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Empowering Your MSP Business to Grow and Prosper—One Post at a Time

The-Ultimate-Guide-to-Success-in-Managed-IT-Services


Featured Post

The Ultimate Guide to Success in Managed IT Services

What are the fundamentals to building a profitable managed IT services business? Keep reading to discover the four key ingredients for success.

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Top Tips for MSPs Supporting Office 365

Posted by Ian Waters on July 19, 2018

Top Tips for MSPs Supporting Office 365

At Southern IT Networks, we’ve been supporting Office 365 for several years now. Over these years, we’ve also moved from a pay-as-you-go support model to a fixed monthly fee model. Along the way, we’ve learned a lot about how to best support our small- and medium-sized business (SMB) clients and how to add value by using bolt-on services.

In this post, I’m going to share some of my top tips for supporting Office 365, as well as which services you could bundle in to add value and make it easier to support your clients.

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Topics: Revenue Growth and Profitability, Service Delivery and Operational Efficiency, Office 365

Introducing the MSP's Guide to Targeting New Verticals

Posted by Joseph Tavano on June 5, 2018

MSPs-Guide-to-Targeting-New-Verticals

The ability for an MSP to specialize and differentiate themselves from their competition is a major factor toward business growth. However, with IT services becoming increasingly commoditized, providers are converging under large-scale mergers and acquisitions. This leaves many MSPs looking for the right way forward to grow their business. For many MSPs, this means specializing managed IT services for specific vertically-aligned industries.

From technology needs, to regulatory concerns to highly specific RMM, security and BDR requirements, MSPs who specialize in a vertical must become experts within that field in the realm of IT. They will anticipate problems before they happen, resolve issues as they arise, and advise on the technology needs for the future—all of which requires industry-specific experience and knowledge. For the MSPs who take the time to accumulate these skillsets and earn a trusted reputation within the vertical, the ROI can be enormous.

It all starts with a first step, and our new eBook, Targeting New Verticals: Understanding MSP Opportunities and Go-to-Market Strategies, is the perfect place to consider and evaluate your next move.

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Topics: Revenue Growth and Profitability, Sales and Marketing, Vertical Alignment

Turning Executive Business Reviews Into New Revenue Opportunities

Posted by Nicole Hunter Hart on April 25, 2018

Turning Executive Business Reviews Into New Revenue Opportunities

As referenced in my last installment, Executive Business Reviews (EBRs) aid in driving awareness, communication, and reinforcing trust when expansion opportunities arise in your client base. With this foundation of how to deliver a highly effective EBR, it’s time to take things a step further to better engage with your clients and create meaningful relationships and mutually beneficial outcomes.

Executive business reviews should deliver both information and value to your clients in a clear, concise manner. Clients should leave the meeting with a better understanding of the work you’ve been doing to keep their business running efficiently, as well as the areas where you can help them improve. This is a delicate balance, so you must do your research prior to the meeting to be successful at capturing new revenue opportunities that are presented.

Focus on the following key items to help you achieve your goal.

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Topics: Business Development and Growth, Revenue Growth and Profitability

Who Filled Out My Form? Prospect Research 101

Posted by Frank Bauer on April 19, 2018

Who Filled Out My Form? Prospect Research 101

“I got an inbound lead! I’m going to call them right now!”

Whoa there. Let’s hit pause for a second. All of us in business get excited when that hot inbound lead comes in, but you shouldn’t be running full steam ahead as soon as they submit a form. Instead, take a step back and prepare before engaging.

Much like it’s important to understand your managed services competitive landscape, you’ll want to fully understand the end client before reaching out. That due diligence starts on the Internet.

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Topics: Business Development and Growth, Revenue Growth and Profitability, Sales and Marketing

The Ultimate Guide to Success in Managed IT Services

Posted by Lane Smith on April 18, 2018

The Ultimate Guide to Success in Managed IT Services

According to BCC Research, the global managed IT services market could be worth more than $250 billion by the year 2021. This sector in flourishing, and the potential for value-added resellers (VARs), break/fix providers, or emerging MSPs to achieve scalable, profitable growth in IT is tremendous.

Capitalizing on this proactive, preventative approach to IT services is more efficient than running around putting out fires. Additionally, this model can lead to higher margins, scalability and recurring revenue, while improving customer service. To get there, however, you will need the right business plan, technology and partnerships. 

So, what’s the key to unparalleled success in managed IT services? Focus on these four elements.
 

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Topics: Revenue Growth and Profitability, Service Delivery and Operational Efficiency

Metrics That Make Money: Learnings from an MSP Acquisition

Posted by Martijn van der Schaaf on April 4, 2018

Metrics That Make Money: Learnings from an MSP Acquisition

In 2015, I made the surprising discovery that there was no easy-to-use, powerful PSA tool available for MSPs. I searched and searched, yet I couldn’t find the low-complexity, low-cost solution I was looking for. So, I decided to take matter into my own hands. 

After more than 13 years of being an MSP, we sold our business in 2016 in order to launch Computicate PSA, an easy-to-implement PSA platform that MSPs can use to unleash their full potential. This blog represents my personal narrative about the journey of selling my MSP. While I don’t claim to be a merger and acquisition (M&A) expert, I did learn a big deal throughout the selling of our company, and I’d like to now share these learnings with you.

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Topics: Revenue Growth and Profitability, Mergers and Acquisitions

New Verticals to Go After in 2018: Non-Profit

Posted by Joseph Tavano on March 27, 2018

New Verticals to Go After in 2018: Non-Profit

Tight budgets. Limited staff. At first, non-profits do not sound much like a vertical that makes sense for MSP growth. How does one build a profitable line of business from a group of clients that, by definition, do not turn a profit themselves?

However, consider those first impressions one more time. Tight budgets mean there’s no room for anything to go wrong with their IT networks, because there may literally not be enough funds to repair and restore crucial infrastructure if it goes down. Limited staff means hiring a team of dedicated, qualified IT technicians is out of the question. In reality, there may not be a vertical better-suited to the managed services model than the non-profit sector, as there is a clear and genuine need for MSP services.

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Topics: Revenue Growth and Profitability, Vertical Alignment

How to Write an MSP Business Plan

Posted by Lily Teplow on March 21, 2018

Write-an-MSP-Business-Plan

If you fail to plan, you plan to fail. That old adage has always rung true in all businesses, and managed services providers (MSPs) are no different. Yet successful planning all starts with one critical element: Your MSP business plan.

Despite the importance of this document, many MSPs operate without one, and subsequently operate without any kind of guidance or direction. An MSP might have acquired a few early customers from referrals and personal relationships, prompting them to formally set up their business, but the truth is that without a business plan to lay out the future, that MSP will have no idea where it’s headed in the future. Simply put, you need a sound business plan, codified and documented, to steer your MSP’s direction. Here’s how to write an MSP business plan, in eight steps.

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Topics: Business Development and Growth, Revenue Growth and Profitability

New Verticals to Go After in 2018: Construction

Posted by Joseph Tavano on March 13, 2018

New Verticals to Go After in 2018: Construction

When the discussion of verticals comes up in the IT channel, the conversation usually switches to the healthcare industry, legal, financial—in other words, the established verticals, and the opportunities there. However, in many regions the markets for these verticals amount to a zero-sum game; there are a limited number of clients within said vertical in a region, and to add new clients, another must lose them.

This sort of stiff competition can make it challenging for new MSPs to enter a vertically aligned market, but that’s not to say there aren’t other opportunities to specialize in a vertical. Numerous verticals exist for MSPs to tap into, and new ones are being born all the time as advancements in technology and communications enter new sectors.

The construction industry is one such sector where managed IT services are emerging as a clear necessity for maintaining normal business operations, and as such has become a new vertical MSPs are able to specialize in.

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Topics: Business Development and Growth, Revenue Growth and Profitability

7 Proven Tactics for MSP Growth: Tactic #7

Posted by Joseph Tavano on March 8, 2018

Tactic-7

MSPs have plenty of options when selecting their technology partners, so what is the criteria that matters most when choosing the best partner for your business? In this seventh and final installment of the 7 Proven Tactics for MSP Growth, you’ll learn why a low total cost of ownership for your technology solution over time is the best way to maximize margins and optimize productivity.

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Topics: Business Development and Growth, Revenue Growth and Profitability

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MSP Guide to Managed Services SLAs  [white paper]
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