Whether 2013 brought you record-setting success or presented significant challenges to your business, or ended up somewhere in between, it’s time to reflect on past results and kick off the strategy for the next twelve months. Most IT companies have probably already assessed the past year’s outcomes and made some adjustments to their operations and business practices. But just because January 1 has already come and gone, it doesn’t mean every change companies need to make to be successful in 2014 has already been implemented.
Improvement should be a constant focus of any business in any industry, but that attention is especially important for organizations that provide key support to other organizations. Solution providers’ clients depend on them to be ahead of the technology curve and to introduce new products and/or services that can help them achieve their goals and upgrade their business operations. In a competitive IT industry, the status quo is simply not good enough. Enhancement should be a continual objective that every solution provider is thinking about all the time – not just a topic of discussion every January.
Of course, the calendar often reminds entrepreneurs and managers to take some extra time to review their business and plan out their next few weeks, months and – for those who are particularly well-prepared – years. With all the assessment tools and on-demand performance information available to solution providers today, the analysis process can actually be quite simple and quick. With the assessment out of the way, business owners can shift more of their time and efforts into strategy development.
Past actions that brought poor results are often easier to identify and rectify than those that appear to be working well but could benefit greatly from some tweaks. The hardest part, according to experienced VARs and MSPs, is learning how to make the things that are good even better. Of course, that’s a core philosophy of each of the CompTIA communities. In addition to building stronger networks of peers and other experts in various technologies and business models, members of these groups share ideas and develop industry best practices that can help solution providers strengthen their businesses.
While the communities contribute a wealth of materials and programs VARs and MSPs can use to advance their operations, the blueprints to their success must come from within. That begins with an effective business plan. For companies without one in place, there’s no better time to formulate one, and they can uncover 90 percent of their needs by answering these four questions:
Who?
Before investing in new technologies or additional sales and marketing programs to reach new markets, solution providers must assess their existing capabilities. Could they secure additional contracts and increase profitability by developing new practices, or would it be more beneficial to expand the services they offer current clients? The “who” is typically a factor of how much investment is required to meet future revenue and profit goals – and the best place to spend it. CompTIA Research and Market Intelligence offers scores of reports, whitepapers, videos and other material to help identify those opportunities, each designed specifically for the IT channel. Providers can use these resources to identify the high growth and niche markets that offer the most promise for their organization.
What?
Solution providers have to assess their product and services portfolios on a continual basis to remain competitive. The value they deliver their clients can be quickly usurped by rivals with more extensive offerings and support services, so due diligence and constant customer communications are a must. Providers should periodically elicit feedback and engage in proactive business strategy discussions to uncover future system needs. That proactive approach gives them sufficient lead time to research and develop cost-effective and profitable solutions that can strengthen relationships and bank accounts.
How?
Improvements don’t happen without a plan. After identifying a need, a variety of processes need to happen, from ordering new equipment and onboarding new vendors to hiring and training employees. How can they successfully complete each task in the most cost-effective manner? CompTIA offers a variety of resources to help in each of these areas, including an extensive list of channel training programs that solution providers can use at their leisure. These live workshops, printed and downloadable training guides and business credentials are each designed by IT services professionals for IT services businesses, many resulting from CompTIA community member-led initiatives.
When?
No plan is complete without a timeline. Providers must set realistic expectations when implementing new services, expanding into unfamiliar markets or improving employee proficiencies. The schedule can be somewhat aggressive, but the important thing is for providers to hold those in charge accountable for their deadlines and evaluate progress and how to overcome obstacles on a regular basis.
When a solution provider has the answers to each of the questions above, his or her business plan should almost be complete. The details needed to accomplish each goal often come together easier than the strategy and, thanks to the peer communities and CompTIA, a collection of best practices is available to address the most common procedures. With all the resources at hand, it shouldn’t be hard for solution providers to better navigate the channel and take advantage of some unique new opportunities in 2014.
Brian Sherman is founder of Tech Success Communications, specializing in editorial content and consulting for the IT channel. His previous roles include chief editor at Business Solutions magazine and senior director of industry alliances with Autotask. Contact Brian at [email protected].
