Virtually all MSPs, regardless of size or location, are aiming to grow and increase their monthly recurring revenue. However, for most MSPs, the owner is involved in too many things – sales, tech, marketing – basically the jack of all trades. So how do you grow when you are a part of everything?
Unfortunately, many MSPs remain in this rut. They tend to stick to what they know and keep doing the same things every day, only to find out year after year they are in the same boat.
So, what’s an MSP to do?
What if you had a magic lamp that you could rub and a genie would grant you that answer? Would you jump at the chance?
Well, start jumping!
I can tell you from many years of owning an MSP and working with MSPs that they remain in this rut because they continue to work IN their business and never take the time to work ON their business. I know it’s hard to try and find more time in your daily schedule to do something different, but it’s necessary or the rut will never end.
So, what are some great steps to start?
Start by tracking how you spend every working (not waking) hour so you can see where your time is spent. Record each task, when you did it and how long it took. Do this for a month and then review each task with the following steps:
1. Eliminate. Ask yourself, if I don’t do this task, what will happen? If nothing will happen, meaning profits will remain the same, nothing will break and no one will care, then it’s worthless. Delete it.
2. Simplify. If you didn’t eliminate the task, look at simplifying it. To simplify something, you need to be able to achieve the same result with fewer resources. Ask yourself, what can I do to achieve the same outcome from this task with less time invested?
3. Automate. If you didn’t eliminate or simplify the task, look at automating it. Simply look for tools that can do a job you complete manually.
4. Delegate. Delegate any tasks left on your list that you haven’t eliminated, simplified or automated. Ask yourself is this task repetitive, teachable and doable by others? If so, create an SOP for staff to follow and work with them to make sure that the steps are followed and everything is being done the way you want it.
I know this may seem difficult at first, but try it. I promise you can trust the advice of this Jeanne that helped to grow a 7 figure MSP.
If you want to learn more about how to grow your MSP give me a call or join our complementary Cloud Academy at CloudServicesForMSPs.com for guides, training and tips on how to increase your recurring revenue with cloud.
I Need A Magic Lamp To Grow My MSP!
