As a virtual assistant and business advisor, I generally work with small to mid-sized companies and organizations who have a limited budget when it comes to outsourcing and professional services. Often times the owners or managers will wear multiple hats, trying to fulfill all of the roles within the company and handling all of the daily business tasks. But soon they find themselves overwhelmed, frustrated, and burnt out. Customers are complaining, calls are not getting returned, orders are falling through the cracks, they run out of printer ink and paper, invoicing is delayed, licensing requirements are put off, tax payments are delayed and fines accrue, and papers are piled sky high.
It’s at this very point where bringing in a professional can be a real solution to their problems, yet they don’t do it. Why? Because they look at the cost and think that it’s way too expensive to pay someone $35-65 an hour to provide them with the much-needed help. Honestly speaking, this is a largely misunderstood concept. The cost of not hiring a true professional is actually higher.
Professionals such as accountants, lawyers, business advisors, and virtual assistants, know the ins and outs of their professions and are able to handle tasks quickly and efficiently, especially the tasks that might be daunting for you. As a business owner, if you’re spending eight hours trying to set-up Quickbooks on your own, that’s revenue lost for you. Your time is much more valuable and would be better spent with you working in your business rather than on your business. You could have hired a virtual assistant or bookkeeper for $40/hour to set-up Quickbooks for you, and it probably would have taken them two hours. You have to understand that spending money for professional help really isn’t always a bad thing and you have to determine how your business can truly benefit from the help.
It doesn’t make any sense for a business owner or manager to try and file papers, send out marketing newsletters, reply to emails, purchase materials, set appointments, manage a website or social media campaigns, if it means lost revenue for your company. Here’s a good example: If you can be out working and generating $85/ hour in your business, and you spend ten hours a week doing these odds and ends in your business, that equals $850 of lost revenue a week or $44,304 of lost revenue annually. If you hired a virtual assistant at $35/ hour to handle those same tasks on your behalf, you would not have lost revenue at all, you would have generated $500 of increased revenue or $26,000 annually.
The proof is in the pudding they say, and here is the proof that the cost associated with hiring a professional, isn’t always as bad as you might think.
Miss Executive ~ Tina Holtz
Tina Holtz is a serial entrepreneur who owns and operates a boutique virtual assisting and business advisory firm, Executive Business Services, LLC. She has more than 20 years experience in business development, business management, operations, sales, marketing, and procurement. Tina values building relationships and is passionate about helping business owners reach new heights. She provides a vast array of support services to business owners, entrepreneurs, professionals, and executives.
970-989-8047 or email at email@example.com