Million Pound MSP: How I Built and Sold a Thriving IT Business

From Startup to Multi-Million Pound Exit: Mit Patel's MSP Journey

Building a thriving MSP business isn’t easy – it’s a journey filled with challenges, risks, and decisions that can make or break your success.

But what if you could learn directly from someone who’s been and done it?

Meet Mit Patel, the entrepreneur who started his MSP, Netstar, at just 20 years old and grew it into a multi-million-pound powerhouse. Over nearly two decades, he scaled the business to a 60-person team with 25% year-on-year growth, culminating in a lucrative exit in 2021. After successfully exiting the business in 2021, he now serves as an advisor, investor, and speaker, sharing his expertise with the MSP community.

In this blog, Mit shares the strategies, lessons, and insider tips that helped him transform Netstar from a small startup to a thriving IT business.

From building a high-performing team to leveraging innovation and data-driven growth, this is your chance to gain practical insights from a true MSP success story.

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The Foundation of Growth:

Planning and Resilience

Running and growing an MSP is never a straight road. Mistakes happen, but they don’t have to hold you back. In fact, they can be some of the most valuable lessons on your journey. Resilience—the ability to learn, adapt, and keep moving forward—is what separates businesses that thrive from those that struggle to grow.

But resilience alone isn’t enough. To see real, lasting growth, MSPs need a plan. Many businesses plateau, growing just 5-10% a year, because they don’t have a clear strategy. Without direction, it’s easy to get stuck in the day-to-day, leaving little room to focus on big-picture growth.

Mit emphasises, “You need to be clear about where you’re heading and work backward to create actionable steps.”

This means setting specific, measurable goals—whether it’s increasing revenue, growing your client base, or improving operational efficiency—and breaking them down into smaller, manageable actions. A clear roadmap helps you focus on what matters most, making it easier to prioritise, track progress, and keep your team aligned.

By combining resilience with focused planning, you can stop drifting and start driving your MSP toward meaningful, scalable growth.

Defining Value and Aligning Decisions

Decisiona made within an MSP should be evaluated based on its potential to increase the business’s overall value. Every choice, from client relationships to operational improvements, should be guided by one question: Does this add value to the business?

Mit stresses, “Every decision should be evaluated against your long-term goals. If a choice doesn’t contribute to your growth plan, it’s a distraction.”

Viewing your MSP as an asset, rather than just a business, is critical for strategic planning. For instance, if your goal is to exit the business in five years with a £4 million valuation, you need to work backwards. What level of profit will you need to achieve that valuation? What yearly revenue targets will get you there? Breaking these numbers down into clear, actionable steps helps ensure every decision moves you closer to that goal.

This approach isn’t just for those looking to sell—it’s about creating a business that’s resilient, scalable, and valuable. Aligning every decision with your long-term objectives ensures you’re not just putting out fires but building a business with purpose and direction. By staying laser-focused on value, you’ll avoid distractions and keep your MSP on a clear path.

Watch the scaleUP Podcast: Mit Patel: Revealing His Secrets to MSP Growth

Revenue Growth: Maximising Existing Clients and Acquiring New Ones

Growing revenue is a top priority for any MSP, but it requires a balanced approach. True success comes from doing two things well: maximising the value of your existing clients and consistently acquiring new ones. Both are essential for sustainable growth, but they demand strategic attention and consistent effort.

Maximising Existing Clients

The easiest revenue to earn is from the clients you already have. Yet, many MSPs spend so much time chasing new business that they overlook opportunities within their current client base.

To get the most out of your existing clients:

Whitespace Analysis: Identify which services your clients haven’t adopted yet. Use QBRs to demonstrate how these offerings can benefit them.
Simplified Offerings: Standardise your services to make them easier to understand and cross-sell. Complexity often creates confusion, which can deter clients from expanding their contracts.
Building Strong Relationships: Regular, meaningful check-ins foster trust. When clients see you as a trusted partner, they’re more likely to invest in additional services.

By nurturing these relationships and using a structured approach to upselling, you can significantly increase your revenue without needing to spend heavily on acquiring new clients.

Acquiring New Clients

While maximising existing clients is essential, new client acquisition is critical for long-term scalability. Attracting high-quality leads requires persistence, strategy, and the right tools.

A successful client acquisition strategy includes:

Networking and Events: Attending MSP-specific events allows you to connect with potential clients while staying informed about industry trends.
Tracking ROI: Keep a close eye on metrics like cost-per-lead, conversion rates, and client lifetime value. Knowing what works ensures you’re spending your budget wisely.
SEO and Digital Marketing: A strong digital presence is vital. Invest in SEO to rank higher for key MSP-related terms, ensuring potential clients can find you when they’re searching for solutions. PPC campaigns can also help you generate immediate, targeted traffic.

Balancing these strategies ensures steady revenue growth while preparing your MSP for scalability. As Mit demonstrates, focusing on both sides—maximising existing clients and acquiring new ones—is key to building a thriving, profitable business. By consistently refining your efforts in these areas, you can create a growth engine that drives success for years to come.

Innovation: Adapting to Client Needs and Market Trends

Clients’ needs evolve, and so must your service offerings. Regularly introducing new services not only keeps your business relevant but also demonstrates your commitment to solving client pain points.

Here’s how you can identify and launch new services effectively:

Research and Development (R&D): Regularly analyse your clients’ challenges and monitor market trends to spot opportunities for new offerings.
Test Commercial Viability: Before launching, make sure the new service is both profitable and valuable to your clients. A good idea isn’t enough—it needs to make business sense.
Refine and Simplify: Integrate new services seamlessly into your existing packages. The easier it is for clients to adopt them, the more likely they are to engage.

However, innovation doesn’t mean chasing every trend. It’s about focusing on what adds real value to your clients and aligns with your business’s core strengths.

Mit warns, “Just because another MSP is offering a service doesn’t mean it’s right for your clients. Focus on what works for your business.”

Building and Scaling a Sales Team

High Performing Sales Engine

A high-performing sales team is the engine that drives growth for any MSP. Without a dedicated, well-structured sales function, scaling your business becomes a constant uphill battle. As your MSP grows, building a sales team isn’t just about adding people—it’s about creating a system that works efficiently and delivers results.

Stages of Building a Sales Team

Building a sales team doesn’t happen overnight—it’s a process that evolves as your business grows:

Sales Support: Start small by hiring administrative staff to manage quotes, scheduling, and admin tasks. This allows business owners to focus on high-level strategy instead of getting bogged down by day-to-day operations.
Account Managers: Bring on account managers to strengthen client relationships and uncover upsell opportunities within your existing base.
New Business Sales: Finally, hire a dedicated team focused solely on acquiring new clients. This ensures your growth engine is always running.

Scaling for Success

As your sales team expands, appointing a sales leader is crucial. They’ll oversee the team’s operations, keep everyone aligned with business goals, and ensure that efforts stay on track.

Tracking key metrics is also essential. Focus on:

Leading Indicators: Actions like emails sent, calls made, or meetings booked. These predict future success.
Lagging Indicators: Results like revenue generated and deals closed, which measure outcomes.

By building your sales team in stages and keeping roles clearly defined, you can create a high-performing sales engine that not only supports your growth but also fuels it. With the right people, processes, and metrics in place, your MSP will be equipped to scale effectively and sustainably.

Creating a Culture of Growth and Accountability

A thriving MSP isn’t built on strategy alone—it’s powered by a culture where everyone is aligned, motivated, and accountable. When your team is focused on clear goals and held accountable for progress, consistent growth becomes achievable.

Mit underscores the importance of focus: “As an owner, it’s easy to get distracted by other priorities. Weekly rhythms and sales meetings keep you focused.”

Building a Culture of Accountability

Accountability starts at the top, with clear communication and regular touchpoints that keep the team on track. Here’s how to create a culture that drives results:

Regular Check-ins: Schedule weekly or monthly meetings to review progress, tackle challenges, and celebrate wins. These meetings ensure plans aren’t just made—they’re executed.
Peer Support: Engage with peers, mentors, or industry groups to hold yourself accountable to your goals and stay inspired.
Celebrating Wins: Recognise and reward achievements, no matter how small. Celebrating progress motivates the team and keeps everyone aligned with the bigger picture.

Mit notes, “A motivated team is your greatest asset. Invest in their growth, and they’ll drive your success.”

Leadership: Transitioning from Owner to Strategist

As your MSP grows, so must your role as its leader. The transition from managing day-to-day operations to focusing on strategic leadership is one of the biggest challenges for business owners—but it’s also one of the most important steps for scaling successfully.

The Shift from Operator to Strategist

When you’re in the thick of operations, it can be hard to step back. But trying to do everything yourself limits growth and risks burnout. Leadership at a strategic level means focusing on long-term goals and trusting your team to handle the details. Here’s how to make the shift:

Delegation: Let go of tasks that others can handle and empower your team to take full ownership of their roles. This doesn’t mean losing control—it means setting clear expectations and trusting your people to deliver.
Building a Leadership Team: Hire skilled managers to oversee key areas like operations, sales, and client relationships. These leaders become the backbone of your business, freeing you to focus on high-level strategy.
Reviewing Key Metrics: Regularly track the performance of your business. Metrics such as revenue growth, client retention, and operational efficiency ensure you’re on course to meet your long-term objectives.

Leading for Growth

A great leader guides the business toward its strategic goals rather than micromanaging every detail. This requires a mindset shift—from being the one who does everything to the one who enables others to succeed.

When you focus on strategy, you can align your team, build momentum, and position your MSP for sustainable growth. As Mit demonstrates, stepping back doesn’t mean stepping away; it means driving your business forward with purpose and vision.

Seven Key Strategies for MSP Growth

The following strategies serve as a framework for MSPs looking to grow and scale their business:

Set Clear Goals
Growth starts with direction. Establish measurable goals that give your business focus and purpose. Break long-term objectives into smaller, actionable steps, and involve your team to create buy-in and accountability.
Maximise Existing Clients
Your current clients are your most cost-effective growth opportunity. Use Quarterly Business Reviews (QBRs), whitespace analysis, and personalised offerings to deepen relationships and uncover upsell opportunities.
Invest in New Client Acquisition
Consistent new client acquisition is key to scalability. Leverage digital marketing strategies like SEO and PPC, network at industry events, and track metrics such as cost-per-lead and conversion rates to optimise your efforts.
Build a Scalable Sales Team
Create a high-performing sales engine with clearly defined roles. Start with support staff to handle admin, add account managers to maintain client relationships, and hire new business sales professionals to drive growth.
Foster Accountability
Growth doesn’t happen without follow-through. Hold regular check-ins to review progress, celebrate wins, and ensure everyone is accountable for results. This keeps your team aligned and motivated.
Innovate Continuously
Stay ahead of market trends by regularly launching new services that address client needs. Focus on solutions that align with your business strengths and deliver real value to your clients.
Lead by Example
Transition from an operational role to a strategic one. Delegate effectively, focus on long-term planning, and ensure that your leadership aligns with the company’s vision for growth.

Growth isn’t a one-time effort—it’s a continuous process of aligning your strategy, actions, and team with your long-term goals. By adopting these principles and staying intentional in your approach, you can create an MSP that thrives today and remains successful in the future.

Watch the full podcast here

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