COVID-19 early days for Managed Services Providers

Good afternoon! It’s a rainy and dark day here in Chicago. Yesterday we had an amazing webinar around the topic of COVID-19 Communication Strategies. We were able to hear from lots of folks regarding their thoughts and planning.

We learned that there is a lot of optimism. CEO’s of MSPs are not blind to the fact that their clients face a lot of challenges and that could impact revenue and profits. We learned that the optimism is based on the fact that they know that IT is an integral part of every business and that this is the moment to truly step up and be trusted business advisers.

Leadership is called for

MSPs will be with their clients now more than ever. The sheer effort of converting millions of workers to a remote work environment is incredible. Your leadership, decisiveness, and expertise is exactly what will allow your clients to confidently make that transition.

Security of data and access is now more important than ever. Your clients will be expecting and valuing your communications. Upgrades to security devices and protocols are anticipated to be more widely accepted.

You will support your communities and clients fairly and professionally. You are still not a “non profit.” You will need to charge for overages, charge your fair margins, and charge for your guidance. You might need to be as flexible with payment terms as possible. You might need to work with your vendors for that same flexibility. We won’t know for a while how distributors and vendors will behave but you can start the ball rolling by offering terms.

A key phrase an attendee share with us was “reduce and extend.” Your clients might have a knee jerk reaction to the fear they are feeling. They might look to “suspend” or cancel services. It does not have to be an all or nothing. Look to creative solutions to meet them half way. Can develop a form for them to fill out and extend contracts with a reduction in billing fees if they meet certain criteria. Can you proactively contact your clients to discuss arrangements?

These are unprecedented times. You will need to think creatively. You will need to over communicate, and you will need to remain calm. Some MSPs will thrive during this period. Some will go out of business. Some will have their growth halted. Be fearless when others are scared and be scared when others are fearless. You decide how you will fair in the coming months. No one else!

Our consultants are here for you whether you are a client or not. We have spoken to over a hundred MSP’s in the last 7 days. Let us share with you what we are learning.

Or just call 212.300.3016