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Are you a member of an MSP peer group?
If you are, then maybe you don’t need to read the rest of this blog, you’re already totally on board. If you’re still here then great, let’s talk a little about MSP Peer Groups and how they can help grow your business.
Before that, I wanted to share my first experience with a peer group. It was in the United Kingdom in a seaside town called Brighton*.
Without mentioning the name of the group or the MSPs in attendance, I can tell you that it totally blew my mind.
These people weren’t just along for the ride, they weren’t there for social niceties; this was serious stuff. Members seemed to be totally open book and these MSPs were delving into the others’ businesses and asking the really difficult questions. And then it hit me – these aren’t really peer groups at all, they are accountability groups!
Anyone can attend a meeting and announce a promise to do better. Saying the words is the easy part. Peer Groups document your promise and ask you about your progress the next time you meet. They want to know how it went, if you made the change, and if it improved things. From my experience, nobody wanted to return to the next meeting having not delivered on their promises.
Most MSP Peer Groups (in the US they’re often called Mastermind Groups) attendance will be around 10 members. Membership stays fairly static so that, over time, attendees grow really close – personally and professionally.
It can be daunting at first to open up like this, especially as these businesses can be seen as competitors, but most peer groups will match you to people from other parts of the country or indeed world. Further, in a well-functioning Mastermind Group, members don’t view each other as competitors, there is enough business for everyone to be successful. Helping one member improve their business helps all members improve their businesses too.
Another potential benefit to these groups is that it can make your MSP more attractive to acquisition. I know of at least one private equity company that will only purchase an MSP that is part of a Peer Group as they know what they are getting – a well run MSP.
I am not affiliated with any MSP Peer Group at all, but some examples are ConnectWise IT Nation Evolve, Taylor Business Group, The Network Group, MSP Ignite, CompTIA, and ASCII Group. There are, of course, many others. We have a Community here at JumpCloud that can serve as your Peer Group until you find one specific to your needs.
Is a Peer Group right for your MSP business? Well, only you know the answer to that, but my experience tells me that it might.
*Yes, I realize it’s now a city called Brighton and Hove, but it didn’t scan as well.
