How Thinking Like Jedi Master Sifo-Dyas Can Help Your MSP Business
Is your MSP business ready for growth?
Growing is part of life but when it comes to business, it can be optional. Business growth and sustaining it is not a matter of chance, it is a matter of following carefully made business growth plans. A member of the Jedi Council Master Sifo-Dyas would certainly agree with this statement. Although his character never made it to the big screen, he was mentioned in Attack of the Clones as the one responsible for the creation of the clone army. He strongly believed that the galaxy will soon be under war and proposed to have an army for the Republic’s defense. The Council rejected his ideas and so he secretly commissioned the Kaminoans to create a clone army.
Though you are satisfied with the good performance of your IT business today, it should not stop you from growing and developing your company. Just like Sifo-Dyas had a vision of the future, you should have one for your MSP business too. The following will help you plan for the growth of your business.
Identify your growth goals
Always start by having a good grasp of what you want to achieve or where you want your business to be in the future. Translate your vision into short-term and long-term goals. Make sure they are SMART (specific, measurable, attainable, realistic and time-based) and that your action plan includes the people who will be involved, what they need to do, and when they need to happen. Study also the skills or areas you need to grow on, the strengths you have, and the possible risks you will face. This will give the company and your employees a clear road map of where they can confidently travel.
Do it together
A business growth plan is useless without the help and support of the entire company. Every staff member of your IT business should know the company’s growth plans and their roles in it. This will give them a sense of purpose and a sense of security that will help them become motivated to their different tasks. Hold regular staff meetings to monitor the company’s performance and discuss areas that need to improve.
Keep an eye on your cash flow
Watch carefully costs and profits that the company makes. Your resources are limited and controlling the costs is important if you want to grow and succeed. Learn to prioritize expenditures and be cautious on entering markets. Research well the short and long-term benefits of the expenses you are making. And remember that a bigger cash flow is not always equal to a bigger profit.
Set regular progress reports
Fix your eyes on the prize. Regularly review your business growth plan with your team and compare it with the current standing of the company. Go over your objective and goals and identify the problems that are in the way of development.
Failing to plan is planning to fail. This is true for your MSP business, to life in general and even applicable to a government in a galaxy far far away. The Republic failed to plan for a droid army attack on them, but fortunately, Master Sifo-Dyas did ten years earlier. Thanks to his advanced production of the clone army, they happened to be ready to fight just in time when the Jedi needed them. The lesson to learn is your MSP company should have a plan for growth beforehand. In anticipation rather than trying to catch up with it. Because if you do not, you risk getting swallowed by competitors and lose your market share.