Among all of the other concerns you have as an entrepreneur or solopreneur, cash is usually tight when starting a new business. Getting the help you need to get your business off the ground can be expensive, frustrating, and time consuming so, the obvious question you ask yourself is, can you afford a VA?
By providing business support services on an as-needed basis, a VA will save on the costs, time, and valuable office space associated with hiring an onsite support staff.
As our online economy continues to grow, millions of people have decided seek alternatives to traditional employment, looking for ways to make that growing marketplace work for them. As a result, an increasing number of daring folks have decided to go into business for themselves, offering products or services that fill a niche that they believe will provide them with a livable income and increased independence.
However, many of these emerging business owners have found that, despite their experience and innovative ideas, starting a business requires a skill set they simply do not possess. This is where a Virtual Assistant can prove to be an asset to business owners, entrepreneurs, and solopreneurs alike, helping you to develop systems and procedures that will not only keep your business on track, but will help you grow and prosper.
Yet, the question remains, how can an emerging business afford to hire virtual support?
The Cost of Virtual Services
To help you make a decision, let’s take a quick look at the cost vs. value of virtual support services. Doing this should help you to see that a cost/benefit analysis of the expense involved will actually be in your favor.
While the average cost of a good virtual assistant can be tough to determine, since there is a wide range of services being offered by VAs across a broad expanse of the world, it’s safe to say that you should be able to find quality support for about $35-$50 per hour. You may also be able to save on the hourly rate by purchasing a block of time in advance, say 5-10 of prepaid work. Either way, the best result for you as a business owner is that much of the administrative work you so dislike doing will be in the hands of someone else!
So, what do the numbers look like?
Whether you sell your services directly to clients or simply run your business, your time has value – a great deal of value. For the sake of argument, let’s say you charge (or are worth to your business) $75 per hour. If you spend 10 hours a month on admin, you’re wasting $750 a month in revenue. Plus, the emotional and physical energy spent on tasks you hate to do! Where is the benefit in that?
- Your time = $75 per hour
- Admin work = 10 hours per month
- Your lost revenue = $750 per month
NOTE: An additional cost is the loss of time you have to spend working with clients, which will also cost you future business because they will not refer others to you!
By contrast, a decent VA would be able to handle your admin tasks within the same time frame but at only $35-$50 per hour, saving you $250 to $400 per month.
Better yet, an experienced VA could likely do the same work in half the time so, even at $50 per hour (5 hours = $250), you’re ahead by $500 per month!
Hiring a Virtual Assistant is an intelligent alternative to doing the work yourself or hiring on-site staff. It is a cost-effective solution to maintaining and growing an emerging business; boosting profits and reducing the stress you experience performing tasks you have either not been trained to do, or that you truly dislike.
When you look at the situation this way, the question is not: Can you afford a VA? Rather, the question is: How can you NOT afford to hire a VA?
Are you looking for quality virtual business support from a reputable provider? Get in touch with me today for your FREE Virtual Support Consultation.