If you’re running an MSP company, it’s likely that you feel you’ve graduated from days of fast-moving, unsteady, risk-based entrepreneurship. Certainly, the requirements for managing an established company differ from those of early-stage entrepreneurship. However, there are some rules of entrepreneurship that are worth keeping in mind. They can help keep your organization healthy, vibrant and strong.
We Learn from Mistakes
Sure, we like to avoid mistakes. We certainly want to avoid repeating the same mistakes. The only way to avoid any risk of mistakes, however, is to avoid trying to do anything new. If you’re actually trying to be creative, innovate or even just test new waters, mistakes will be inevitable.
Mistakes are how we learn, so they should not be considered tragic failures. Yes, undertake a post-mortem to discover why you made a mistake. Figure out how to alter your approach, so that you don’t repeat the same mistake. In some cases, you just have to accept that a mistake is the proof you needed that the attempted path was headed the wrong way.
However, you have to try. To attempt to avoid mistakes is to attempt to avoid success.
Growth Lies in Uncertainty
This is the corollary to the point made above. Sticking to the same old, certain and proven ways is death. Only through creativity and innovation can we grow, both as people and as businesses. Creativity is found only in the uncertain spaces between what we know or the gaps in our knowledge.
Only by trying new things that have yet to be established can we discover new ways. If we don’t plunge into the darkness at some point, we cannot create. As you know with your MSP company, failing to innovate will leave you falling behind. So, you’ll simply have to accept some uncertainty and the fact that sometimes, you’ll get tripped up. You’ll make mistakes, but you’ll also learn and grow.
Luck is Made
It’s funny how many successful people seem to luck out. It would be easy to point at them and bemoan the fact that if only we’d had that lucky break, we could have made it, too. In reality, the only difference between those ‘lucky’ people and the rest of us is that they were in a position to seize an opportunity when it arose. They made their luck, partially by ensuring they had the resources available to jump on good fortune as it rode past.
For a managed services provider, this could mean having the vendor relationships needed to support a new client that is so big they couldn’t normally accept the contract otherwise. It could simply mean taking advantage of networking relationships cultivated by attending functions that your competitors spurn.
Fortune Favors the Brave
An extension of the points above about seizing uncertainty and being ready to take a chance is the idea that fortune favors the brave. You can help your company be braver about jumping on new opportunities by ensuring that your infrastructure, organization and employees are rock solid. When you’re confident in the abilities of your business, you and your staff will be much better prepared to handle the challenges that come with seizing a big new opportunity.
You Are Exactly Where You Belong
Acceptance is a vital component of the entrepreneur’s toolkit. It doesn’t mean that you have to settle for second best or be happy when you underperform. However, accepting that you are exactly where you’re supposed to be— and everything that really means— allows you to examine clearly how you and your business got where you are, learn from your mistakes and chart a more accurate path to more accurate goals.
Lessons Don’t Stop Until You Learn
The universe keeps sending lessons until they are learned. Over time, if we ignore the lessons, the pressure rises, until we have no choice but to change direction. So, the sooner we appreciate the lessons and learn from them, the sooner we graduate to new lessons. Yes, they’re tougher lessons. That’s how you, and your MSP company, will continue to grow and graduate.