The Importance of Making Sound Staffing and Vendor Partnership Decisions

The Importance of Making Sound Staffing and Vendor Partnership Decisions

In case you haven’t noticed, the Managed Services market size has been steadily growing for a while now. More specifically, the Managed Services Market growth is expected to top $240 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 10.8%. Part of that growth is being fueled by reduced operational costs and an increase in implementation of big data solutions.

Perhaps your organization hasn’t experienced the benefit of this explosion in growth yet. Perhaps you just aren’t quite sure how to seize this opportunity because you aren’t entirely certain what it is that’s holding you back from growing your managed services practice.

It doesn’t matter if you are new to the managed services model or are a long-established MSP; there are some issues all of us have faced at some point. For example, knowing when to work on the business versus working in the business is an important one. Figuring out how to market your business effectively is huge and you can save yourself a lot of time, stress, and money by figuring out how to do it well early on. You can read more about best practices for marketing managed services here.

With that said, two areas to focus on that will have the most direct impact on how effective your organization operates is staffing and vendor relationships.

The Importance of Making Sound Staffing Decisions

Let’s face it, staffing decisions can be some of the most stressful ones MSPs make for themselves. If you hire someone who turns out to be a bit of a dud, you now have to start the hiring process all over again – which costs time and money. Additionally, you have to figure out the most diplomatic way of terminating that first hire, or any hire really, so as to not waste critical company resources.

At the same time, be mindful of your staffing needs throughout the year because you never want to be caught short-staffed. Always being adequately staffed as necessary means you’ll be able to more effectively manage additional clients and sources of revenue.

When it comes to staffing, just remember it doesn’t have to be such a headache to find the best people to work with. If you ever feel like you haven’t found that perfect fit for your organization, outsourcing is always an option before making a more long-term investment in someone.

Forge Better Vendor Partnerships

It’d be nice if MSPs had the luxury of being incredibly picky in regards to vendors they choose to do business with. Unfortunately, that is not always the reality of the situation, so you make that lemonade we hear so much about. However, there are steps you can take to ensure vendors you decide to do business with are a better fit across the board.

The right vendors will help any great MSP grow, so before agreeing to any vendor relationship you need to make sure their way of doing business meshes well with your own. It’s no fun when you are constantly bumping heads with anyone, especially vendors you rely on for quality products and services.

Another key thing you’ll want in a good vendor is flexibility. This means flexibility in pricing and billing, as well as the flexibility to accommodate and work with you on unique requests. Vendors who show a willingness to say “yes” or are of the mindset they can figure anything out with you are incredibly valuable for any MSP.

So, if you are ready to take advantage of this growth explosion and increase revenue by being a trusted advisor to your clients, make sure your internal operations are solid first.

 

Want to learn more marketing and sales techniques to sell on value and increase your profitability during difficult economic times? Get The Best I.T. Sales & Marketing BOOK EVER!

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Posted in: General Business

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Stop Wasting Time and You’ll Make More Money

Stop Wasting Time and You’ll Make More Money

We all do it – waste time that is. There are a variety of tools, software, and ‘systems’ available geared towards helping people (and companies) become far more efficient with time management. Unfortunately, not every employee or client has great time management skills and it doesn’t appear to be something heavily focused on at any level of education. So, what that means is there is greater pressure on you as the Managed Service Provider (MSP) to keep your act together.

Time wasted by MSPs means you’re missing out on potential revenue from new and existing sources. What can you do? Well, a number of things actually. Let’s take a look at the ways in which you, as the MSP, can become better at time management and make more money.

Better Project Management

Short of telling you to simply stop wasting your time, one such way of wasting less time is becoming a better project manager. It is absolutely critical projects go off without a hitch and clients understand the timeline put in place is what will be followed. It wouldn’t hurt to look into project management resources, such as what SPC International offers, but you still have to actually follow the steps. Better project management allows you to stick to firm deadlines, impress clients with how on top of things you are, and be able to move seamlessly from one project to the next because everything has been properly planned out.

How Do We Waste Time at Work?:

  • 48% surfing the web
  • 33% socializing with co-workers
  • 30% conducting personal business
  • 19% making personal calls
  • 15% taking long lunch breaks
*Source: Time Doctor

Create and Follow an Effective Managed Services Marketing Plan

We’re sure you’ve heard this from others, as we have many times ourselves, but for some reason some MSPs seem to believe marketing is easy. Hate to break it to you, but it’s not. For starters, you are going to waste a lot of time cold calling and sending out emails without much success because you likely haven’t properly identified your target audience – the people who are most likely to be interested in your services as an MSP. Then of course there’s figuring out what type of marketing you should be doing (direct response should probably be at the top of your marketing to-do list). Needless to say, it isn’t as easy as it may seem.

Creating a successful Managed Services marketing plan is the first step in producing consistent, dependable leads that can lead to consistent business growth. No more cold-calling, no more wasted efforts on activities that cost you more in time and money than what it gives back.

Take a Break…Seriously

It may seem counter-productive, but taking a break every once in a while is actually a good thing. As an MSP, it can be easy to get caught up in the mountains of things you believe you have to do or accomplish in any given 24-hour period. Instead of getting caught up in a vicious cycle of exhausting all mental and physical energies each and every day, force yourself to only work on one thing at a time, and to actually stand up and walk away for 5-10 minutes every once in a while so you don’t burn out.

Countless studies on productivity have concluded that we are far less efficient workers when we’re taking on too many things at once. Instead of focusing on doing one thing really well at a time, we end up doing a mediocre job on three or four different projects because we’re jumping from one to the other before really completing anything.

So there you have it. If you want to become a more productive MSP and make more money as a result of wasting less valuable time, this is a good place to start.

 

Want to learn more marketing and sales techniques to sell on value and increase your profitability during difficult economic times? Get The Best I.T. Sales & Marketing BOOK EVER!

Or sign up to grow your business with a FREE IT Business Builder Training and Resource Center Subscription.

Posted in: Secrets to improving an I.T. Services Practice

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