Live Blog: 5 Keys to MSP Success from TruMethods, LabTech

Business Planning Process: Transform from a brick layer and build cathedrals. Start with a shared vision for the future of the company. Have clear direction for the company and employees. Provide a sense of purpose and build culture. For your processes, focus on vision (10 years), target (3 years), plan (1 year) and action (1 quarter).

Know What You Sell: Has what clients want to buy changed over the past five years? Pica says no. Everyone needs three things from technology — plumbing, support and strategy. Focus on the end result; make sure you have the right people and processes; utilize technology (don't sell it); limit choices and options; and bundle services. If you don't know what you sell — your support offering — then change.

Become Sales Focused: This has to be a company philosophy. You can't be world-class if you're not bringing in new customers at a predictable rate. Know your math (how much MRR you want, average deal size, close ratio, etc.). You need to have a process to generate and manage leads. Become accountable by having regular sales meetings. And have dedicated resources. Be realistic about your starting point on sales and marketing. Focus on warm lead sources (referrals) if your marketing list is weak.

Be Process Driven: LabTech CEO Matt Nachtrab said yesterday that great MSPs aren't born, they are engineered. Similarly, Pica believes you can focus on 5 delivery areas: Support, Centralized Services, Proactive Network Administration, Technology Consulting and Non-Recurring Service. For LabTech MSPs, Pica recommended that you review tickets, alerts and project plans at least once per month; build R&D alliances with peer MSPs that want to drive automation with you — do a call with them monthly to share best practices; leverage LabTech's training resources.

Gain Command: Over your business, delivery areas and roles in your business. Until you have command you can't put a plan in place to get to your target destination. Know how to read a financial statement. Know the numbers that ConnectWise and LabTech deliver, which ultimately show you the health of your business. Know the gauges. To truly succeed: Make sure everyone has clear roles and responsibilities; attach metrics to each role; track results.