There are always decisions to be made when running an MSP business, but can you be sure that you are going about them in the right way? Making the wrong conclusion can spell disaster for your company. So, how can you make certain that your choice is the right one? As long as you are gathering enough relevant information and weighing up all the alternatives, you stand a good chance of heading in the right direction. However, there are some tools available that you could use to help you along the way.
Which Tools to Choose?
If you are unsure as to how you should make your decision, there are a number of ways that could help you, depending on the type of problem you have.
Charts can be a huge help if you have different alternatives to pick your correct option from, and creating a decision matrix, T-chart, or decision tree may help you see a solution more clearly. A decision matrix allows you to rate your options based upon the importance of the factors that affect them, while a T-chart is similar but deals with the pros and cons of a particular decision. A decision tree takes it one step further as it allows you to follow through the ramifications when a particular option is chosen.
Prioritizing and Analysis
If your MSP business has a large number of possible options that need to be whittled down and a group of people responsible for that decision, then, in this case, multivoting can be used to narrow down the options until only one possibility remains. Depending on the scope of the issue, different analysis paths can also be followed to come up with a satisfactory solution. If you have too many options to make clear consideration a possibility, a Pareto analysis might be your best bet in that it allows you to prioritize options depending on their overall impact. However, if your decision is directly related to financial matters, a cost-benefit analysis will be more useful as you can specifically prioritize by financial influence. Alternatively, if consumer choices are at the heart of your problem, then a conjoint analysis can be useful for prioritizing by customer preference.
Finally, planning tools that allow you to place importance on your options relating to specific factors can be used, such as the SWOT analysis in which you list your problems with regard to Strengths, Weaknesses, Opportunities, and Threats; or PEST, which is similar but for Political, Economic, Social, and Technological effects.
When being in a position of responsibility for your MSP business means that you have to be the one to make all the decisions, make sure you take your time and don’t rush. A hastily decided outcome can almost be as bad as one where you have spent too long reaching a decision. Take enough time to evaluate all the information you have about a problem, even consulting experts if necessary, but never forget that it is your business and your gut feelings about the final outcome may be the right one after all. Take others’ opinions on board, but ultimately make sure that you are happy with your final decision, and your company will flourish from the outset.