“Those who fail to learn from history are doomed to repeat it.”
These wise words from Winston Churchill are worth bearing in mind when considering how to collate a High Growth Blueprint for the Technology Sector.
Managed Services are rapidly approaching the position of being the number one source of revenue growth within the technology industry according to a report published by TSIA (Technology Services Industry Association). In the report – How to Avoid the 5 Most Common Mistakes Made in Managed Services – TSIA’s George Humphrey, senior director of research for Managed Services, states that companies which don’t already have a managed services strategy are already behind the curve.
This absence, and then subsequent urgency to create one, is causing many companies to rush to market too quickly with Managed Services offers which aren’t thought out properly, leading them to enter uncharted territory without a clear plan of action. This in turn leads to mistakes, some big, some small, some innocent, and some harmful.
Any of these mistakes, or a combination, can prove fatal to a company’s chances of success within the MSP industry. Here are the top five which prevent companies from achieving their High Growth Blueprint:
- Mistake #1 – Lack of Understanding
- Mistake #2 – Portfolio Confusion
- Mistake #3 – Same Old Sales
- Mistake #4 – Underinvestment
- Mistake #5 – Poor Organisational Structure
Drafting up your blueprint to create a Managed Services strategy should be the founding activity for any company considering a move to becoming an MSP but also for those already operating within the industry as one. It is also one of the most beneficial as it allows you the opportunity to go through the list of common mistakes above and avoid them.
The path to a successful managed services business requires commitment to a cultural transformation. You will have to get to know your customers more deeply, which means your your sales team will have to take a very different approach. You will also need to make investments in tools, technologies, processes, and people that you may not already have in place. This will take time, patience, and perseverance.