Is Using a Virtual Assistant Expensive?
September 21, 2016
I’m a bit biased but I think a better question is, “is not using a virtual assistant expensive?” to which I’d reply a resounding, yes!
Think about what you do in an average day (pre-VA if you’re working with us now). It may consist of marketing, admin, accounts, customer service, business development … and so on. An entrepreneur’s to-do list is never-ending.
Now, if you spent that day on business development and customer service only, how much more value are you delivering to your business. Tasks where you add the most value to your business are the only tasks you should be doing.
Cost Benefit #1
If you outsource your admin, marketing and bookkeeping (for example) it might cost you $500 per week. That’s $500 you wouldn’t need to spend if you were doing those tasks yourself. BUT, if this frees you up to do the high value tasks, ALL DAY, the $500 you invest in a VA means you are now spending your time bringing in an extra $1,500 per week. That’s $1,000 you wouldn’t have been able to achieve if you were spending time on those lower level tasks.
Let’s look at another way to value outsourcing.
Cost Benefit #2
By partnering with a VA you should complement your own skills with those of your VA. If you’re brilliant at presenting workshops but absolutely clueless (or more likely, don’t have the time!) about how to promote them, investing in a virtual assistant means you deliver to sold-out workshops. If we go back to translating this into dollars; investing $250 for your VA to promote your workshop to a capacity of 25 attendees at $399 each is total ticket sales of $9,975. Previously you’ve only been reaching out to your network and on average are selling 12 tickets. By outsourcing skills you don’t have in your repertoire you’ve increased average sales for a workshop from $4,788 to $9,975 … with an investment in your VA of $250.
How to make sure you are utilising your VA:
1. Be disciplined! Guard the time you save by delegating tasks diligently, and make sure you use those extra hours where you can make a difference.
2. Be clear about outcomes. Your virtual assistant needs to know your goals, KPI’s and expectations if they are to meet them. Work with your VA to ensure they have the information and resources they need in order to achieve them.
3. Planning. I do harp on about planning but it’s the basis of everything you do. By defining your goals and breaking these down into tasks, you can then see where you need to bring in resources, skills, time and budget. Being clear, transparent and accountable (and expecting the same from your VA) ensures there are no speed bumps as you hurdle your way to success.
On a final note, while this article talks about the expense / value in outsourcing to a virtual assistant, the same concept applies for just about any professional service provider you take on. If doing so saves you time, brings in expertise you don’t have, and gets things done quicker … then it’s an investment you can’t afford not to take.