“She not only takes care of things for me, she does them better and faster than I ever could.”
Those are the words of Facebook marketing guru, Jeff Wideman. He is a self-employed marketing consultant that is experiencing record-breaking business growth. He owes a considerable portion of his success to his Virtual Assistant.
However, there are scores of small business owners, consultants, and entrepreneurs, who are running themselves and their businesses into the ground because they have yet to wise up; take the plunge to hire a Virtual Assistant and create a more thriving and profitable business.
As a small business owner, you need to constantly take stock of your actions and their impact on the bottom-line to discover whether or not they are reducing the amount of revenue that your business can generate.
In this article you will discover five compelling reasons why you are destroying your business by not having a dedicated virtual assistant on your team and how you can take action to change it.
Your life likely resembles scenarios that fit into the following three areas that most small business owners are constantly addressing to stay afloat.
- The Money Factor
- Releasing Control
Let’s dive into deeper focus of these three…
Tim Ferriss, the “love him or hate him” venture capitalist who made The New York Times Best Seller’s list with his book, The Four Hour Work Week, raves on the virtues of hiring a virtual assistant to free you up to get on with your life.
Business Destroyer #1: Endless To-Do List
While you are wishing that they were more hours in the day, the reality is that business moves fast. In order to keep up you need to segment your day better and employ the professional help of a virtual assistant.
Take Action: Hire a virtual assistant to focus on time consuming, repetitive tasks.
Here is a good example in the real estate industry.
“Sven Andersen, The Andersen Team, uses a team of VAs to handle every aspect of his listing marketing coordination, which frees him up to bring in as many new listings as he wants without breaking a sweat.”
Create a weekly to-do list of tasks for her to complete. The tasks can vary from email management, data entry, to research, to booking travel arrangements, all of which are tasks that slow your productivity down when your doing them yourself as a business owner.
A virtual assistant can easily shave hours off your day. Imagine, being ahead of schedule for once, and having the free time to work on your new e-book, develop a new product, or add a new service for your clients.
Imagine being ahead of schedule for once. What would you do with your free time? A Virtual Assistant can help! Click to Tweet
Additionally, you can employ multiple virtual assistants to handle different tasks.
That is exactly what Julie Anuslander from cSubs did:
“The right assistant is an invaluable asset, instead of one-size fits all; I have several different specialized assistants for recurring tasks. If one leaves, I am not totally lost. After years of being disappointed with expectations that were too much for any one person, I have found the perfect balance of assistants that work from their sweet spots.”
The Money Factor
Business Destroyer #2: Too Many Expenses
Most businesses deal with a crossroads at some point. You face the prospect of growing, but struggle making the transition. Costs increase and you have to put the brakes on new expenses.
When it comes to hiring a virtual assistant you don’t see how there is room in the budget. As a result, you keep on doing the mundane tasks yourself and your business remains stuck.
Take Action: Hire a virtual assistant initially to work the minimum amount of hours that you require and then scale up as needed.
Most business owners are surprised to learn that hiring a virtual assistant is considerably more affordable initially believed.
The cost-benefit equation is simple.
Say for example your time is worth $100/hr when you’re doing tasks like getting new clients and adding new revenue to your business.
When you’re handling mundane tasks you’re using your time at $100/hr when you could be paying a virtual assistant about $20/hr.
In the long run and even in the short run you’ll see ROI of $80/hr by hiring a virtual assistant.
It’s not an additional cost. It’s additional revenue for your business. Imagine what the ROI will be when you hire a Virtual Assistant for less than $15/hr or even lower than that!
Hiring a Virtual Assistant is not an additional expense for your business when it’s done strategically! Click to Tweet
Being able to cut down your weekly tasks and administrative duties in order to grow your business makes justifying the costs of hiring a virtual assistant a no-brainer.
“Tristen O’Brien, an eBay marketing expert in Westfield, Indiana, asks his assistant to help him find blog topics, as well as occasionally proofread his blog on eBay selling. “She researches what is trending and reports back to me,” O’Brien says.”
Your virtual assistant can do the groundwork and you have time to make the correct decisions.
Time is the number one asset of a growing business. You need that time to find new clients, come up with new revenue streams and to make things more efficient. By doing the mundane yourself you’re adding opportunity cost to your balance sheet.
Business Destroyer #3: Hiring Employees Too Soon
When businesses start seeing growth there is a temptation to grow even faster. To do this, companies will start hiring employees.
Hiring too soon is a big risk and can be a business Destroyer. If you don’t have evaluation processes in place you could hire someone that doesn’t fit your culture and that potentially can’t handle the job.
Instead of hiring a full-time employee during your transition period and going backwards there is another viable option.
Take Action: Hire a virtual assistant on a part-time basis to fill short-term workloads.
Here is an example of the cost-benefit value of a virtual assistant.
“Because they are contractors, virtual assistants are paid only for hours that they actually work instead of a guaranteed salary for a 40-hour week. Not only do companies save on employee benefit costs, but there’s also no real estate or equipment to fund, no need to lease space for an extra desk or buy a computer.”
A virtual assistant is fully equipped with her own office and is a proven professional. A reputable virtual assistant will be able to step up to any challenge your business may dictate, regardless of geography, due to the ever-growing technological tools and resources that are within reach. Therefore, a virtual assistant is an all around savvier choice for your business budget.
As your business scales you can hire employees that focus on revenue generating activities. You can retain the virtual assistant to assist them in their jobs.
Business Destroyer #4: You Do Everything Yourself
This mindset is all wrong, not to be harsh. Primarily because when you truly evaluate that statement, it is not that you are in not “in control” of your business it is that you have some fears of releasing “some” control.
Here is what CEO Charles Hudson discovered after using a virtual assistant:
“Having a remote virtual assistant is great. Part of what makes it great is that it forces me to write down processes / algorithms for how I want certain tasks done (travel plans, meetings, etc). The process of writing things down has really exposed how poor a job I do of adhering to my own idea of best practices.”
However, you can benefit tremendously from having “assistance” in running your business more efficiently. By handling everything you’re cutting into opportunities.
For example, by spending 2 hours each day reading and replying to email you’re cutting into time that could be spent finding new clients or working with partners on new revenue streams.
Is it worth your time to reply to an email or to develop more revenue?
Take Action: Hire a virtual assistant for a 30-day trial period and learn the benefits of not doing everything yourself.
Hiring a virtual assistant is about optimizing your potential for growth while maximizing your overall profit margin. In-demand business coach, Michael Hyatt, explains that he too was initially skeptical at the idea of outsourcing his administrative needs to someone that lived nowhere near him, but admits that ultimately, having a virtual assistant has allowed him to flourish as a corporate speaker and coach.
Most tasks a virtual assistant does on your behalf are ones you never look forward to executing. With a virtual assistant taking over basic tasks you gain more time in the day to focus on tasks that make better use of your work.
Like Michael Hyatt, you will likely see that not doing everything yourself makes your business better.
Business Destroyer #5: Entrepreneur Burnout
You may believe that you must churn out 80-hour weeks in order to reach a pinnacle of success as an entrepreneur.
However, burnout is a common fault of many entrepreneurs at all stages of business.
Humans need sleep. We work better when our brain is rested and functional. When we burn ourselves out we’re cutting into personal and business efficiencies.
“In 2010, researchers at the University of California at Berkeley confirmed that napping can improve the brain’s ability to retain information, noting that a middle-of-the-day reprieve “not only rights the wrong of prolonged wakefulness but, at a neurocognitive level, it moves you beyond where you were before.”
Take Action: Hire a full-time virtual assistant to take pressure off you so you can rest and avoid burnout.
The adage, “work smarter, not harder” is the ideal of entrepreneurs.
The truth is that entrepreneurs need to work smarter and work harder, but it’s not possible if you’re burned out all the time.
It is smart to work hard on the right tasks, focus on what matters and delegate the rest to a Virtual Assistant! Click to Tweet
Spending hours each day entering data or handling email or sending tweets is not using your abilities in the most efficient manner. You’re working hard, but not smart.
Super affiliate Zac Johnson shares his thoughts on using a virtual assistant:
“When I decide to start my next VA process, I would like to grab a content writer along with a web admin VA, this would eliminate the need for me to import the articles and manage these content sites. I can easily see a virtual assistant coming in handy for any affiliates working with list building and creating/upload ad campaigns. This is the type of manual work that can eat up your hours and is well worth the month of outsourcing.”
Hire a virtual assistant will allow you to reach your business goals faster because your company productivity will improve.
You free up time to rest and when you’re working your mind will be operating at peak performance. You’ll be working smarter and harder.
Are You ready to Stop Destroying Your Business?
You may have just read one or more of the reasons why you are destroying your business by not hiring a virtual assistant.
Take action with the steps provided in this article. You can begin right away and once you give up control you’ll appreciate the time you’ll have to focus on other more important areas of your business.
However, if you are still on the fence, you need to be brutally honest and ask yourself:
“How long do I want to keep destroying my business?”
If you want to reach your business goals there is no time like the present and this I why invite you to register for a Free Webinar titled “How To Reduce Your Workload by 50% AND Increase Your Business Profits in 60 Days or LESS by Strategically making use of a Virtual Assistant!” Register now for the webinar and discover how to maximize your business to its fullest potential.