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When it comes to building and selling a managed services provider (MSP) business, I'd trust a handful of names for advice.
buy sell mergers acquisitionsWhen it comes to building and selling a managed services provider (MSP) business, I’d trust a handful of names for advice. One of them is Jim Lippie, the new executive VP of business development at independenceIT. Lippie previously built and sold Thrive Networks to Staples (NASDAQ: SPLS) — then he stuck around five years to integrate, run and expand that managed services business practice for the retail giant. How did Lippie do it, and what advice would he offer to today’s MSPs? Glad you asked.
By all accounts Lippie and his team succeeded pre- and post-M&A. Indeed, Thrive Networks has been a top member of our MSPmentor 100 list over and over again. In a FastChat Video, Lippie offers some practical advice to MSPs that want to succeed independently and/or build a business to be acquired.
Here’s the video:
Some Lippie’s advice is basic — start with PSA (professional services automation) and RMM (remote monitoring and management) software to automate and track your services. But listen closely and you’ll hear some key advice to help you build a sustainable business that may even attract buyers. Success, he concludes, isn’t only about attracting and retaining the right customers. You also have to prove that you can attract and retain the right employees.
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