I write this article as the Western world goes into full lockdown.
Most MSPs & IT companies have never been busier. Setting up clients for god knows how long to "work from home".
We've all been inundated with request for monitors, VPNs, access to office servers & VOIP.
There is a massive problem on the horizon, the economy. In the back of your head:
- You know that there will be a substantial change in everyday life.
- You know a number of your existing clients will disappear overnight.
- Growing your MSP with new leads and sales is going to be the thing of dreams.
What is the solution I hear you ask?
In this article, I'm going to detail exactly how your MSP can thrive in the current environment. As a bonus, I'm also giving away "Bear Attack SEO for MSPs" to get you started with one of the biggest opportunities you have right now.
The Greater Depression
What we are entering right now is not a recession, not a depression but something bigger.
As governments flood economies with currency in an attempt to keep things running as normal all of our hard-earned cash will be wiped out in hyperinflation. It's just a matter of time to see all of this unfold.
The global financial system is goosed.
With that fact now in your brain let's take a little look at the history books, surprisingly the best place to learn is the story of Kellog
How Kellogg won the cereal wars of the Great Depression
In the late nineteen-twenties, two companies—Kellogg and Post—dominated the market for packaged cereal. It was still a relatively new market: Ready-to-eat cereal had been around for decades, but Americans didn’t see it as a real alternative to oatmeal or cream of wheat until the twenties. So, when the Depression hit, no one knew what would happen to consumer demand. Post did the predictable thing: It reined in expenses and cut back on advertising. But Kellogg doubled its ad budget, moved aggressively into radio advertising, and heavily pushed its new cereal, Rice Krispies. (Snap, Crackle, and Pop first appeared in the 1930s.) By 1933, even as the economy cratered, Kellogg’s profits had risen almost 30 per cent and it had become what it remains today: The industry’s dominant player.
This story highlights that whilst all your competitors are reducing their outgoing spending this opens up a big opportunity for you, specifically how you can leverage certain marketing channels.
The void which all businesses are helping create in ad spend is your opportunity to build a brand that will be known locally for years to come.
So how does this work for a technology business like yours?
Before I disclose the this powerful knowledge, let's look at the opportunities we have right over the next 24 months.
The sad fact is that debt collectors are going to be expanding in business over the next few years. Any associated industries like asset, liquidation, enforcement and security - that's where the money is heading.
Start putting together a list of local companies that fall into this category - this is your prospects list.
Funeral Homes / Churches
Funeral homes have already started steaming services in my area but I know for a fact that many will just not have the time or knowledge to implement digital services like this.
Sad but another category for your prospects list.
This will be your bread and butter - healthcare is probably the safest industry to operate in right now. It is already going under massive investment due to demographics. The current Corona effect has just compounded the need to be an MSP operating in healthcare.
Ready? Here's what every MSP needs to know:
By far the biggest opportunity you have right now is in the "work from home" space.
The technology you've helped deploy to your existing clients is the easy part. Teams, VOIP, VPN....all easy.
The current opportunity is how you educate existing clients and prospects on how to work from home, specifically:
- How to be efficient when working from home.
- How to be productive.
- How to stay healthy in mind and body. (aka have fun!)
What makes this such a big opportunity for you is the fact that almost the entire workforce is undergoing the same problems.
IT Managers and head of technology do not have the answers to these problems. This is your chance not only to help your clients but start spreading your net even further as an MSP in the co-services space.
That is the space where you work alongside an existing IT department or Team providing support to the users.
As promised, you can get your hands on Bear Attack SEO for MSPs.
In it, we outline how to gain top position in the search results - perfect when prospects are investigating the local IT market space.
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