The managed IT service market is growing at a fast clip, and it seems that this growth is nowhere near its end. As this growth story lengthens, more and more new market players will earn a place of their own in tomorrow's marketplace provided that they do not fall victim to two myths.

However, since the competition is high, there are countless managed IT support services providers that fail because they believe in flawed assumptions or myths; these myths, further, lead to disastrous consequences and critical mistakes. We, through this post, are giving you, the Managed Service Provider (MSP), the low-down on some of the most common myths. Here they are.

If we have made, they will come

Every start-up MSP, by and large, has technical guys who have not that much of real-world experience; They may have the expertise, though. Most of the times, these MSPs are opened by those who've just completed their engineering in computer science or information technology. They may have been college aces, but it is a totally different ball game outside the four walls of the varsity. And even if they are having the talent, they try not to think before investing in the cutting-edge technology. Sometimes, even the most advanced pieces of technology may not be supported by the clients. However, before investing in such brand new pieces of technology, these entrepreneurs have one underlying opinion: If we have built it, they (the clients) will come and get it. That is one of the biggest myths that have to be debunked right now. Rather, all these new players must invest in something that is already present; investing in the future technology never makes any sense because it is something that will not be adopted by your clients anytime soon.

We do not need processes and people because we have got the tools

That is myth number two and something that has been the reason why several new MSPs stare down the barrel of a gun. As the managed IT services providers have a technological background, they find it relatively simpler to assume that they can carry out everything with the help of advanced tools and that they do not need any workforce or processes. However, that is not the case. The expertise of the owner alone is highly insufficient to manage a large pool of clients; so for that purpose, it will be beneficial to have more and more people. Also, there is an undeniable need of processes because they are essential to maintain or channelize the workflow.

So here are the top two myths that every MSP must avoid believing so as to always remain relevant and profitable come what may.