FUD: what does it mean? Should you use it in your MSP practice? And, is there a risk to using FUD style tactics? Fear uncertainty and doubt, otherwise known as FUD, may have been created by IBM sales professionals in the 1970s, but it certainly is still being used today by many sales and marketing professionals beyond IBM. Takeaways FUD (fear, uncertainty, doubt) is a sales and marketing tactic that aims to create fear and doubt in the minds of customers or prospects. While FUD can be effective in transactional deals, it may not be suitable for the managed services profession, which relies o ..read more

I had the opportunity to play golf with an executive who shared some very insightful perspectives about risk, cyber insurance, and MSPs. The interaction was completely by accident but the information I got was invaluable. End-users’ perspectives on Managed Service Providers (MSPs), particularly in the context of cyber risk and insurance, are increasingly significant as cyber threats evolve. MSPs are often seen as a crucial defense mechanism, offering a range of IT and cybersecurity services to help organizations manage and optimize their technology infrastructure. With cyber insurance premium ..read more

Cyber Verify program expands tools for certifying MSPs and enabling MSPs to deliver state-of-the-art compliance solutions, regardless of organizational maturity  Chapel Hill, NC – March 5, 2024 – MSPAlliance®, the global industry association and certification body for the Cyber Security, Cloud Computing, and Managed Services Provider (MSP) industry, today announced new enhancements to its Cyber Verify compliance program for MSPs and cloud providers.  Cyber Verify, built by MSPs exclusively for MSPs, is a program designed to help MSPs achieve compliance, MSP operational maturity, impr ..read more

For a lot of MSPs, trying to convert reactive (i.e., break/fix) clients into proactive (managed services) clients can be a struggle. No matter how hard you try, those reactive clients just won’t budge. Fortunately, there is a pretty effective technique you can use to begin to impress upon your reactive clientele all the benefits and reasons they would be better off as a managed services client. Step 1: Communication. You have to have a conversation with your reactive clients about everything. Times are changing. Everyone is taking cybersecurity more seriously these days. Explain how reactive ..read more

The term EBITDA is not something a lot of MSPs fully understand or use regularly. As a financial tool, it is worth knowing how it is used and why. But, should you use EBITDA as a metric for managing your MSP practice? Maybe, maybe not. To answer this question, we must define EBITDA, look at how it is used within general accounting, and more specifically how it is used within MSP M&A and investing. Only then can you know whether EBITDA is something you should use regularly as a guidepost for running your MSP practice. What is EBITDA? EBITDA stands for Earnings Before Interest, Ta ..read more

A lot of MSPs spend the majority of their time focused on revenue growth, and for good reason. If you’re not growing, you’re shrinking. But, not all revenue is the same. In fact, some revenue types may actually be harming your managed services growth. Confused? Don’t be. There are some really simple metrics you can use to begin aligning your MSP practice towards a pro-growth future. Revenue Mixture: What is it? Proactive IT offerings (i.e., your managed services deliverables) Professional services (non-recurring services such as consulting) Hardware & Software Revenue Mixture and Why ..read more

Australian ransomware ban inevitable Australia is making significant strides towards what could become an outright ban on ransomware payments. How will this news impact MSPs? MSPs need to be upgrading their managed services policies, practices, and customers, preparing for a future where ransomware payments are no longer allowed. The writing is on the wall and there can be no doubt about what is coming. How can you prepare? Update your MSP policies today! Communicate coming changes to customers Revise your service catalog, pricing, and contracts Set a switchover date and stick to it! My adv ..read more

It’s that time of year again. Time to review the past year and look to the future and predict what is likely to happen. The MSP world is changing more rapidly than ever before. Let’s take a look at what 2024 has in store for the MSP profession. Ransomware Responses Changing: MSPs (and customers) have to look at ransomware in a very different way in 2024. As numerous governments worldwide continue to march towards inevitable prohibition of ransomware payments, MSPs need to adapt to this evolving threat response and develop new service delivery models to help their clients prepare for breaches ..read more

“The payment of ransoms at the moment is effectively businesses around the world funneling millions and millions and hundreds of millions, probably billions of dollars into criminal gangs who reinvest that money back in their capability,” said the Australian Minister for Home Affairs and Cyber Security Clare O’Neil.  Even if you are not an MSP (Managed Service Provider) practicing in Australia, the statements made by the Australian Minister should be of concern to all. It highlights a global trend of governments shifting policy away from the norm of making ransomware payments.  For M ..read more

MSPs vs Vendor Controlled Remote Access The FBI advisory to private sector industries was released and raises some interesting questions regarding MSPs. While not specifically mentioning MSPs by name, the advisory covers general threats from ransomware and how they are being executed. Doesn’t mention MSPs, but they are clearly being addressed in this notice 3rd parties and legitimate system tools All the guidance the FBI provides is already well established in the MSP Verify program Unmanaged vs Managed IT Unmanaged Devices – still think break/fix is an effective IT management model? “80 to ..read more