The results are in!
IT Glue’s Global MSP Benchmark Survey consisted of nearly 60 questions, and we had a fantastic response. Now the findings are available in our comprehensive white paper, which you can download here.
One of the central themes of our analysis was to determine what a top-performing MSP looks like. Knowing that only around 20% of small businesses are sold – a harsh reality check for many business owners – we got to thinking about what it would take for an MSP owner to get their business into a position where they can sell it when the time comes to retire or change careers. After all, if you don’t find a buyer, then all your work was just for salary; in a perfect world, that sweat equity you put into your business would turn into real equity when you want to exit.
We call the top 20% of MSPs the Golden Quintile, and in our analysis of the survey results, kept coming back to this idea of “what differentiates the top performers in the MSP space from the rest?”
Here’s the good news: Most MSPs are doing well. The managed services model correlates with profit margins, and most MSPs are experiencing both revenue growth and healthy margins as a result. The glass is more than half-full for most of you. But where there are issues is the reality that the managed services business is highly competitive, and being one of the top-performers isn’t easy. There is no one magic trick that you need to do in order to become an exceptional MSP.
But there are some variables that move the needle more than others. To learn what the best-performing MSPs are doing differently, and what activities correlate with success more than others, download your copy of the Global MSP Benchmark Survey today.
Documentation is a source of competitive advantage. When your processes are well-documented, they move from being individual knowledge to team knowledge. You execute consistently, and do not waste time looking for information, because it’s always at your fingertips. Companies with a high level of documentation maturity enjoy higher revenue growth, increased cost savings and superior valuations. IT Glue can help you get there.