Real Talk from a Real CEO: Using SMART Goals in Your MSP Business Plan

Starting a Managed Service Provider (MSP) business is exhilarating—but it’s also a minefield of uncertainty. Between building service offerings, finding clients, and not imploding under the weight of it all, it’s easy to lose sight of long-term goals.

That’s exactly what Josh Peterson, CEO of Bering McKinley, sees all too often. With decades of experience coaching MSPs, Josh recently shared a candid conversation with a new business owner—a reminder that even seasoned executives can struggle when it’s their first time in the hot seat.

The takeaway? You can’t grow what you can’t define. That’s where the SMART goal framework comes in. It brings structure, accountability, and measurable outcomes to the chaos of entrepreneurship.

In this post, we’ll walk through exactly how to incorporate SMART goals into your MSP business plan—based on Josh’s real-world advice—and how to turn your vision into something tangible (and profitable).

Define Your Purpose 

Before you think about numbers, projections, or growth, take a step back and ask yourself why you’re starting this MSP business in the first place. 

• What do you value as a business owner? 
• Who are you here to serve? 
• What kind of impact do you want to have on your clients and your team? 

This is your purpose statement. It’s your north star, driving every decision you make. 

Here’s an example from Bering McKinley, a consulting firm for MSPs: “We exist to use our MSP knowledge to help MSPs increase revenue, achieve profitability, and grow enterprise value.” 

Your purpose doesn’t need to be fancy or perfect. Start simple. Remember, when things get tough (and they will), your purpose keeps you grounded. 

Pro Tip: If you’re not sure where to start, ask ChatGPT for examples and refine until it feels right for you. 

Establish a Vision for Your Business 

Now that you know why you’re in business, it’s time to decide where you want to go. 

What does success look like for your MSP in five years? Don’t overthink it or aim for perfection here. Just put some numbers on paper. Think about metrics like:

• Revenue 
• Profit 
• Headcount 
• Number of clients 

Here’s a critical mindset shift for new business owners: It’s okay if your vision feels ambitious or even a little scary. Stretch yourself beyond what feels comfortable. 

Your vision doesn’t have to be set in stone. It’s a target to aim for, a motivator that fuels your sense of purpose. 

Quote to Remember:

"You’re not going to say something crazy—but hopefully you’ll stretch beyond what you know you can easily achieve." 

Build SMART Goals for Your Objectives 

Once you’ve outlined your vision, break it into actionable objectives using the SMART framework. What makes a goal SMART? 

• Specific: Be crystal-clear about what you’re aiming for. Example: “Increase revenue to $1 million.” 
• Measurable: Can your progress be tracked? If you can put a number to it, you’re on the right track. 
• Attainable: Be ambitious, but ensure the goal is realistic for your resources and capabilities. 
• Relevant: Align your goals with your business’s purpose and direction. 
• Time-Bound: Set a meaningful deadline to keep yourself accountable. 

Here’s an example SMART goal for an MSP business:

“Increase annual revenue to $1 million within five years.” 

SMART goals turn your vision into a concrete, actionable plan. They’re the stepping stones to help you go from “dreaming big” to making measurable progress. 

Reverse Engineer Your Goals 

Once you’ve set your SMART goals, the next step is to figure out how to achieve them. This is where "grind math" comes in. Reverse engineer your goals to break them down into daily or weekly actions. 

Here’s how that works for a goal like earning $1 million in annual revenue:

• $1M/year = ~$83,000/month 
• If your average deal is $10,000, you’ll need 8 new deals per month. 
• With a 50% close ratio, you’ll need to send 16 proposals per month. 
• If 1 in 4 meetings leads to a proposal, you’ll need 64 meetings per month. 
• If it takes 10 touches to schedule a meeting, that’s 640 touches per month. 

Breaking it down further:

• 640 touches/month = 150 touches/week = ~30 touches/day 

When you know the numbers, you know what needs to happen every day to reach your goal. It removes the guesswork and ensures that your daily activities are directly aligned with your long-term goals. 

Pro Tip: Start tracking your activity in a CRM tool or simple spreadsheet to ensure consistency. 

Tie Back to Your Purpose 

Running an MSP business is hard work. Some days, the grind will feel overwhelming. That’s when it’s vital to reconnect with your purpose. 

Your purpose bridges the gap between the big vision and the small daily actions. It’s easier to push through challenges and stay disciplined when you're clear on why you started. 

Think of your business plan as a constant loop:

• Purpose ➝ SMART Goals ➝ Daily Actions ➝ Purpose 

This cycle is what keeps your business moving forward, even when progress feels slow. 

Action Tip:

Write your purpose statement where you can see it every day. Whether it’s on a sticky note, a whiteboard in your office, or the lock screen of your phone, keep it visible to remind yourself why you started this journey. 

Take the Next Step Toward Success 

Building a thriving MSP business doesn’t happen overnight, but with SMART goals and a clear purpose, you can set yourself up for growth and long-term success. Start with your purpose, lay out your vision, structure your goals, and break them into actionable steps. 

Success in the MSP space is about more than just numbers on a page. It’s about knowing where you’re headed and creating a business you’re proud of every step of the way. 

If you're ready to take the first step toward building your dream MSP business, start by applying these strategies to your business plan today! Remember, a plan without SMART goals is just wishful thinking—but SMART goals without purpose are just busywork. Align the two, and you’ve found the sweet spot for success. Take the guesswork out of scaling your business and unlock your full potential today—Learn more about BMK here!