Your MSP business doesn’t need to come from investors with deep pockets, corporate think-tanks, or government contractors to become a billion-dollar, globe-spanning enterprise. Garages initiated Apple and Microsoft, and Facebook started out in a dorm room. You can self-fund an operation that becomes staggeringly successful if you go about it the right way.
Here are several tips to help you this direction:
- Quickly attain a product that is viable at a minimum cost
- Allow flexibility to lead operations naturally
- Failure: an opportunity to learn
- Constantly work to reduce and maintain low overhead
Swift Product Viability
Your MSP business needs a steady stream of income always available. The best way to do this is to have a product that makes money as immediately available as possible. This is your bread and butter, you branch out from here.
Roll with the punches. Your product may start taking you a different direction than intended— Mark Zuckerberg certainly didn’t expect himself to be the subject of a congressional hearing. However, Facebook is a social media cornerstone now. Your MSP could develop something that goes the same direction-but if you’re not flexible, you may brush aside billion-dollar opportunities.
Opportunities in Failure
You’ve got to fall before you walk, and stumble before you run. You have to “rip” your muscles, so they can re-knit together into stronger bodily components. Technically, these things are little failures. Each little failure is a precursor to success— if you pick yourself up and keep going. Failure is only total when you quit.
Your MSP should always optimize to reduce overhead expenses. Use new tech, maximize staff, reduce production costs, and continuously trim the fat. Every penny is necessary to keep swimming in the turbulent waters of modern tech.
A Lean, Mean, Profit Machine
Your MSP business will be more successful should you always work to improve it. Consider things as they stand, determine what can be fixed, and design your MSP to continuously better itself as a matter of operational protocol.