Things you may not be doing right now, but should think about…

Throughout history many businesses have faced large scale crises that have pushed them to their very limit, and while some crumble under the pressure, many have utilized the opportunity to transform and emerged stronger than before.

The current situation facing businesses around the world is perhaps the greatest crisis they will ever face, but those who will that make it out the other side will have at least one thing in common – leadership.

As an MSP leader it is crucial that you move forward with a renewed confidence and demonstrate to the rest of your team, how it is possible to adapt. We have highlighted four key areas a successful leader can focus on to help their business navigate this unprecedented time: communication, staff wellness, analysing risks, and planning for revenue loss.

Communication  

Keeping in touch with customers is key. They will be no doubt be facing numerous challenges at present, but by keeping them updated on what you are doing to help (such as ensuring remote working is secure and efficient), it can help mitigate some of their concerns and maintain your value as vendor. This is the time to be recognised as a vital vendor, rather than one that can fall by the wayside.

Staff Wellness

The best leaders will be instrumental in helping employees stay positive during a crisis, which is often critical to the organisation’s outcome. Maintaining employee morale and mental wellbeing will help boost resilience and ensure service levels are maintained, the more resilient employees are, the more likely a business is to thrive. Simple actions like offering staff a structured, confidential platform to voice concerns, communicating how the business is ‘weathering the storm’ and even sending care packs (coffee, biscuits, sweets etc) to the staff, will have a positive impact on their emotions and in turn, their productivity.

Analysing Risks

It is imperative that you have a solid handle on the risks faced by both your MSP and your customers, this will boost trust and enhance your partnerships. Identifying and reaching out to your ‘most at risk’ customers will help to cement your working relationship for years to come. By offering structured, qualified suggestions on how you can help them continue to operate and succeed, you stand a great chance of retaining their business in the future.

Planning for Revenue Loss

An unfortunate factor in any crisis, loss of revenue hurts businesses and this potential fall in funds needs to be addressed as soon as possible. Once you have analysed the risks that this situation presents, you can plan for potential revenue loss and develop tactics for recovery in the future. Losing customers isn’t ideal in any situation but there are a number of ways your MSP can mitigate the effects of this. Upselling and cross selling are great strategies for recouping lost MRR, as is a situation-based approach to winning new customers, where you demonstrate how your USPs relate directly to the current situation.

For more information and advice on leading your MSP through the Covid-19 storm, please do get in touch.