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In a struggling economy, business owners look for new ways to reduce their expenses to save money and resources in order to remain competitive. Could managed printing services offer financial and time savings for a small business?
To successfully run a business, any business-cash flow management is key. In fact all other skills and strategies used to grow your business are of little importance if you are unable to effectively manage your cash flow. Managed service providers are not exempt from this rule. In fact MSP's have a certain advantage in that the very business model used in this industry makes it possible to manage cash flow somewhat easier than other businesses that do not have the same source of recurring revenue. Nevertheless, it is important for all businesses, managed service providers included to understand the difference between cash flow and profitability in order for the business to be successful long term.
If you are a small business owner and considering whether or not managed services will benefit your company, the answer is almost always- yes. There is little doubt that most small businesses can benefit from managed services, yet that in itself does not always justify the cost of bringing on a third party provider. Accepting that managed services providers can offer solutions to common problems found in small business operation, the real question is when does it make sense to switch from in house IT solutions to the next level which includes managed services.
Small business owners often find themselves in a position of trying to balance a limited budget while making sure they have the proper tools to grow their business. It is a challenge many business owners face, in that they recognize the need for additional products or services that will allow their business to continue to thrive, however funds are in short supply to achieve these goals. This is especially true today, when small business owners find financial institutions are less willing to extend credit in the current economy.
If there is one thing most small businesses can agree on is that time equals money. Small business owners are in a position where they have to be a jack-of-all-trades, often spending most of their day wearing different hats. This is the nature of the small business and while expected is not always the best way use of time. In order for a small business to be successful and remain competitive in an industry, there must be designated time for the owner to focus on growing and building the business. In many cases small businesses fail as a result of being unable to handle emergencies or other situations that are simply beyond the control and expertise of the owner.