Many business owners dream of business growth with minimal effort. This leads them to look for quick hacks, but growth doesn’t come from finding a hack. It comes from putting real work into strategies and tactics that make sense. The following tips only help you succeed if you put effort into them—there’s no magic way to grow. With that in mind, let’s look at some often-overlooked ways MSPs can gain more profit and more clients. Remember, these aren’t quick fixes, but they are lower hanging fruit compared to more in-depth strategies. Let’s take a gander.
Focus Your Offering
Many MSPs think growth comes from adding new services to what they offer. We’ve even discussed how profitable it can be to add
disaster recovery services. Remember that if you add a new service, you need to do it well. You must be efficient and effective to keep clients happy, cut down on return visits, and maximize profitability. That’s why adding something outside of your core competencies (such as
data analytics as a service) is a long, tough path to growth. What’s often more effective is to specialize in something you’re already great at. If you understand HIPAA better than anyone, maybe that’s where you put all your chips. If you love
cybersecurity and can keep enterprises safe from anything, dig
even deeper and become the absolute best. People will find you, and profit will follow. Just look at some of the
fastest growing IT providers—what’s the common denominator? They focused on a niche.
Ask for Referrals
Realtors, dentists, and other businesses understand the power of referrals. Do you? Sometimes finding new business is as easy as asking. So, consider setting up a referral program for existing clients. First, decide on a reward for someone who refers business to you. It could be something simple like a gift card or some AirPods. Depending on the lifetime value of a solid client, it could even be worth sending the referrer on vacation. Next, you need to let clients know what you’re offering. Send an email or call them. You could even mail a flier. The point is to make them aware that you have some great incentives for them if they bring you new business. You might be surprised how effective it can be to leverage your network.Focus Your Offering
Many MSPs think growth comes from adding new services to what they offer. We’ve even discussed how profitable it can be to add
disaster recovery services. Remember that if you add a new service, you need to do it well. You must be efficient and effective to keep clients happy, cut down on return visits, and maximize profitability. That’s why adding something outside of your core competencies (such as
data analytics as a service) is a long, tough path to growth. What’s often more effective is to specialize in something you’re already great at. If you understand HIPAA better than anyone, maybe that’s where you put all your chips. If you love
cybersecurity and can keep enterprises safe from anything, dig
even deeper and become the absolute best. People will find you, and profit will follow. Just look at some of the
fastest growing IT providers—what’s the common denominator? They focused on a niche.