Find your Vertical Market
Rarely do I find a Managed Service Provider (MSP) that does not know the vertical market in which they excel. If you don’t know yours, then you need to assess what you are good at, decide which deals were enjoyable and profitable, and set a plan in motion to own that market in your area.
Chances are good that this vertical found you rather than the other way around.
- Retail/Multi location
- Auto dealerships
Most MSPs have a vertical that they end up in, and great ones will have more than one. I’ve asked many MSPs how did they find their niche and was shocked when they said it was easy for them once they completed their first deal.
For example, I guided an auto-dealer to a friend of mine to get set up with MSP solutions for his first small dealership. It was an easy and profitable sale for my friend. It also made great money and the new systems were simple to install. My friend, the MSP, learned a lot about how auto dealerships work, what their needs are on the front and back end, what special integrations owners may need to run their company, and how those integrations could improve the dealership's day-to-day operations.
At the end of the project, he was given a great referral to use. That year, three more auto dealerships came to him to upgrade their systems or build new locations. Three years later, any local auto dealership looking to expand, or upgrade would call him first. He now owns that market in his city and even does chains of auto dealerships all over the country. Currently, he’s serviced 73 auto dealerships across the U.S.
As with any industry, there are many complex back-office wants and needs that must be integrated to give the customer an “in a perfect world” experience. However, we don’t always see those needs until we start digging into these type projects. The dealer from my example, instead of saying “No, we don’t do that” when faced with a challenge, he reaches out to a Master Solution Provider to get help finding solutions, creating the integrations, managing the project, and delivering a happy customer the customized needs to understand and run their company.
Eventually, he joined the National Auto Dealership Association and now attends all their events. Thanks to these efforts, he’s managed to grow his business by 53% in two years and only had to hire two new employees.
I can tell multiple stories like this for almost every vertical market, but the bottom line is none of these success stories were realized without the help of a true Master Solution Provider who engineered, demoed, integrated, and managed the project for the MSP. Whatever your vertical market, you can find solutions with a little hard work, commitment and the right solution partner.