Miss Executive Blog

Uncategorized, Virtual Assisting

Welcome Niki Smith, Our Newest VA

Extra, Extra read all about it!

We are proud to announce that we have added a new virtual assistant to our team and we would like to welcome Niki Smith. Nikki holds an Associates in Accounting Degree, is graduating this year with a Bachelors in Business, is QuickBooks Certified, and also holds a Real Estate License. She is a highly experienced and results-driven professional with a strong accounting, administrative, and real estate background. She demonstrates solid leadership and problem-solving skills. Nikki portrays many of the skills that make a successful VA through her attentiveness to details and her ability to produce consistent quality results. Because the company’s services are completely virtual, they can provide assistance to clients throughout the U.S. and have clients in multiple states.

 

“Nikki brings a variety of qualities to the team and is extremely passionate in helping others within their business challenges. I am pleased to have her joining us at Executive Business Services. Nikki is heading up a new satellite office in Kerrville, TX and is eager to start building a client base in and around the Kerrville area. I have no doubt she will be successful.”   Tina Holtz, Owner & VA

 

Niki Smith
Niki Smith

 

Virtual Assisting is not new to the business industry, but it’s still not a widely understood term. A Virtual Assistant or VA is a highly-skilled professional who provides administrative support and other specialized services to businesses, entrepreneurs, executives, sales professionals, and others who have more work to do than time do it. A Virtual Assistant is a vital and trusted member of the business team and works remotely with leading-edge technology to communicate and manage business projects, tasks, and client relationship needs.

The beauty of a VA is that most small businesses need assistance with marketing, project management, daily admin duties, emails, newsletters, business taxes, bookkeeping etc., but they can’t always afford to hire an employee. That’s where the VA comes in. Your VA is available when you need them and there is no commitment. Use your VA 5 hours this week and 20 hours next week and not again for two weeks, whatever you need, the flexibility is there. It saves your business money in the long run and if you think you can’t afford a VA, that usually means you really need one.

So feel free to reach out to our Facebook page and give her a warm welcome, or contact us today and become a happy client.

Virtual Assisting

The Cost of Hiring a Professional

pexels-photo-271265As 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 tina@execbusinessservices.com

www.execbusinessservices.com

 

Uncategorized

Must Have Online Tools for Business

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As a small business owner myself, running a virtual business firm has me running everyone elses businesses too. I love what I do, but I wouldn’t be able to do it without some much needed help from some amazing online tools.

My day starts off with 17hats. On thier home page it says “Chaos. Simplified.” and that’s pretty much it in a nutshell. This software is the bomb.com for managing my time, tracking the time I spend on client projects with timers, invoicing, accepting online payments, lead capturing, it’s amazing!

I never have to listen to that horrible fax beeping and screeching at my office. Gone are those days and my life has been simplified with RingCentral. For just 14.99 per month I have a dedicated toll free fax number. I simply login to RingCentral online, scan my outgoing fax as a PDF into my computer, attach it as an outgoing fax and hit send. All incoming faxes go right into my email, I can simply download them, email them, print them, etc. It’s the best thing since sliced bread!

I create a lot of marketing materials, flyers, and social media content and I use a variety of different programs, but this new one I found last year is awesome and it’s FREE, although you can upgrade to a better professional version for a small monthly fee, CANVA. This little program makes anyone look like a graphic designer and it’s super fun to use with hundreds of existing templates already properly sized for your media or you can customize them yourself.

If you want to network and really get your name out there you NEED to be on LinkedIn. This professional yet social platform has done more for me than anything else in my professional career. There are many aspects to what makes LinkedIn an amazing tool for your business but some of the best aspects are the ad campaigns, sales navigator, sponsored content, and more. It can really put you in touch with the right people in your industry.

There are many other programs in addition to these that I use and for a partial list you can visit my website at www.execbusinessservices.com/.

Miss Executive ~ Tina Holtz

 

 

business growth, Business Start-up, growing your business, Marketing

The Top Challenges for Small Businesses

Running a small business can be a daunting task. It might seem like you’re running around like a chicken with your head cut off most of the time. Paying bills, running errands, meeting with clients, making 30 phone calls a day, writing proposals, cleaning the toilet! It may seem like you’re doing everything and yet it can still feel like you’ve accomplished nothing.

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Courtesy Canva.com

In this blog article we’re going to review the top challenges that small businesses find themselves facing everyday. In my reaserch what I’ve found is that even though small business owners are stressed about everything that they need to do and the struggles in owning and operating their small businesses, they would do it all over again if given the chance. The freedom, flexibility, and ownership out weight many of the corporate aspects elsewhere. I know for me, I love running my own business and I know that I am in complete control of my life.

1.) Financial challenges can plague many small business owners. Not having enough cash reserves, lines of credit, or access to money can limit the growth and basic day to day operations. Commit to having a financial overview weekly to ensure you stay on track, and use a good accurate accounting system like Quickbooks, Quicken, or 17hats. Financial forecasting is another tool that should not be overlooked. In order to take control of your finances, you need to know where you are, where you’ve been, and where you’re headed. Set budgets, monitor expenses, and have a business plan that includes cash flow analysis which will help you plan your financial picture now and in the future.

2.) Proper staffing and good employees is a common pitfall. Many small business owners find themselves unable to compete in the job market and sometimes settle for the less desirable employee just to have a warm body. Trust me, this is not helping your business. The key to obtaining good employees is competitive pay, incentives, flexibility, and benefits. I know, you’re thinking there is no way you can compete with the big boys, but there is! You can offer a simple IRA, even if you can’t afford to match giving your employees a way to save for their future tax free is HUGE. You may not be able to offer full heealth insurance, however you can offer Aflac, and although this is not health insurance it does provide benefits for accidents, injuries, and some health related issues and is better coverage than nothing. As a business owner it costs you ZERO and all you have to do is offer it to your employees and you take the premiums out of their paycheck tax free through automatic deduction. You can partner with a local gym in your area for a discounted gym membership, and you can pay for half of the year’s membership and encourage a healthy team. Offering additional educational opportunities is also something that should not be overlooked and for a small cost you can increase the work performance of your team and better your company at the same time.

3.) The majority of small business owners lack time. Most of the time it’s because you started out by doing everything yourself, wearing multiple hats and so you just continue doing it. Learn to delegate tasks and duties to your staff. Being a good manager means that you know where your time and that of your employees is best spent, and providing you with the best return on that time and investment. You don’t need to be changing oil in a service truck if you should be at a meeting with a potential client. You are too valuable for that, you should be bringing in a new customer and your mechanic or laborer should be changing the oil. The same thing goes for invoicing, payroll, etc. You need to be running your business and delegating those tasks to another person. Know where the true value lays within a member of your team and where you should be really spending your time.

4.) A lot of small business owners start their company with little business management knowledge. That’s ok, it doesn’t mean you’re not a good entrepreneur, but you might need some help with the basic operations and set-up of your business. Be sure to get the help you need right away. I cannot stress this enough. If you procrastinate the problems and issues only get bigger and can lead to failure. For instance, I know a cleint who was a concrete guy, a great concrete guy at that. He knew how to pour concrete very well, but he didn’t knew nothing about how to run a business, invoice, market, hire employees, set the business up etc. Sometimes you need help, so reach out to a virtual assistant or business advisor to help you with those issues.

5.) Marketing always seems to be a BIG struggle for small business owners. Today marketing can be done very easily if the right techniques and methods are used. Most small business owners are unsure of where to begin, what methods to use, how to track it, or plain and simple don’t understand it, so they never market their business. Truthfully they really don’t have time to market because their too busy running the business. So marketing gets overlooked and set to the wayside. Marketing is the backbone to the success of every company and sooner or later it needs to be a part of your business plan. Again, you may need to reach out for assistance with this.

6.) Growing pains! This is common with a lot of small businesses. You start out small, maybe you even bootstrapped your way along and then all of the sudden one day you wake up and your business is booming. You find yourself growing so fast, you don’t even know what’s going on. You’re hiring staff with no paperwork, your throwing receipts into a box by the door, you’re only invoicing once a month because you have no time, you barely pay your bills on time even though you have the money in your account. This can be an exciting spot, but it can also be very scary. More than ever, this is when you have to ensure that your management plan is up to snuff. DO NOT cut corners or procrastinate. You have to ensure that you have the proper foundation established for your business so that you can succeed through this growth process.

virtual-assistant

Here are some interesting stats from a research study that Constat Contact did.

43% of small business owners say they are wearing too many hats

20% have a hard time riding through bad economic times

10% struggle with hiring and managing staff

66% have trouble finding new customers

56% say they do not have enough time

40% say they have trouble retaining existing customers

32% say they have a hard time paying bills

So this just goes to show you, that you are not alone afterall. Just remember, if you need help there are loads of professionals out there available with the experience you need. You can start with your virtual assistint, lawyer, CPA, business advisor, insurance agent, etc. These professionals truly care about the success of your business and are with you every step of the way.

Tina Holtz~Miss Executive

 

 

 

Business Savvy, growing your business, Uncategorized

4 Ways to Save In Running Your Business

chaching

I have found over the years that as business owners are consumed in running their business, often times they don’t know about potential money saving opportunities that are available.

As a Virtual Assistant providing business support services, it’s my job to stay up to date on the latest and greatest techniques, softwares, programs, and…. money saving opportunities that can increase my clients bottom line. Because I am based in Colorado these top “3 Ways to Save” mostly apply to Colorado companies, however most states do have similiar programs available.

Cost Containment Certification

This is a cost savings opportunity available to all businesses in The State of Colorado who pay for Worker’s Compensation. The State rewards businesses who implement a proper safety program that meets the following criteria:

* A safety policy statement
* A safety committee or coordinator
* Posted safety rules
* Consistent safety training
* A designated medical provider
* Claims management procedures
* Once a company receives certification, your workers’ compensation insurance carrier,           will apply a discount to the policy at the next renewal period after certification. A 5                 percent discount is applied to companies with:

* An experience modification rating
* Lower frequency and severity of losses for the most recent policy period      as compared with those from the previous policy period.
* If the company is not eligible for an experience modification rating: The      discount depends on the accident experience during the 12 months                before the renewal date. Discounts are awarded on the number and cost      of accidents and range from 2 percent to 10 percent.

If you have your worker’s compensation insurance through Pinnacol, they provide you with a workbook that walks you through the process as well as providing sample forms. I’ve helped several businesses with the set-up process of their Cost Containment Certification and it can save at a minimum of 5% on your worker’s compensation premiums and more. I had a client saving 13% annually on their premiums.

Enterprise Zone Tax Credit

The State of Colorado provides a range of tax credits available to businesses that are located in what they call Enterprise Zones. You can click on this link to see if you are located in one of these zones, http://choosecolorado.com/doing-business/incentives-financing/ez/. Here are some of the available credits.

EZ – Investment Tax Credit: Providing businesses a tax credit of 3 percent for equipment purchases.

EZ – Job Training: Companies that implement a qualified job-training program for their enterprise zone employees may claim an income tax credit of 12 percent of their eligible training costs.

EZ – New Employee Credit: A tax credit offering businesses $1,100 per new job.

EZ – Agricultural Processing: A tax credit of $500 per new business facility employee may be claimed by business adding value to agricultural commodities through manufacturing or processing.

EZ- Enhanced Rural Enterprise Zone New Employee: Offers $2,000 total per new job for new businesses located within an enterprise zone.

EZ – New Employee Enhanced Ag Processor Credit: Businesses located in an enterprise zone may be eligible for a credit of $500 per new employee, if the business is an agricultural manufacturing or processing business.

EZ – Health Insurance: Offers businesses $1,000 per insured job available for the first two years in state enterprise zones.

EZ – Research and Development Tax Credit: A tax credit for businesses up to three percent, based on the increase of a company’s research and development expenditures within an enterprise zone during the previous two income tax years.

EZ – Vacant Building Rehab: Allows owners or tenants of a building in an Enterprise Zone that is at least 20 years old and that has been completely vacant for at least two years to claim a tax credit of 25 percent of the cost of rehabilitating the building for commercial use, up to $50,000.

EZ – Commercial Vehicle Investment Tax Credit: Offers businesses a state income tax credit up to 1.5 percent on commercial trucks, truck tractors, tractors, or semitrailers, as well as associated parts. Learn more.

EZ – Contribution Projects: Enterprise Zone (EZ) Contribution Projects encourage community participation and public-private partnerships to revitalize EZs. EZ Administrators may propose projects for EZ Project status to implement the economic development plan of that specific EZ. EZ Administrators work with their communities to bring forward proposals that meet the economic development needs, result in job creation/retention and business expansion, and have the support of the community. Colorado taxpayers may earn Colorado income tax credits by contributing to targeted efforts. Learn more.

youdeservit

Save Energy, Save Money

Throughout the U.S., everyone is interested in saving energy and money. Many local and state governments are offering programs that provide rebates, tax credits, and more. In my area, our county has a group called Garfield Clean Energy. They offer free walk through to business owners, and will help design an energy plan for you, provide coaching, and connect you with contractors. Rebates are available for up to 50% of a cost of project that will save energy according to your energy plan developed. For more information visit, http://www.garfieldcleanenergy.org/com-rebates.html

Complete an Office Systems Audit

Having an office systems audit or analysis completed takes an in-depth look at where you spend money within your business and provides an opportunity to analyze where savings can be implemented. I personally take it a step farther and look at potential increased revenue streams that might be left untapped.

Generally you review your company as a whole; your business structure, products and services offered, your target market, goals, overall efficiency, expectations, employee morale and turnover rates, training, safety, expenses, sales volumes and reports, marketing strategies, a thorough review of policy’s and procedures, processes, softwares, weaknesses, strengths, exit plan, procurement, contracts, and your future outlook.

Savings and increased revenue are almost always located in an Office Systems Audit and with the New Year coming, this might be a terrific resolution to start your New Year off with a bang.

Tina Holtz is a seasoned business professional with more than 20 years of experience in business development, business management, sales, marketing, and procurement. She is the owner of Executive Business Services, LLC and provides virtual assisting and business support services to business owners, entrepreneurs, professionals, and executives. You can reach her at 970-989-8047 or email at tina@execbusinessservices.com – www.execbusinessservices.com

 

Uncategorized, Virtual Assisting

Don’t Hire an Employee. NOT YET!

 

First, imagine that just by reading this blog article you could save about $40,000 a year? Hmmmm. Read On.

THE PROBLEM

Over the years I’ve found that the majority of small business owners need help in running their businesses but they just don’t know where to turn. Who do they call? No, not Ghostbusters :), but they should most definitely call a virtual assistant. So where can you find this awesome knowledgable professional who is super biz savvy and can help you with multiple aspects of your business? I could give you my number but I really want business owners to know that there are many virtual assistants out there in the market place just waiting to help you. However, if you do want to call me, I would love the opportunity to speak with you.

Virtual Assistants are popping up everywhere thanks to the wide use of technology. As long as I have a computer and smartphone I can work from anywhere, although I do operate my firm most of the time out of my traditional office space in beautiful Rifle, Colorado.

Truth be told, a Virtual Assistant can save you not only a ton of money, but a ton of headaches too! Believe it or not, you may be thinking you need to a hire a full time in house assistant, or a business development manager, or a marketing/sales person. I’m here to tell you, that you may not need to do that at all.

Imagine that I can save you the headache of advertising costs for the position, time in developing a job description, time in establishing work hours and figuring out how to keep that new employee busy, save you the time for interviewing, checking references, and training. That adds up to quite a bit of an investment, on average these costs total around 10% of the annual salary of that new employee. Which means if your new employee’s salary is $50,000 annually, just to hire that person will cost you around $5,000. That’s before they even really get to work. Plus you have to pay for a desk, a chair, a computer, a phone, office supplies, paid time off, worker’s compensation, unemployment, taxes, benefits, and more! PLUS all the time to track and report that information as well. That employee ends up costing you way more than $50,000 annually.

THE SOLUTION

A Virtual Assistant is a true professional highly experienced in business, not only in day to day adminstrative duties, but can also be highly skilled in many other aspects as well. You want to seek a VA that aligns well with your specific needs. It’s kind of like finding a specialist with doctors, you need to ensure that your VA has the skillset you desire and need.

youdeservit
Courtesy of http://www.udeserveit.me

A VA is an ideal solution because you only pay for their services as needed. Perhaps you only need 5 hours of assistance this week but need 20 hours next week because you have a project coming up. Not an issue. You NEVER have to worry about paying for all the stuff you do with an employee because a VA is an independent contractor. You just reach out to your VA, tell them what you need, and BAM! you have a delivered result. Most VA’s charge on average around $30.00/hr for their services, so let’s say you use your VA 10 hours a week, that equals $15,600 annually. If you consider your prospective employee’s annual salary plus all the addittional costs, this is about $40,000 savings per year! That is a huge amount of savings and money well spent for your business.

If you’d like to speak more about virtual assisting, please contact me today.

Tina~Miss Executive