Your MSP business is transitory, or it will become an institution. Which direction you go will depend on how far-reaching your vision is. Consider succession. It’s not just about who takes the reigns of power when you decide to retire; it’s about how employees climb the corporate ladder. Following are some succession tips to help you most effectively manage operations going forward:
- Establish succession protocols
- Facilitate transparency throughout the process
- Use experience and results for refinement
Establish Succession Protocols
Your MSP business will transition given time, and ideally, that will be a positive thing. If you don’t have succession best practices in play, they’re not going to establish themselves. You don’t want to be forced into paying someone who doesn’t deserve it a higher salary through dint of improper protocol provision. Figure out what you need, look at peers, look at competitors, and put something in place. You can always refine it going forward.
Facilitate Transparency Throughout the Process
Say you’ve instituted a succession plan but suddenly realize there’s an error. Well, follow through on whatever season you’re in and inform all staff about the necessary changes going forward. Be transparent; this facilitates trust and sustainability over time.
Use Experience and Results for Refinement
As time goes by, you’ll learn which tactics are more or less effective. Ensure you keep numbers on results. Ideally, someone who succeeds to a higher position will contribute more to your company going forward, and their ascension will be justified.
Figure out what you did wrong, and avoid doing that again. As you go forward, establish better and better means of managing information, and so facilitate increasingly effective succession.
More Reliable Operations
Your MSP business will sink or swim based on how well it’s operated. Consider existing practices, existing succession policies, and where they may be optimized. Experience and results help refine, transparency gets everyone on the same page, and getting started now is essential if you haven’t already.