Your MSP Business Strategy Must Account For a Continuously Fluctuating Market
Every MSP business has always dealt with change. Change is an essential component of any economic ecosystem. But change today is different than change several hundred years ago. The current free market system allows natural competition between businesses that grow unimpeded— well, mostly unimpeded. Let’s not get into unjust taxation here. The point is when free market ideals were initially endorsed several hundred years ago, economic transition was slower than today. As technology has advanced, so has economic flux. This is especially true in the information age characterizing modernity. Today, everything changes continually— this is especially true in technology. With that in mind, the following are four advisable characteristics your business would definitely benefit from adopting if you haven’t already:
• The ability to adapt
• Innovative development
• Resilient operations
The Ability to Adapt
Your MSP business must be able to change on the fly— well, with expedience anyway. Moore’s Law indicates technology basically doubles on itself every year–today, Moore’s Law is defined as a time period of about eighteen months. The trickle-down of such technology expansion likely won’t hit everywhere at once. Some regions will have a greater level of it than others. Still, if you’re in technology, you should expect some form of the “new hotness” to hit the market every year and a half. Ideally, you should be adapting with these innovations; that means keeping close tabs on development and acting when the time is right.
An MSP can’t just exist in a sort of “static” way. Any MSP seeking success needs to be constantly designing and discovering new operational techniques. They need to be pushing the envelope, making new technologies, engineering new protocols, and truly providing unique service solutions for their diverse clients. The more streamlined general operations are, the more resources you’ll have available to devote toward innovation. If done right, innovation can definitely prove a competitive positive against competition, especially if you’ve developed something that “the other guys” don’t have.
You’re going to have setbacks— that should be a given in your operational model. You need to account for A, B, C, D, and Factor X. There’s always a Factor X out there. The factor could be a hacker, it could be a manufacturing defect, and it could be a power outage, a storm, or even a violent local uprising of the civil kind. It doesn’t matter; you’re going to come against Factor X. You’re also going to come against competition, and human error, and client error— the list goes on. You must plan for this to have resilience, because then you’ll have the strength to deflect when operations go awry.
You want your MSP company to be fast in terms of innovative development and service delivery. You’re going to have to catch opportunities quickly. Sometimes, a once-in-a-lifetime client will ask you something which isn’t regularly in your operational protocol; if you can be flexible in such a scenario, then be flexible.
About our Contributor
Robert Naragon is the Founder and President of ITQue, Inc. (pronounced “i-teek”), an Managed IT Services based in San Jose and Campbell that provides IT Support in San Jose. ITQue provides a wide range to IT services to San Jose based companies. And ITQue provides managed services to help San Jose small and mid-sized businesses increase productivity and profitability with customized, flexible hybrid cloud and IT outsourcing solutions is San Jose. Prior to ITQue, he was the Founder and President of VistanetIT, Inc., also based in Campbell, a IT Outsourcing Provider to small and medium-sized businesses in San Jose.