5 Things MSPs Can Start Doing Today for a Successful Tomorrow

Adapt to changing client demands: Today’s MSPs’ client relationships are the No.1 growth driver. In our 2018 MSP Metrics that Matter survey, more than 68% of MSPs with rising client renewal rates cite client relationships as the main reason–more than any other factor.

Specialize, but remain aware of universal concerns: As industry-specific technology becomes more prevalent, MSPs need to understand the sectors in which they’re working to properly advise clients of the best options for their businesses. CompTIA’s 2018 “7th State of the Channel” report found that nearly two-thirds of the channel firms began specializing vertically to satisfy client demand and that embracing an industry niche has been a competitive advantage.

Add new revenue streams: As more platforms and devices integrate AI and machine learning, expertise in these technologies is quickly going to become a differentiator when clients are choosing an MSP. The CompTIA report also suggests that working closely with these technologies may lead MSPs to develop their own intellectual property, further differentiating them from the competition.

Focus relentlessly on efficiency: While the importance of relationships is hard to overstate, savvy MSPs also need to devote resources to strengthen operations. Our research shows that one in three growing MSPs said that improving service desk processes, performance and automation efficiency contributed to their increasing client renewal rates, and more than one in four (29%) reported that improving service technician performance contributed to growth.

Have a plan to scale: As you strengthen relationships and provide more services and products, you need to know how you will manage growth while maintaining relationships. Scaling provides enormous opportunities for inefficiency creep. As growing MSPs add new services, products and people, keeping a focus on waste-free operations is essential to maximize profits. Adopt automation, optimize service technician time and performance, improve help desk performance, and apply best practices around efficiency on a regular basis to stem inefficiency losses as you grow and maximize productivity.