One of the recurring themes we see on CloudTalk as well as channel publications like Business Solutions is the struggle IT solution providers go through when getting into managed services. When I first met Michael Kraner, CEO of managed services provider Primary Support and co-founder and director of MSP consulting firm MSP CFO, I initially wondered if this company was an exception. The MSP has earned several accolades over the past couple of years, including a top-200 ranking in the 2013 Ingram Micro SMB 500 list (in addition to a top-40 ranking in 2012), a ranking among Inc. magazine’s fastest 5,000 growing private companies in 2013, and the number-28 spot on this year’s CRN Fast Growth list.
Kraner shared with me that there were indeed struggles getting his company to where it is today, and one of his biggest frustrations was the lack of assistance he found early on from CPA firms, which simply don’t understand the MSP business model and the importance of a PSA (professional services automation) solution, which has useful data that’s not captured in QuickBooks or other accounting software.
Once Kraner found the right help and was able to extract the real-time data from his PSA, he was then able to make a turnaround in his business that was so profound that it led to launching another company dedicated to helping other MSPs do the same. You can learn more about Kraner’s success story by reading “A Successful MSP Launches a New Business by Focusing on the Numbers.“