It’s easy for technology solutions businesses to use labels like managed services provider (MSP) to define their businesses. However, you could be pigeonholing yourself by labeling your business model as one specific thing.
The reality is, you are likely doing way more than managed services. That’s okay! Embrace it, and don’t get hung up on that label de jour. Instead, think of your service offerings as individual practice areas at your business, instead of picking one of them to represent your business as a whole.
When you shake off business labels, and think of your technology practice areas, you’re shifting your mindset to allow for new opportunities, new practice areas, and more ways to grow your business.
What is a Practice Area?
A practice area is an entire set of processes, practices, and separate revenue generating stream in your business. They can even have their own dedicated staff members.
Labeling your company as an MSP limits your flexibility. Since technology changes so quickly, you have to constantly be on the lookout for new opportunities and innovative ways to keep up with client demands. Utilizing one specific term to define your company’s offerings can make it confusing for your prospects.
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When you diversify your service offering, and make managed services a part of that, you’ll be better equipped to attract and retain different kinds of clients that might not have looked to your business for their particular needs.
Focus on Differentiators & Added Value
There’s a reason your current clients are sticking around, it’s because you are really good at things that your competitors are not so good at. Those are your differentiators. Leverage those qualities and practices as a competitive advantage, and use them as a starting point to identify your current practice areas, and for ideas for potential new practice areas.
Focus on what makes your service different and valuable in marketing or other business related communications with prospective clients.
Figure Out What Prospects Want
Figuring out what services your prospects and clients want is a major factor in staying relevant in the industry. No one knows your clients as well as you do, so take advantage of the knowhow you’ve gained to come up with new practice areas that will strike the perfect balance of appeal and assistance for your customers’ businesses.
Whether you’re looking to grow existing practice areas or create new ones, ConnectWise® is your partner for every step along the way. We want to make sure that you’re supported throughout your endeavors. With best practices, education, and our community, the ConnectWise® Business Suite™ makes sure you’re set up for success.