The Top Reason Start-ups Succeed -- Or Fail

Whether you’re transitioning into the managed services market or launching an MSP from scratch, I spotted some timely start-up guidance from Inc. magazine. The article highlights the need for “careful morale management.” But I think you need to take the example one step further and ask yourself: Can you really build a business doing everything by yourself?

According to Inc.’s feature:

Do Solo Acts Succeed?

If you apply that example to the managed services market, I’ve noticed another key trait about morale management: Generally speaking, I think many successful MSPs have at least two strong leaders — with clearly defined roles — who build and drive the business forward, and continually motivate each other.

As I’ve discovered here at Nine Lives Media Inc. (parent of MSPmentor), one person can’t do it all. Yes, I think self-motivation is a critical secret to success. But business partners who consistently give each other a morale lift is a huge secret to success.

And if you think about it, many highly successful tech companies have (or had…) two leaders — with clearly defined roles — who continually motivate each other…

Do you always need two people to succeed? Certainly not. And two (or more) leaders who lack clearly defined roles can destroy a business before it even gets started. But I find the secret to great morale — and success — is working with a business partner who knows when to challenge you, when to criticize you, and when to praise you.

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