An MSP business isn’t a static operation. Any business must profit and expand to survive, this is doubly true in technology. Moore’s Law even gives a necessary expansion number to factor in. Every 18 months, tech doubles on itself. Following are a few tips to help you keep ahead of the competition through establishing a growth mindset which offsets the turbulent realities of the tech market:
An MSP business that quits expanding starts to contract. However, not all expansion need necessarily result in hiring new help. Consider initial employee acquisition with a built-in promotion strategy. You know you plan to steadily move those you hire up the ladder and ultimately into management.
This isn’t unreasonable to expect of tech professionals, it will maximize your internal investment in employees, and it will help ensure you hire the right people from the start. Careful hiring with an eye on future positions within your business facilitates more secure growth.
You need to make it possible for your team to experiment in varying ways. From software engineering to marketing outreach, there must be flexibility. Tech people have a passion for developing new IT solutions, marketing professionals like finding new lead streams and converting fringe prospects. Allow room for your team to take risks; just don’t let that experimentation provision overrule known successful best practices.
Continuously Educate Your Team
Technology’s rapid pace necessitates continuous education among your employees. Think of this cost as “overhead”, and even incentivize personalized research. When employees have the freedom to discover that about which they are passionate from the start, then they’ll often outpace available education materials, which is desirable.
An MSP business that continuously educates its employees, allows them to experiment, and promotes internally will do much to facilitate a growth mindset. The goalposts of technological profitability are always moving. In one way or another, it’s integral that you find ways to keep pace with it. Growth-oriented management can be key.