It’s easy to get trapped in a “lifestyle business” mode, where you end up just having a job rather than a scalable, sellable business. This often happens when you focus solely on what you enjoy — like tech or sales — while neglecting critical business functions.
However, there are several ways to avoid that trap.
1. Understand the Full Scope of Business Needs
Even if you excel at tech or sales, do not overlook essential business functions like accounting, marketing, and sales. A business needs a strong foundation in these areas to thrive beyond just your daily involvement.
2. Complement Your Strengths
Surround yourself with professionals who excel in areas you’re less skilled in. Some of those include:
- Finance: Engage a financial advisor or use specialized accounting software.
- Marketing: Consider marketing experts or platforms that offer comprehensive strategies.
- Sales: Leverage sales training programs or tools to boost your effectiveness.
3. Leverage Industry Resources
The MSP industry offers various resources to help with business functions:
Terry Hedden
- Peer Groups: Join groups to enhance profitability and business acumen.
- Conferences: Attend events to gain insights into effective marketing and sales strategies.
- Vendor Programs: Use vendor programs that provide business growth support and resources.
4. Assess and Address Weaknesses
Regularly evaluate your business:
- Operational Review: Are you spending more time working in the business rather than on it?
- Skill Assessment: Are you neglecting crucial areas due to lack of interest or expertise?
5. Invest in Growth
To transition from a lifestyle business to a robust, scalable operation, invest time and resources into building a competent finance, marketing, and sales team. A well-rounded approach is crucial for sustainable growth and success.
Balancing Act
Being a successful MSP CEO requires balancing service delivery with effective business management. If you find yourself struggling, it’s often a sign that you need to strengthen other areas of your business. Remember, there are ample resources and experts available to help you build a thriving, scalable business.
By focusing on these key areas, you can transform your MSP from a lifestyle business into a well-rounded enterprise capable of significant growth and success.
Terry Hedden is CEO of Marketopia.
This article was updated on 7/14/2025.
Featured image: iStock
