Written by: Charles Weaver, co-founder of MSPAlliance
Winston Churchill once said, “to improve is to change, to be perfect is to change often.” The entire world is experiencing profound change right now; so are the MSPs. I know MSPs are struggling, but the usual words of encouragement are not enough. MSPs need to stay in the fight. If MSPs drop out, the world will be less safe.
Small Business Struggles
The challenges business of all sizes are facing today are incredible and unprecedented. Included in that group are thousands of small and mid-sized MSPs who are dealing with their struggles to get through this pandemic.
While small businesses struggle, MSPs are doing their part to enable remote workers and keep them safe and secure. If it wasn’t apparent before, MSPs today are vital to the ongoing operations of thousands of organizations throughout the world.
MSPs Need to Survive The Next Few Weeks
While we are all in quarantine and hoping for a time soon where we can return to normalcy, MSPs need to remain tough and get through this difficult time. Instincts to shut down or downsize may feed the fear going around, but it would ignore the longer-term role MSPs will be playing as we return to work and begin the recovery process.
MSPs During the Corona Recovery
When things begin to normalize, there will be a long period of rebuilding. Yes, there will be challenges and things that need to change, but businesses will be scrambling to get back to normal operations. Just as MSPs experienced tremendous growth after Y2K, 9/11, and the financial crash of 2008, we are undoubtedly going to see a similar surge in demand for managed services in 2020.
The night is darkest just before the dawn.
Oli
Posted at 17:43h, 26 MarchThese are unprecedented times as you point out. We all experience a few crazy and very trying times in our careers and this is one.
I have seen plenty of opportunity this quarter. It will be a record revenue and profit quarter for us, although the opportunities are looking different the last six weeks of the quarter vs. the first six weeks.
While revenue is not an issue, what we all have to be concerned about is getting paid in the next few months. Additionally, experience from the last recession has taught me to expect that we will see requests to reduce our fees monthly fees, either by doing the same for less or by reducing the amount of service contracted. Others will ask for lower hourly rates on services. There might even be an outright cancellation of service entirely, although our analysis of our top 20 clients does not indicate that will be a high risk for us.
As Charles writes, “Yes, there will be challenges and things that need to change, but businesses will be scrambling….” This means a lot of opportunity if we look for it instead of seeing only threats.