I don’t like using the term “cost-effective” when describing the business that I have built over the past 6 years, but when you break down the numbers, it really is. When you hire the right Virtual Assistant or the right Online Business Manager, you’re not getting just an assistant, you are instead partnering with a strategist. It’s like a mini mastermind. Okay, that’s out, on with the article!
Slowly but surely the business world is getting accustomed to a new way of delegating. For generations we were used to the idea of hiring people to work for us if we needed a specific job to be completed and would take on the responsibility of training them, as well as looking out for their welfare in many respects too. In relation to the work involved this was quite a considerable undertaking and associated cost, but it was the way that things were done and was seen as just the cost of doing business.
In the space of the last generation, however, our ability to communicate with others a lot more efficiently has enabled us to look at this rather differently. Now we are able to interact with others on a worldwide basis without thinking twice about it, efficiently and productively. This has enabled us to outsource work that we would otherwise have kept in-house to virtual assistants & online business managers, wherever they may be.
There are so many advantages attached. When you have located the person (or organization) with whom you want to work, you have a professional entity willing to provide you with first-class service without any strings attached. The virtual assistant is able to schedule time for the work that you’ve asked for, has worked in the field and has undergone whatever training is required to carry out the work, and will be responsible for their own ongoing training to ensure that they remain fresh. They are professional service providers. Compare that to the in-house employee situation.
First of all, will you find a person locally with the appropriate training? Remember that if they have to come into your office each day then that automatically restricts your potential pool of applicants, geographically. Assuming that you find one, it’s in your best interest to ensure that they are “up to speed” with developments in relation to their work and this means that you will be responsible for their ongoing training.
It’s very important to look at productivity. Even the most ardent and enthusiastic employee is not productive 100% of the time. There are so many reasons why this could be the case and only so much you can do about it, in realistic terms. Compare that to the virtual assistant who only charges you for the work they complete. You don’t have to worry about their productivity.
Whenever you employ someone there are some quite substantial additional costs to consider. Legally, you’re responsible for their welfare at work and have to maintain insurance accordingly. You have to pay employee related taxes to the government and “your share” of insurance contributions. Normally you have to contribute to their retirement fund. You have to allow them time off with pay for vacations, typically. You have to give them a certain allowance for those sick days as well.
The Virtual Assistant that you hire may charge $40 to $60 per hour based on their level of experience. Less-experienced VA’s will charge a lower rate, so make sure you interview them well and feel confident in their skills. Employees on the other hand will be paid a much lower hourly rate, but as mentioned above, there are a great deal of costs, training, and responsibilities that come along with it.
When you add it all up and apply it to a single project for comparison purposes you’ll see just what you’re getting and how much of a bargain the virtual assistant really is. Welcome to the new generation!