Ever feel like your MSP business is under siege? You’re not alone.
Private equity (PE) buyouts are on the rise, with PE firms looking to sink their teeth into MSPs’ juicy recurring service revenues. When you consider the market opportunity—with the managed IT services market expected to reach $174 billion by 2028 in North America alone—it’s no surprise that this boon to MSPs also puts an acquisition target on their backs. MSPs need to optimize their business to max out their valuation if buyers come calling.
Competition is also fiercer. So fierce, in fact, The Evolving Landscape of the MSP Business Report 2023 shows that, compared to the previous year, 25% more MSPs surveyed say “increased competition” is a challenge they face. This was by far the largest percentage increase of any concern.
And let’s not forget the hackers, as if we could! Cyberattacks are accelerating at an alarming rate. According to Cybersecurity Ventures, a business falls victim to a ransomware attack at least every 14 seconds.
The key to surviving and sustaining business growth for MSPs amidst this intensifying threat landscape is visibility. Visibility across your security stack. Visibility into your clients’ security postures. But even more than that, visibility into best practices for business management – financial management, effective go-to-market strategies, pricing and procurement models, and much more.
Put Your Oxygen Mask on First
We’ve all heard the safety announcement before a commercial flight. In the unlikely event the airplane cabin loses pressure, you’re instructed to secure your own oxygen mask before helping others. Why? You’re not much help if you can’t breathe!
The same principle applies for the life of your MSP. You can’t effectively service and protect your customers if your business isn’t efficient, resilient, and secure. Only when your organization’s health is assured can you innovate on behalf of your clients and grow your business.
By mastering financial management best practices, MSPs can ensure their own operational performance and security, strengthening their position in the market. It’s well-known that many MSPs struggle with sales and marketing efforts; by honing their understanding of marketing strategies and sales tactics, MSPs can find the optimal go-to-market approach. And by understanding what makes for a seamless customer experience with simple, clear pricing models, MSPs can better acquire and retain satisfied clients.
See Clearly With These Three Fundamental Solutions
As the Active Cybersecurity leader, the team here at Blackpoint is always exploring ways to help our customers and the wider MSP community to get – and stay – ahead of their greatest challenges. With that in mind, we’ve introduced several new offerings to help Managed Service Providers see clearly to sustain growth.
- Blackpoint University is the only free ‘MBA for MSPs’ program, offering practical advice from peers and industry experts who have scaled successful businesses through sales, marketing, and financial practices. Best practices and insights into MSP business fundamentals help you clearly visualize the steps you need to thrive. You can enroll here now.
- A new simplified pricing model makes endpoint management easy. With transparency into pricing, MSPs can cost-effectively and flexibly provide Blackpoint cybersecurity solutions to more customers, minimizing admin time and maximizing margins, while enabling a more seamless overall customer experience. Request a quote to learn more.
- Blackpoint Community Protection Program lets you enjoy internal-use NFR licenses of the comprehensive Blackpoint Response security bundle, including 24/7 SOC support that responds on your behalf. With your business protected, you can focus on your customers. Sign up at no cost here.
Ready to see more clearly?
Learn more about our new solutions and how they can help you start seeing clearly to grow today.