Learn how to implement strategies to make your business the “business of tomorrow”. Every MSP is on an upward trajectory to success, relevance, growth. Their current business model may not be able to sustain this pace for long. MSPs need to be flexible and adaptable to differentiate themselves. You can become the “business of the future” by implementing strategies and initiatives that reflect the values of your community and go beyond selling a product or service, according to Dan Scott, IT Nation Community Manager, EMEA at ConnectWise and vice chair of UK Business Technology Community.
Scott highlighted five areas MSPs should concentrate on to prepare their business for the future, security, sustainability and community. This was during a UKI Business Technology meeting held in Manchester, UK. Here’s a closer look:
Cybersecurity: The Shift From Add-on to Cornerstone
Security threats are increasing and the shift from cybersecurity to a core part of service offerings has already taken place. Scott predicts that security will be a significant part of MSPs’ businesses within three years. This is a dramatic leap.
This means that security solutions must be tailored to client needs and cover a wide range risk profiles. This is a huge advantage. VansonBourne, a market research company, conducted research that surveyed thousands of SMBs from a variety of industries. Their findings showed that 92% would be willing to shift their entire IT service provision to another company, even if it is more in line with their business goals or risk profile. These numbers show that clients will seek out those who are able to provide more than the basic services they need.
Sustainability: Act Now, or get left behind
No matter how large your business is, the road to net zero presents challenges in the IT Industry. MSPs need to adopt sustainability policies. Scott said that there are many ways to achieve a sustainable policy that is simple and friendly. This will help you to succeed as more companies are open to sustainable business partnerships.
Incorporate yourself into your community: Your community will give back to you
It can be easy to become a MSP and be isolated. However, MSPs can benefit from looking outward at other professional service organizations in their local communities for inspiration. No matter where you are in your success journey, it is worth taking a step back to ask yourself: What role does the business play in my local community? Is my business giving back in a meaningful way that positions me to be a leader worth following?
There are many ways you can improve, regardless of your answers. Your company should be built around your love of your community. Support local causes, look to your community for inspiration, and, most importantly, give your time, talent, and money to those around you, even if they are not directly involved in your business.
Implement DEI Initiatives: Tomorrow’s decision makers don’t think like you
Diversity, equity, and inclusion (DEI), has become a huge challenge with huge global impact. Strong DEI initiatives can be the backbone of any business’s growth. You can create a culture where employees and clients feel heard and inspired by others who don’t think the way you do.
“Don’t believe you can just go into a market and talk to people, using opinions and viewpoints that you don’t fully understand. … Tomorrow’s decision-makers don’t think like yours. Scott said, “Adapt or lose out.” Trend Watch
Culture will follow: Be a liberated leader
Culture and leadership go hand-in-hand. Understanding how your employees want to lead is the first step to building a strong company culture. Before you can lead others, you must first know yourself. It’s about creating a fire in your team and not under them. It’s about a new way of thinking that makes people believe they can do more than they think.