This is directed towards the newer and smaller MSPs. The ones not fully established. Things I have learned in my 24 years of MSP ownership:
Start with as low overhead as possible. Keep your costs down and focus on building your business
Figure out what makes you different than the many MSPs in your area and even remote MSPs. I'll go in depth in this in another post
Plan and build your resources and stack. My experience with Open Source has been excellent, but depending on your technical background, YMMV
Network with peers. You will never know everything and there will come a time where you will need outside help or advice. Those same peers will also benefit as well
Vendors will want to sell you everything under the sun and make it sound like its the answer to all of your issues. It's not. There are vendors out there that prey on new and less experienced MSPs
You absolutely can build your MSP for little cost and be successful. I speak from experience. I'll also do another post as a template on how to
AI is a game changer, however... Its not always right and if you can't fact check it, don't use it
One bad customer experience can siginificantly impact your reputation, regardless of who is right or wrong. Always remember that. Sometimes its better to be right and let the customer win the arguement or issue. Always try to empathize with the customer
Some customers aren't a good fit. Don't be scared to let a customer go, but do it respectfully and explain to them it isnt a good fit. Also thank them for oppourtunity.
Some employees aren't a good fit. See above comment
Arrogance will kill any business