SVB, Compliance Advice for MSP Startups, is it time to lower your pricing?

Weaver Outrage Meter: Low

 

First, let's discuss Silicon Valley Bank (SVB). You may be wondering what does SVB have to do with managed services. Good question. Nothing directly ties SVB to managed services, other than there are a number of MSPAlliance members who bank there and may be impacted by recent events.

 

• Will SVB have any long or short term effects on the managed services profession?
• Is the SVB collapse an indicator of technology health?

 

Second, some advice for MSP startups. Much of the discussion around compliance and achieving certifications for MSP organizations has been focused on more mature MSPs. This needs to change.

 

Since the launch of Cyber Verify, we will be spending a lot more time dealing with the issue of MSP compliance, especially for MSP startups and less mature organizations.

 

• Make compliance an "everyday" part of your business
• Start with your policies and procedures documentation
• Use platforms like Cyber Verify to begin mapping your control gap areas so you have a remediation plan

 

Third, let's talk about managed services pricing. We mostly discuss pricing when we talk about raising them. But, let's just examine why an MSP might want to consider lowering their pricing.

 

• Price economics
• Security standardization
• Automation and other methods of lowering service delivery costs