In the early days, the value of the Virtual Assistant was only recognized in reducing payroll costs. But as the world changed, so did the markets and more businesses saw greater value in acquiring virtual assistance. No longer were virtual assistants considered just cost-cutting measures; they became a strategic component in business development.
Here are five (5) ways in which a Virtual Assistant can help scale your business:
- Cost-effective option
Businesses hire virtual assistants primarily because of the cost advantage. Virtual assistants have flexible work hours and conditions. They are paid on a productive hour basis which means compensation is released once they have accomplished pre-determined milestones or projects.
Virtual assistants are also essentially self-employed; they are accountable for all the expenses they incur in the conduct of their business. Thus, you don’t have to allocate space for them, pay for their internet subscription fees or entitle them to benefits.
By hiring virtual assistants over full-time employees, businesses are estimated to save as much as 40% in compensation and benefits expenses. If the volume of your business has increased to the point that an additional unit of work will compromise productivity, it is time to scale up operations. Having the extra workload accommodated by virtual assistants will maintain your level of productivity with minimal incremental costs of business.
- Attend to specialized tasks
Gone are the days when the Virtual Assistant was just thought of as a home-based secretary or personal assistant. Today’s incarnation of the Virtual Assistant is more skilled and highly specialized.
The evolution of the Virtual Assistant was spurred by events that changed the global landscape. The business environment became volatile, unpredictable and chaotic that economies worldwide experienced down turn periods. Companies looked for new avenues to maintain productivity but streamline costs.
Virtual assistants grew out of the need to fill this demand for affordable but qualified talent. Today any task that can performed online will qualify for virtual assistance work. It should be of no surprise that you will find virtual assistants handling social media marketing, accounting, legal transcription and other diverse fields of industry.
If your business is ready to scale up, you can hire a Virtual Assistant to oversee just about any new area of responsibility.
- Improve time-management
With the Virtual Assistant, you can finally allocate more time to manage tasks that require your experience, expertise and core competence. In business, these are the tasks that contribute directly to revenue generation.
Virtual assistants perform a primary function of organizing your business. They are experienced in managing your calendar, scheduling your appointments and reminding you of forthcoming engagements ahead of time.
With better time management, you will be able to attend to more responsibilities. In the case of expansion, you will have more time allocated to planning, conceptualizing and testing business development strategies. The more tasks your business completes the closer you will get in achieving your goals and objectives.
- Improve efficiency
The majority of virtual assistants were full-time employees in traditional brick and mortar establishments before they made the transition to the online world.
Thus, they are highly experienced and require minimal training when working on a new project. You should allocate time for the candidate to become acclimatized to the Learning Curve which should slope to comfortable levels in no time because of their experience and level of expertise.
Put simply, you can accomplish more work faster with virtual assistants because you save time on training and allow the business to stay on-course the development time-table.
- Add flexibility to operations
As mentioned virtual assistants have flexible work hours. Since they are self-employed and work from home, the ravages of time and space do not apply to them unlike for full-time employees. They can work during the hours required by the client. This could be of great value if you plan to expand the scope of your business to the international market.
For example, if you are promoting your products and services to the United Kingdom, you can hire virtual assistants from the Philippines to oversee key areas of your business. You can have virtual assistants handling customer service after office hours in the United Kingdom to ensure each and every query and concern are immediately attended to.
Having a Virtual Assistant onboard will go a long way in helping your enterprise achieve new levels of growth.
Not only are virtual assistants cost effective but they contribute directly to the productivity of your business.
When you have a strategy that addresses your both your cost management and revenue generation concerns, you will have the best solution to the profitability equation.