with their time and working more efficiently.
How many of these mistakes are you making, and do you have the tools and systems in place to rapidly overcome them?
Spending Time In the Wrong Areas
MSPs and IT service providers work hard. Unfortunately, a lot of hard workers can sometimes feel like they’re spinning their wheels and getting nowhere – fast. Company owners and mangers often spend long hours in the office on tasks that keep the business going, but don’t seem to move it forward as quickly as they’d like.
To overcome this feeling, think about exactly where you’re spending your time and what tasks deliver the most value to your business. Stephen Covey, author of “7 Habits of Highly Effective People,” divides tasks into quadrants and categorizes them by the drain on your time and resources compared to how much value they bring you. A lot of people spend time in “Quadrant Three,” tasks that are urgent but not important, and neglect “Quadrant Two” tasks, which is where you can create real value for your business.
Stop falling into this common trap and start shifting your time to Quadrant Two tasks that will take your business to the next level.
Not Automating Simple Business Tasks
You might be wondering where you’ll find the time to address important-but-not-urgent tasks such as long-term strategizing and pursuing new business. The answer lies not in cloning yourself or somehow adding more hours to the workday; rather, in making some of your day-to-day operations more efficient.
Some MSPs think they can manage their businesses with DIY project tracking, Excel spreadsheets and disparate business tools for time tracking and help desk ticketing. But, it’s important for you to invest in a professional services automation (PSA) platform that streamlines common business operations in a single location. Vorex, for example, combines essential business functions like invoicing, time tracking, CRM, asset management, HR, collaboration and help desk ticketing into an all-in-one platform to save you time, energy and money. By automating these services, you can consolidate business information into a single dashboard with a holistic view of your entire company’s health. The added bonus – you free up time to focus on more important tasks.
Choosing Complexity Over Simplicity
It might seem obvious to choose something that’s simple over something that’s complicated, but all too often, especially among MSPs, complex PSA solutions win out. People assume that more complex equals more robust, which isn’t always the case. What’s worse is that even if you DO end up choosing a more robust PSA solution, the complexity often keeps MSPs from using it to its full potential. So follow this old piece of advice: Keep it simple (we’ll leave off the “stupid,” because we don’t want to call anyone names).
It’s a no-brainer that an effective PSA solution is key to managing and growing your business. Stop being your own worst enemy and making mistakes that are holding your business back and hindering growth! The above tips should help get you well on your way.
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