So you want to start a managed services practice? That’s probably not a bad idea, given general outsourcing trends in IT. One analyst firm, MarketsandMarkets, expects the market for managed services to grow from $142.75 billion in 2013 to $256.05 billion by 2018, at a CAGR of 12.4% from 2013 to 2018.
But launching a new company isn’t a walk in the park. The Department of Trade and Industry (DTI) estimates that one out of every five newly-started businesses fails within its first year of operation. The 10 tips offered here will help prevent you becoming a business failure statistic and put you on the fast track to building a successful managed services practice.