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Channel Blog

 

Tip Of The Month March 2018

Posted by Joe Schiavone on Mar 29, 2018
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Breaking The Glass Ceiling

During my travels, I’ve met with literally hundreds of MSPs across the country, and I always ask them the same question: “How long did it take you to become successful, and what was the pivotal point in your business that was the breakthrough?”

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After all, companies of all sizes can reach “good” at some point, but how do they get to “great”? They hit a benchmark revenue and spend the next 5 years struggling to maintain that level of revenue when they should be growing even further.

If this describes you, then the time has come to sit down with trusted and successful people in your industry and put a plan together.

  • Examine your industry. Are you walking away from business because you’re not staffed for it? Are you missing out on opportunities because you shifted your business model in a totally different direction? Take a close look at where you could be missing out on chances for increased revenue.
  • Examine your competition. Did you know you can buy up your smaller competition without having the capital to do it? Mergers and acquisitions are not as complicated or as expensive as you might think.  That is one of the quickest ways to increase the size of your company and revenue stream.
  • Examine your revenue sources. Does your industry benefit from certain types of revenue? For example, IT and VAR companies require that 50% of their monthly revenue be re-occurring revenue, while only a small percentage comes from hardware sales and the remainder from service. This balance will allow you to move your business forward.
  • Examine your allies. You’ve probably heard of Strategic Partnerships. This is when companies team up, providing resources and services to each other for everyone’s benefit. This is more than just a common buzz word, it’s a way to take advantage of available resources to improve each other’s revenue streams.

Master Solution Provider wants to be your ally. We will cut your operating costs and help you expand into areas you never considered, including cyber security, SD-WAN, circuits, UCASS, video, and more. We give companies the ability to take on new UCaaS and CCaaS projects, without the heavy burden of too many vendors or the complicated work of getting employees certified in various arenas.

The bottom line is this: work smarter, take things one step at a time, and build a roadmap for success.

“WORK ON YOUR BUSINESS, NOT IN YOUR BUSINESS.”

Next month I will elaborate on this topic further and share my knowledge on breaking the glass ceiling and bringing your business to the next level.

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JOE SCHIAVONE 

Director of Channel Sales,

LANtelligence

Topics: Channel trends, Tip of the Month