MSP services are one of the largest growing industries right now. The MSP growth rate is currently 12.5% annually and should grow to an almost $200 billion industry by 2019. MSPs provide IT services and other skills to protect a company’s data and increase their efficiency.
MSPs Help Small and Mid-Size Businesses
MSPs become an important asset to a company when they want their businesses to run as efficiently as they can. Small to medium-sized businesses (SMBs) do not have the capital or size to run an IT department. With the growth and expansion of small to mid-size businesses, more companies need MSPs to manage their technology. Technology keeps getting more advanced and difficult for the average consumer and business owner.
To prevent system shut downs or interference between software, MSPs become more necessary. To put it simply, many companies do not have the skills to effectively manage their technology. Their computer data and software is vulnerable to hacking and system failure. SMBs know that they need to hire an outside source to manage the problems before they stop business in its tracks. Therefore, more companies are turning to hiring MSPs for their management capabilities.
MSPs and the Management of IT Systems
The most common thing MSPs do is manage IT systems. But, as the market grows, getting clients as an MSP becomes more competitive. The most profitable and hired MSPs manage IT systems and help manage the company’s operations as well. While success as an MSP can still happen by just managing IT systems, more companies look to MSPs who can analyze and manage operations to cut costs and make their company’s employees work efficiently.
Expanding beyond IT services is also additional revenue for you as a managed service provider. You can charge more money for the extra services and you become a more popular MSP choice because you offer more. This gives you an advantage over other MSPs because you can grow with the company’s changing needs. The good news is that the MSP market needs keep growing, but many independent MSPs don’t know how to tap into expanding their services. If you become one of the first in your area to expand your services to better operations, you could have lots more business coming your way.
MSPs Continue to Help Clients with Services
MSP services don’t end once a client signs up with you. The beauty of the situation is your services don’t stop. If a client buys a subscription from you to manage their IT computer systems and software, your services continue every month. This puts money into your pocket monthly and becomes a recurring source of income. You can provide additional services like training the clients and their employees how to use their new software. If you also offer operations management, after analyzing the data of their operations, you can offer the company consulting on ways to cut costs and work more efficiently.
The more services you provide, the more money you make. The more you do for a client the more invaluable you become as well. A client is not going to switch MSPs if you provide more services than one. If you already know IT management, analyzing the data of a company’s operations should not be too far out of your scope. To find better success as an MSP, expand the services you offer.
The MSP services market is growing worldwide. The United States is going to be the top nation in the world in revenue generated by MSPs. As an MSP, you can continue to grow with the businesses that need your services by increasing what you currently offer. Expanding to help manage business operations can ensure you are one of the top earners in your area. You should definitely capitalize on the growth of this industry that is going to grow to $200 billion.