Researching competitors, finding funding sources, and protecting yourself with contracts are just a few of the steps you should take when you start an IT services business.
As the modern business landscape is being driven by technology, companies in all industries need the right tech infrastructure to stay competitive, reduce risk, and protect data. As a result, IT services professionals like you are in high demand across every industry.
Businesses are boosting their IT budgets to bring in these professionals and consultants. A recent Gartner report shows that global IT spending is predicted to grow by nearly 4%. And IT security spending is forecast to grow by more than 40% over the next five years.
You can capitalize on this need by starting your own IT services business.
Regardless of your field of specialty, there’s ample work to be done. And most importantly, high earnings potential. In this guide, we’re outlining the steps you can take to create a successful IT services business.
Decide on your IT service offerings
Remember that your services will be a main selling point for potential clients. Some of the IT services your practice might provide some combination of include:
- Website Design and Development
- Mobile Application Development
- Network Design and Installation
- Software Installation and Updates
- Tech Support
- IT Budgeting and Procurement Decisions
- Hosted Services and Storage
- Risk Assessments
- Security Strategy
- Remote Admin Management
When deciding your offerings, commit to ones you have experience with. It can be tempting to offer services outside of your skill set in hopes that you’ll win more clients. But taking on an IT project you have no experience with can backfire.
Research your market and competitors
Once you’ve settled on potential IT services, determine what type of clients you’ll pursue. You might target customers by business size. Or you could focus on companies in sectors where you have made a name for yourself.
Some cities are more difficult to start a business in than others in terms of customer base, competition, and expenses. Do market research on competing IT businesses in your city.
Finding out what services they offer is relatively easy, but dig deeper to learn how much they charge. A competitive analysis will help you identify opportunities to fill gaps in your local IT services market.
You can use our study of the seven best cities to start an IT consulting business to get a sense of which areas have the most potential. Some cities are pricier than others, but you can charge higher rates for your services in more expensive cities.