Could reviewing your IT solution provider or Managed Service Provider (MSP) businesses progress help you to transform that business?
As a former MSP owner, and a long-time business owner, I speak from experience when I say the business year runs by so quickly!
I am always surprised at the speed at which time has flown. And, I know this is a common feeling in the busy world of MSPs.
No doubt, we’re all collectively left wondering what to expect from the time ahead of us. But instead of simply wondering, why not take control by conducting a structured review of your business?
While I now longer run an MSP business, each quarter, my team and I sit down and do a business review. This is an important moment for us to reflect on what has happened and take the initiative to shape what will happen in the coming months.
Here are my thoughts on how you could implement something similar for your MSP business.
QBRs for MSPs
Quarterly Business Reviews (QBRs) are invaluable for MSPs because they strengthen client relationships. QBR’s can help you aligning your clients goals with your MSP services, showcase your value, and identifying opportunities to drive mutual growth.
I’d go as far as to say that QBRs are a proven method of ensuring clients get the best from your expertise and solutions.
Yet, despite QBRs clearly driving growth for MSP clients, I’ve observed that very few MSPs seem to do a QBR for their own business.
In my opinion, it’s a missed opportunity for you not to take the same principles of alignment, improvement, and value and apply them to your own operations.
When it comes to reviewing your own business, I’d suggest a structured conversation fueled by your passion to get things right for your MSP clients.
We work in an increasingly complex and demanding business world. After all, how can we expect to deliver the best for our clients if we’re not operating at our best?
The 3, 2, 1 Quarterly Business Review
Some time ago, I was introduced to the ‘3, 2, 1 Quarterly Review,’ which is based on three key questions, two main decisions, and one core action. It’s a simple yet powerful conversation that works whether you’re a solo MSP or a growing team.
The 3 Key Questions
- Regarding our services: What has been most popular and least popular in the past three months?
- Let’s look at our systems: What has supported our service delivery, and what got in the way of excellence?
- About our technical solutions: What has provided us with the best value, and what has been superseded with better alternatives?
The 2 Main Decisions
- Informed by those answers, what should we remove across our services, systems, and solutions?
- What should we retain and reinforce across all three areas?
The 1 Core Action
- Create a timetable of practical actions to complete the removal and reinforcement of your services, systems, and solutions in a timely manner. Break these actions into manageable steps and assign ownership to ensure accountability.
Why QBRs Matter for MSPs
I again speak from experience when I say that time is the most valuable resource for MSPs.
It’s all too easy to get caught up in the day-to-day demands of client work.
But taking the time to step back and evaluate your own business ensures that you’re not just staying afloat but thriving.
I believe that regular self-reviews help you identify inefficiencies, adapt to changing markets, and stay ahead of the competition.
To make it even more impactful, consider drawing a parallel to your client-facing QBRs.
Just as you aim to align their goals with your services, an internal QBR allows you to align your goals with your business’s evolving needs.
Use Your QBR to Celebrate!
My final recommendation for your business review is to approach it with a sense of celebration!
Recognising your achievements isn’t just about boosting morale—it’s about reinforcing a culture of excellence within your team.
So, what do you do that merits applause?
Well, maaybe it’s completing a complex client migration, achieving a new certification, or simply delivering consistently high levels of customer satisfaction.
Whatever it is, take a moment to celebrate those wins. Speaking as a Brit, it’s very un-British to “blow your own trumpet”, but my experience is that doing so benefits your whole team.
Celebrating wins has a practical benefit. It’s an opportunity to connect your team’s achievements with how they’ve positively impacted your clients and your business.
This can be incredibly motivating and sets the tone for continued success.
Conclusion
Running QBRs for clients is a tried-and-tested method of improving relationships and increasing the value you deliver to your Managed Service clients. But don’t stop there. Take those principles and implement a regular QBR for your own MSP business, too.
Use the ‘3, 2, 1 Quarterly Review’ format to guide your discussions, celebrate your wins, and make informed decisions that will drive your business forward. You’ll be amazed at how much clarity and momentum this simple process can provide.
Do you do regular business reviews? Do you follow the process outlined above, or do you have another method? I’d love to know what works for you! Leave a comment below or get in touch.
You Might Also be Interested in
- MSP QBRs: A Handy Checklist to do Better Business Reviews
- Why MSP Owners Should Schedule a Mid-Year Business Review
- How to Plan for the Year Ahead
Richard Tubb is one of the best-known experts within the global IT Managed Service Provider (MSP) community. He launched and sold his own MSP business before creating a leading MSP media and consultancy practice. Richard helps IT business owner’s take back control by freeing up their time and building a business that can run without them. He’s the author of the book “The IT Business Owner’s Survival Guide” and writer of the award-winning blog www.tubblog.co.uk
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