Tag Archives: business

10 Reasons Why Businesses Need a Digital Estate Plan

digital estate plan
Data Backup, Security, Technology, , , , ,

In the last two weeks, we have talked about digital estate plans and why it is crucial for businesses today to have one. Since most business data is now stored digitally, it makes sense to protect these digital assets in the event the business owner passes away.

If you still don’t have one and are still on the fence about whether creating one is worth your time and effort, we have listed 10 excellent reasons to encourage you to get started soon.

1. Protection of Digital Assets with a Digital Estate Plan

This step is the primary purpose of planning—it ensures that your business and all its digital assets are adequately protected after the owner dies, especially if they are the only ones with access to the business accounts and other online information. Instead of being lost in cyberspace, they will pass the digital assets on to the owner’s chosen successor.

2. Business Continuity with a Digital Estate Plan

The death of the owner doesn’t mean the end of the business. With a well-prepared digital estate plan, you can show your long-term goals for your business and assign individuals to carry on these goals. Hence, your business can continue to prosper years after you are gone.

3. Better Control of the Business

Sometimes a business may carry on after the owner’s passage, but in a direction that differs from what the owner had originally intended. You can prevent this so your business follows your intended path by specifying how you want your digital assets managed in the digital estate plan.

4. Legal Compliance

The law requires businesses to follow specific regulations regarding data protection and privacy. Compliance with these legal requirements is one of the high-priority items in a digital estate planning checklist. When creating your plan, check for local regulations that might apply to your business.

5. Intellectual Property Protection

Most businesses own several digital assets that are intellectual property. These include company logos, brand names, trademarks, and patents. Digital estate planning ensures the protection of all these intellectual properties by enabling the business owner to decide on the manner of their eventual management or distribution.

6. Identity Theft Prevention through Digital Estate Plan

When a business owner dies, the company’s digital assets might become susceptible to data breaches or identity theft unless there is a proper delegation of management roles, which a digital estate plan can help ensure.

7. Dispute Prevention

Just like in a regular will, those left out sometimes fight over the inheritance. The same can happen in a business when the owner passes. As a business owner, you can prevent these kinds of disputes by creating a digital estate plan that shows the roles you want your business partners, stakeholders, and family members to play in the business after you have gone.

8. Tax Liability Reduction

Turning over the ownership of a business can come with hefty taxes, but a plan can significantly help reduce these taxes.

9. Legacy Preservation

Even if you completely trust your successor to do well in your business, it is still something else to preserve your legacy after your death. A plan lets you specify the direction you want to go with your business and gives your successor a guide on managing the business how you would have wanted them to.

10. Smooth and Seamless Transition

With everything laid out in the plan, transferring ownership can go on without hiccups. There will be no wasting of time, money, and other resources. All that has to happen is the execution of the estate plan.

Create Your Digital Estate Plan with Our Help Today

There they are – 10 compelling reasons to prepare a digital estate plan for your business. If you are ready to take the next step, we are always here to assist in any way we can.

For more information, download our free Digital Estate Planning Checklist and Password Cheat Sheet right here. Contact us if you have questions! We will help you ensure that your business stays protected, now and after your passing.

Business Cloud Migration, The Best Move to Make Today

Business cloud migration
Cybersecurity, Security, Technology, , , , ,

The past few years have been all about business cloud migration. As the needs of businesses continue to grow, it has become more tedious and expensive to keep up if you rely only on your on-site business resources. But thanks to cloud technology, you can outsource many business processes to cloud-based providers. This freedom means you can grow your business with less effort and expense!

Why Some Business Owners Are Reluctant to Migrate

The more courageous business owners have immediately leaped since the cloud was first introduced in 2019, while many others have gradually followed suit. But to this day, many businesses still stick with their on-premises resources for their operations. Why is this so? It’s because of fears about the cloud, many of which are unfounded.

The most common fear is that the business cloud migration might put security and privacy at risk. Many business owners think the cloud is a public domain where hackers roam freely. While there are cybercriminals everywhere, cloud providers have tight security measures to help keep you and your data protected.

Other business owners hesitate because they fear cloud services will be costly to maintain or too confusing to use. Again, these fears are speculative. Cloud solutions are much less expensive than investing in on-premises equipment and services. Most of it is very easy to navigate, particularly when you work with a reliable MSP.

What Businesses Can Gain from the Cloud

Once you get past your fears, you will see the wealth of opportunities you can gain from business cloud migration. For many who have already migrated, the number one advantage is scalability. Scaling your business up or down is so much easier with the cloud. Because of the flexibility of the cloud options, you won’t have to worry about having insufficient funds or resources.

There is also the matter of cutting back on significant spending. A cloud service provider will typically charge you for the services that you use. You won’t end up paying for a whole package, most of which you don’t even need, which is what often happens with conventional operations.

Also, there is perpetual access to the latest software, hardware, and infrastructure. When a new version comes out, you can ask your provider to upgrade you, and you don’t even have to pay extra fees. In addition, the cloud also gives you better data and network security, more efficiency for your business, and improved overall business performance.

How to Go About Business Cloud Migration

Cloud migration is moving all your company’s digital resources, applications, databases, and servers into the cloud. Yes, it can be a colossal operation, especially if you go for a full migration. But the good news is that you don’t have to do it alone. If you have a trusted MSP, you can sit back and let them complete the process for you. That is exactly what we can do for you.

Whether you want to go the whole nine yards and do a full cloud migration, or just partially, we will help you with the transition in a way that meets all your business needs.


To learn more about the cloud and find out more details on how it can benefit your business, download our FREE Infographic, “5 Fears and 5 Benefits of the Cloud.” Are you afraid of the Cloud, or are you open to cloud solutions and how to use them to grow your business?

How Do MSP Mergers and Acquisitions Impact Your Business?

MSP Mergers
Manage Service, Security, Technology, , , , ,

We have seen a significant rise in the number of MSPs and solution providers selling out to larger corporations. They are also selling to hedge funds in recent years. This trend of MSP mergers has been going on around the world. With this trend, there is no sign that it is going to turn in a different direction anytime soon.

Why Are Big Corporations Buying out MSP Companies?

Large IT companies are actively gunning for mergers or acquisitions because the MSP business is currently highly lucrative. The market is currently at a value of $223 billion and said it will reach $330 billion by 2025. Corporations recognize the strong growth potential of the MSP industry, but they don’t necessarily want to start a new company themselves. Indeed, why build one from scratch when MSP Mergers can find many MSPs out there willing to sell?

Also, these corporations are banking on the illusion of choice and keeping their current customers. They take control of multiple MSP companies while retaining their original names. People mistakenly believe that they have a wide selection of MSPs to choose from when, in reality, the majority of them belong to the same conglomerate.

Take Accenture, for instance. In 2023 alone, they will have acquired 8 different IT provider companies. It appears to the public that these MSPs are industry rivals. In truth, they are all bringing in revenue for Accenture. Trailing at a close second is The 20 MSP, which has already acquired seven MSPs so far this year.

Why Are MSP Owners Choosing to Sell Their Companies?

From the MSP owner’s perspective, selling the company could indeed be the best course of action considering the situation at hand. The most common reasons that they cite for doing so are burnout, health, retirement, partner disputes, or shifting to a different line of business.

It does seem like a win-win situation for everyone until you take a look at how the situation impacts the client companies of the MSP that has just been bought. Yes, we are talking about businesses like yours. Where does it leave you if a sizable corporation suddenly acquires the MSP you had chosen to work with?

Effects of MSP Mergers on Client Businesses

IT companies have their valid reasons for selling out; oftentimes, it has to do with money. But regardless of what good it might have done for them, the acquisition typically leaves their clients in the lurch. Of course, the big corporation promises to take care of all the clients in the same way that they have always been taken care of. But the truth is that everything will change, and not necessarily for the better.

As a business owner, you rely heavily on your MSP to take care of your digital operations. You’ve probably been staying with them all this time because they provide excellent service. You are happy with the IT guy working for you, and their location is near you.

But what if you wake up one day and everything is different? It is pretty normal for service quality to drop after an acquisition. You might go from being a highly VIP client to just one of the hundreds or even thousands.

With the change of management, you will likely have a completely new IT team that did not work with you before. But what’s even worse is that these professionals are usually miles away from your physical location and can only serve you remotely. They can go to you but their travel expenses will go on your bill. That is something you do not want at all with MSP Mergers!

What to Do If Your MSP Is Getting Bought Out By MSP Mergers

There are two main choices you can make once you find out your MSP is up for acquisition. One is to stay with them and hope things settle down quickly. In all likelihood, the new owners will want to hear your feedback because, after all, they want to keep your business. Take this opportunity to air your concerns and give them time to make adjustments to better serve your needs.

Now, if things have changed to the point that you are no longer satisfied with the service, you can always switch to a new provider. Despite the continuing M&A trends in the IT industry, there are still plenty of local MSPs that have not sold out.

Check out a few and see what else is out there. Here at our company, we would be very happy to help you sort things out, discuss your needs, and maybe even provide you with the services that you are looking for. Check out the MSPs that big businesses have acquired just in 2023. It will surprise you if you find out where these large corporations’ locations are. It’s no wonder why small businesses are suffering from acquisitions. 2023 MSP Acquisitions

And if your agreement confuses you and want to know how you can get out of it, call us today, and let’s talk!

The Importance of a Reliable BDR Plan for Business

Reliable BDR
Cybersecurity, Data Backup, Security, , , , , ,

In every business, there is an element of risk involved. In addition to operational risks, there may be hidden threats that can arise suddenly. One of the best defenses a business can wield in these situations is a reliable bdr plan.

In the last few weeks, we have been covering BDR solutions. What BDR solutions are, what they can do for your business. Talked about how to gauge the quality of a particular BDR plan. Indeed, it’s worth all the discussion because we can never overemphasize the importance of a reliable BDR plan for your business, your employees, and your clients.

Benefits of Having a Reliable BDR Strategy

what Is BDR

Our series of blog posts on backup and disaster recovery began with an article called “What Is BDR and How Does It Impact Business?“. In this first week, we covered the key benefits businesses gain from a good BDR strategy.

A good BDR strategy will give you protection against data loss and damage. Specifically, the data backup component of the BDR will safeguard your information in the face of a data breach, a system failure, a natural disaster, and so on.

A secure data backup system with the most innovative security measures and encryption tools offers better security, which is another significant benefit. With such a system, all your business information will remain safe and untouched. Also, a sound BDR will ensure higher customer retention even after a disaster.

Why is a BDR a Necessity?

BDR Plan

In week 2, we published a blog post on the “Top 5 Ways Your Business Can Be Impacted Without a BDR Plan.“

This blog talks about what could happen to your business if you operate without a reliable BDR strategy.

There are more events that can cause the collapse of a business than most business owners realize. Other than the publicized cyberattacks, factors like cloud-based threats, the increasing number of remote employees, and any natural disaster can damage an unprotected one.

Most of these are events that no one can predict or prevent. Using a robust BDR solution is the only way to keep your data secure from current external threats.

Signs of a Reliable BDR Solution

solid BDR plan

By now, we have established the importance of having a backup and disaster recovery plan for any business. But then, not all BDR plans are equal. How do you know if the one you have will work for you? In week 3, we tackle this concern in our blog post called “How Do You Know If Your IT Provider Has a Solid BDR Plan for You?“.

If you have a reliable IT provider, there’s a chance they have designed a great BDR solution for your company. But if you want to know how effective your BDR strategy is, check if it includes the five vital components: proactive measures for disaster recovery, priority for critical functions, emergency response procedures, secure data backup, and routine testing.

How a Managed IT Provider Can Help with a Reliable BDR Plan

Now that it’s clear how crucial a BDR plan is for your business, the only thing left is to bring in the right IT provider. So that they can design and implement a suitable plan. We have provided reliable backups and disaster recovery strategies for small and midsize businesses for years.

If you want a system that will give you the most protection, call us, and we will set you up! And don’t forget to download our FREE BDR infographic. It’s full of tips to help you learn about the BDR solution we offer.