Time to Die

There's some seriously sh1t advice out there for MSPs. (I can signpost you if you need?)

You need legit advice - not boring copy & paste stuff.

Keep following naff tips, and guess what the outcomes will be? You guessed it - you will be 'scaling to ￡1m' for the rest of your life (sorry, I know I promised to never mention that again....)

Here are 7 MSP Lies which need to die:

I must scale to ￡1m.

• (damn, again already...?)It's meaningless. Everyone drooling the same soundbite makes it a vanity metric. Forget it.

Clients won't sign multi-year contracts.

• They will - you just need to ask in the right way.

I must invest in AI.

• Is itt required right now? Sort your processes out first, then consider robotic automation. AI comes after that.

vCOI is part of Account Management.

• It's not; the two roles should not be confused or blurred.

Price increases lose business.

• If you don't increase your prices (or efficiencies) at least in line with inflation, your margins decrease. Price reviews should be annual. Value should be permanent and upward.

Sales & Marketing is expensive.

• You are doing it wrong if you spend less than 5% of revenue and have growth ambitions.

I will never exit my business.

• Yes, you will. And the sooner you prepare your business, the sooner you will have a brilliant, profitable, fun business - and the time to enjoy it for as long as you want to keep it.

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.......and to hear from someone who has been there and done it (no, not to ￡1m!). (Sorry, again).

(This Newsletter was sent January 12, 2024 at 11:00AM)

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Cheers,

Matt

PS: A well-planned exit will always be preferable to one forced on you by circumstances - you (probably) only get one shot!