Happy World Entrepreneurs’ Day!

On August 21 of each year, we like to take a moment and reflect on the day that’s been coined to celebrate innovation and empowerment of entrepreneurship and leadership throughout the world. Entrepreneurship is vital not just for job creation, but a very essential and integral part of our economic growth and problem-solving. Today we’re celebrating the 30.2 million entrepreneurs who are running and operating small businesses in this country! So to do so, we wanted to hear some of our partners’ advice on running an MSP. We asked the question: What do you wish you’d known when you started your MSP that you know now?

This is what a few of them said…

I wish I had known about recurring revenues and what products to sell and how to sell them to get this MRR.

– George Monroy, President/CEO of Monroy IT Services

I wish I had fully understood the idea that ‘if you aren’t growing, you’re shrinking.’ Going from full tech to many hats that include sales, it’s easy to forget to fill the sales funnel when business is ‘just right.’

– Patrick Hoerter, Owner of Your Network Security

A few things: Hire for culture fit, know what numbers are important to track, seek outside counsel and mentorship, and standards and processes are your friend.

– Kevin Peterson, Owner of Peterson Technology Group

None of us is as smart as ‘all of us.’ The early days were ‘lone wolf.’ I believed you ask no one; figure it out by yourself. I learned, however, that that’s wrong, and to trust other IT people; ask for help when needed. And give help freely in return. The more you give, the more your get.

– John Rutkowski, CEO of Bolder Designs

Two things: 1) Real marketing! Referral marketing is good but direct mail, telemarketing and others are what keep growth going and profits increasing. 2) Read and FOLLOW ‘The E-Myth,’ which is to understand that YOU are the business owner and MUST transition from technician to owner for a real business. 3) Yes, I said two things, but I thought I’d give a bonus: Continue to learn from your peers. They have a wealth of history to share that you later can share with the new guys as they come along.

– Bill Wright, Owner of WCI Technology Solutions

I wish I’d known about The 20 because no one tells you that you’ll be working 80 hour weeks and not getting vacations.

– Rodney Sees, CEO of Accurate Computer Solutions

Borrowing money for expansion — don’t do it. Worse than drugs. Also, there are a million apps, tools, etc. out there to “support and grow your business.” Then, there are the basic tools — RMM, AV, Backup, Billing. Don’t confuse the things you NEED with the things vendors promise will make life awesome. Some of them will, and most of them won’t, but regardless, they will cost you a lot of money. Beware of metered storage and metered throughput. NEVER agree to a long-term contract for a product you “will grow into.” If you’re staring at $300/month for 50 licenses of something you only need 5 of, then it isn’t $6/month per device, it’s $60.

– Jim Bachaud, CEO of Stratocent Technologies

So there you have it! Hopefully this sheds a little a light onto what you can expect from running your own business as entrepreneurs. We think it’s important to listen to those who have tried it — if for nothing else, it brings attention to things you may have not yet considered.

Are you interested in becoming a Partner with The 20? Click here for more information!

Mother’s Day is this Sunday and, for many of us, Mom was our first life coach.

Our Mothers paved the way for what we’d become, so what better way to honor our Moms than to list some of the ways they’ve impacted our lives? Here are 6 members of our 20 family, each sharing a nugget of indispensable wisdom, courtesy of their Moms.

Enjoy!

Matt King, Channel Sales Rep.

[My Mom is] very punctual and instilled that in me at an early age. She would say, ‘It’s always much better to be an hour early than one minute late.’

– Our Channel Sales Rep, Matt King

Camden Rendon, Talent Acquisition Manager.

My Mom taught me that we all sweat salty and we all bleed red. ‘Treat everyone with the same respect, and don’t ever look down on anyone, because one day they might grow taller than you.’ ‘Say ‘yes ma’am’ and ‘no sir’ and always say ‘please’ and ‘thank you.’ ‘Don’t spend a lifetime on someone that won’t spend a minute on you.’ ‘Love fearlessly, and never forget to tell people you care about them.’ ‘It’s okay to cry, but pick yourself back up and put on a smile before facing the world.’

– Our Talent Acquisition Manager, Camden Rendon

Joe Parr, Manager of Backup and Disaster Recovery.

‘Always be there for your family, they are the only one you have.’

– Our Manager of Backup and Disaster Recovery, Joe Parr

Rudy Lucas, Marketing Program Manager.

My Mom, Martha Lucas, would always say, ‘Depend on no one. The only person that is going to take care of the old you, is the young you.’

– Our Marketing Program Manager, Rudy Lucas

Michael Copeland, Creative Director.

For me, my Mom was always big on respecting others. Which seems like the most basic of principles, and it is, but it was always an important lesson growing up; the top of the charts. Whether it was about respect being a two-way street, and that you needed to give it if you wanted it in return, or about how actually listening to someone is the sincerest forms of respect, my Mom drilled it (and continues to drill it) into both my Brother and me.

– Our Creative Director, Michael Copeland

Kayley Lantrip, Marketing Coordinator.

‘If it is in a song or a script, you’re allowed to say the curse word.’

– Our Marketing Coordinator, Kayley Lantrip

Happy Mother’s Day!

Want to join our awesome team? The 20 is hiring! Check out our open positions here.