Cutting Costs & Maximizing Results: Part One
- Admin
- Oct 1, 2019
- 3 min read
Updated: May 17, 2022
Let's start with the basics.
A Virtual Manager/Assistant is a freelance contractor that works alongside businesses and their teams to collaborate and assist in business development. There are many different types of VAs with specialized skill sets, these can include Marketing, Administration, Web Presence, among many others. And then you have the "Jack/Jill's of all trades", these VAs are golden managers/assistants that are able to assist you in virtually anything you need! Why confine your businesses needs to geographic restrictions when you can have access to an array of quality industry professionals without the added high costs of an employee.
7 Ways VAs Can Help Cut Costs & Maximize Your Business!
1. New Employee Investment Costs
New employees require hours of training to be established successfully in their new role. In addition, they need to be onboarded into the company culture. With VAs the cost of training and onboarding is virtually non existent! VAs already have years of experience and do not require extensive training. During the client onboarding process all of the information needed for a VA to perform to the clients needs are addressed.
Think about the costly overhead that an in-house employee can cost. An in-house employee requires businesses to pay for insurance, PTO, employment taxes, supplies, utilities, etc. The bottom line is hiring a VA is less costly both upfront and in the long run.
2. Timely Administration Tasks
Administration tasks can consume a large part of any businesses day. For example, by spending 30 minutes each day on one small administration task at the end of the year that is roughly 129 hours that you could have used to grow your business! Let's say your average hourly rate for your businesses services is $ 70.00 an hour, this is $4,515.00 you could have earned by providing services to your clients, instead of performing this small administrative task.
Of course small administration tasks are essential to the operation of your business, but is it worth your time when it could have been delegated to a VA? Let a VA organize your day to day needs, so you can focus on the bigger picture.
3. Stress & Burn Out
Many business owners and entrepreneurs have the mentality that they must do everything themselves and while this worked when they were a solopreneur with very little clientele, it is simply not the mentality one should have for their growing business now. As their business grows, so will the long work hours and the need for more time. Spend less time doing repetitive tasks and more time completing tasks that are essential for building your business. Undoubtedly, the do it yourself mentality will lead to tasks falling through the cracks and a business not being able to continue to grow. Not to mention this will lead to workplace stress, frustration, and burn out.
4. Analyzing A Company's Needs
Combining the years of experience VAs already possess and their unwavering need for their clients to succeed and grow; a VA is an integral necessity for your business. They are able to analyze company culture and business strategy placing them ahead of the pack. By exploring and analyzing a company's structure and goals a VA will be able to strategize and collaborate the necessities to help the company reach its goals.
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