By Tracking Your Time, ZAPIER
July 12, 2018
What can you expect to pay for a virtual assistant?
As with most professions, rates for VAs are all over the map. So, what can you expect to pay for a virtual assistant?
Here are a few things to keep in mind while you’re looking at virtual assistants and their rates:
Type of Work:
- If you’re looking at entry-level administrative work (email management, basic customer service, etc.), you’ll probably be paying $15-25/hour.
- If you’re looking for higher-level tasks (project management, content strategy, etc.), you could be looking at $50/hour or more. Upwork has posted their average rates for various tasks, which can help you get a better estimate.
- Keep in mind when looking at hourly rates that some people work faster than others. Someone who charges $50/hour might complete a project three times faster—and with the same quality—as someone who charges $25/hour, making it more financially beneficial for you. Don’t be fooled by ultra-low hourly rates.
Pro tip: Paying hourly can be dicey. If possible, we suggest paying per completed project. Quick workers will benefit, and you will know exactly what it’s going to cost you before you start.
- Take into account the VA’s experience level. It might be tempting to go for the cheapest option you find, but extensive experience can be the difference between quality work and work that you end up having to redo yourself.
- Look at client testimonials on the VA’s website and/or their LinkedIn recommendations, and ask for a few client references to reach out to via email.
- If someone isn’t able to put you in touch with at least two or three people who they’ve worked for before, it might mean that they know they wouldn’t receive any glowing recommendations.
The decision is up to you, but keep in mind that major time zone differences and any language barriers can slow down the process and cost you more than the cheaper price is saving you, to begin with.
If your business is ready to work with a virtual business assistant, feel free to contact Lotus Business Resources for a complimentary discovery call.
Click the link below to schedule a no-obligation call:
Click below to leave a message (we will contact you within 24 hours):
If you’d rather call us direct: 732-707-5307
www.LotusBusinessResources.com – YOUR virtual business support specialist!
By Tracking Your Time, zapier.com
July 12, 2018
Running the numbers
Your mental health is the most important factor here, but you are running a business, so you need to take a look at the bottom line and weigh that against any impending burnout. When it comes down to it, you need to be sure that hiring a virtual assistant will save you more money than they’ll cost, so you should be running the numbers!
Start by tracking your time. That’s something you should be doing anyway: It’s an easy way to spot inefficiencies and see exactly where your time is going—compared to where you think it’s going. Check out our list of the best time-tracking tools to get started and find the best choice for you. Once you know how much time you’re spending on each task, it’s time to do some math.
When setting up a time-tracking solution, you don’t want to get too granular with your tasks, but just enough to see patterns. For example, you might track things like “social media” or “press and PR,” but you’ll also want a general “administrative” category for things like scheduling appointments or calling suppliers.
Running the numbers – Scenarios
- Scenario #1: You spend six to eight hours/week dealing with customer questions via phone and email. At $22/hr, that would cost you $132-176/week to outsource to a virtual assistant. In that same six hours, you could be doing something else (billable client work, increasing marketing efforts on Instagram, whatever makes sense for your business) that would make you $300-400. In this case, the numbers show that getting a VA makes financial sense for you.
- Scenario #2: You spend three hours/week dealing with a higher-level administrative task that requires some background knowledge of both the industry and your business/product (e.g., talking to manufacturers). You’d have to find a VA that has the same level of background knowledge you do (and pay higher rates accordingly—say, $30-35/hour), and you don’t have an immediately profitable task you could be doing with the time you’d save. In this case, hiring a VA isn’t worth it for you—yet. Once you have enough other tasks to delegate, you can hand this off, but for now, it makes the most financial sense to keep trucking along yourself.
- Scenario #3: You’ve analyzed your time logs and found that you’re spending five to seven hours/week on administrative work. You have around two to three hours of profitable work you could be doing in that amount of time, so you would more or less be breaking even by hiring an assistant. This is often the trickiest position to be in, since there’s no immediate monetary gain to be had. If you hate the admin work and just want it off your plate, hiring an assistant is worth it—if just for your peace of mind and to avoid burnout.
NOTE: It might also be a good idea to hire an assistant now, especially if you have a busy season coming up in the next few months: By the time your busy season hits, you’ll have your VA fully on-boarded. If, however, you enjoy using those administrative tasks to wind down at the end of a work day, then the delegating pressure is off.
If you are done running the numbers and are ready to investigate how to go about Hiring A Virtual Assistant and Start Delegating, contact us for a complimentary discovery call by clicking the link below:
or call us at 732-707-5307
#smallbusinessowners #hiringavirtualassistant #socialmediamanagement #entrepreneurs
WHAT IS PREVENTING YOU FROM CLEARING YOUR TO-DO LIST?
COLLABORATE WITH US: www.LotusBusinessResources.com
Startup Leadership Done Right
How to Know When to Call in Outside Business Experts
Author: Allan Kunigis (writer for: The Hartford – Business Owner’s Playbook (r)
Part of addressing your organization’s weaknesses is to get help from outside experts who can fill in or add value when and where it’s needed. That can help to free you to spend more time and energy exploiting your strengths, and it can improve your company’s overall results.
Know where you need help.
Smart management involves knowing when to do it yourself, and when it’s better to outsource a task to the best resources from outside the firm. Always consider whether a given problem or challenge could be resolved most effectively by adding to your staff, by improving your staff’s capabilities through training and mentoring, or by outsourcing.
If You’re Using These Words, Then You’re Showing Hidden Signs of Stress!
Interesting article from Entrepreneur magazine – by staff writer, Rose Leadem, Nov 10, 2017
While headaches and mood swings are often indicators of stress, turns out the way we speak is, too.
From mood swings to being unable to fall asleep at night — some things are clear symptoms of stress. However, it turns out stress manifests in many forms, like in the way we speak.
A recent study published by the Proceedings of the National Academy of Sciences of the United State of America found that when people are stressed, they overuse certain words, like “really,” “incredibly” and “very.” By analyzing over 22,000 voice recordings of 143 people who wore audio recorders for two days, the researchers looked at how stress might be reflected in people’s speech patterns.