MSPs organizations are businesses, and like most businesses have goals. One of those is usually making money. The biggest way to cash in could be when you sell the whole company.
Getting your company ready to sell takes a tremendous amount of discipline – and this rigor is of benefit whether you ultimately sell or not.
Rick Murphy, CEO of Cogent Growth Partners which helps MSPs find acquisitions, says it is never too early to get your company ready to sell. “Most business owners don’t think about their exit plan until it’s too late to do anything about it, and they unknowingly miss all of the benefits that can come from having the plan in place from day one. While it might seem outlandish to be contemplating an exit while your business is young, professional investors know you don’t invest unless you understand how you are going to exit, and small business owners can benefit from this thinking,” Murphy argues.