Virtual Assistant Services Benefits For A Business Owner
If you are business owner you are constantly being challenged by your employees, customers, competition and investors to improve the performance of the business. For instance, this might be the business growth, revenue, service quality, competitiveness, profitability and other metrics. So, let’s take a look at how different virtual assistant services benefits can help improve your business performance.
We need to review some basics about virtual assistant services. Firstly, a virtual assistant (VA) is often an independent contractor who provides services to one or more business clients from a remote location. Secondly, using a virtual assistant is a simple form of small business outsourcing. Thirdly, virtual assistant services are remarkably broad but can be categorized as administrative, creative and technical in nature.
1 – Virtual Assistant Services Save Time
One of the key virtual assistant services benefits is that it helps save time for a business. Time is a business asset that is always limited, cannot be purchased, often wasted and critical to the success of any business. In simple terms, proper time management is crucial to business success, whether it is the owner, a manager or member of the work group.
Successful time management for your business is all about self-control and the ability to assess and justify how your time is being invested. Accordingly, what is critically important to the business should be prioritize, and the remainder should be delegated to a third-party like a virtual assistant.
Here are a variety of administrative tasks that need to be performed, are not critical, and likely should be delegated. Consequently, additional time can be then be dedicated to more critical matters that will affect the success of the business.
- Respond to emails and telephone calls
- Schedule meetings, book travel and accommodations
- Manage contact lists, customer reports
- Organize calendars, ensure regular bill payments
- Address employees administrative queries
- Provide basic customer service contact
Successful business owners can take advantage of one of the key virtual assistant services benefits by maximizing their productive use of time. Specifically, they prioritize and focus on what is important to the success of the business and delegate the rest.
2 – Reduce Labor Costs
Among the virtual assistant services benefits is the potential reduction in labor costs for a business. In effect this should be a fundamental expectation for the business owner since these services are small business outsourcing.
A business owner almost needs to consider virtual assistant services since governmental regulations incentivize business owners to NOT hire permanent employees. Rather, this is a compelling business benefit considering the permanent employee costs, compliance risk, salary/benefits inflation, plus related costs of office space, support infrastructure and training.
Consequently a business owner has a range of hiring options to consider based on desired levels of cost, service quality, scaling and management supervision:
- Outsourcing to a third-party virtual assistant (freelance contractor).
- Contracting to a third-party virtual assistant service provider.
- Outsourcing to a third-party nearshore virtual assistant service provider.
- Contracting to a third-party offshore virtual assistant service provider.
All of the above options will eliminate the associated costs of office space and support infrastructure.
The first two domestic outsourcing options will not add costs related to language, culture and time-zone communications. Also, the latter two international outsourcing options will normally have significant lower costs per service hour due to labor arbitrage savings. Finally, the quality of service delivery should be independent of service location if the business owner has done proper due diligence in the selection process.
3 – Virtual Assistant Services Simplify Scaling
When your small business enters the second phase of its business cycle, the growth phase, it is time to scale up. That is, you need to make decisions to grow and expand your business in a profitable way. Accordingly, the variety of virtual assistant services benefits allows you to manage this growth phase.
What types of growth challenges will your business likely as you scale up? Following are challenges most businesses experience:
- Cash Flow Management
- Increase Competition
- Nurturing A Company Culture
- Delegation & Prioritization
- Adapting To Market Changes
- Abandon What Doesn’t Work
Using virtual assistant services allows you to deal with the above business challenges in a variety of ways. For example these include:
- Lower labor costs and hiring flexibility
- Specialization of new product knowledge, training and support
- Expanded business service coverage (multiple time zones)
- Increase opportunity to delegate and prioritize management decisions
- Increase flexibility for staffing business expansion and contraction
- Supplemental staffing for specialized skill sets for new opportunities
- Strengthening back-end operations to support personnel growth
As the owner, you need to enable and support the growth of the business. This requires planning, funding, systems, staffing, processes and technology. Virtual assistant services provides you options to help scale up your business for these growth challenges.
4 – Increase Flexibility
For a business to be successful in this changing world, it must be flexible. Specifically the business environment constantly experiences rapid changes in technology, economy, client behavior and governmental legislation. Consequently, only businesses that are flexible so that they can adapt to these changes will succeed. Conversely, more rigid businesses will fail to adapt and not survive.
To improve the flexibility of your business, you should be willing to try new methods and processes, regardless if the old processes seem to work just fine. Rather, you need to instill a culture where your personnel look for ways to find something that works more efficiently than what you already have.
Virtual assistant services benefits your business by allowing a range of options to increase flexibility and adaptability to the changing world. Consequently, here are some ideas for you to consider as you evaluate your business flexibility:
- Increase adaptability to change, particularly technology by leveraging a variety of virtual assistant skill sets.
- Improve business employee retention by outsourcing repetitive job functions to virtual assistants.
- Strengthen the talent pool of the business personnel by increasing the diversity of staffing by a combination of both permanent and par;t-time virtual assistants.
- Diversify business functions across multiple locations (domestic and offshore) allows continuity during change and uncertainty.
- Greater ability to adjust staffing, resources and cost structure, due to multiple work groups (permanent and virtual assistants) and emerging technologies.
A business that is flexible responds to change by evolving. Consequently the most flexible businesses don’t not fight change but rather accept and adapt as a normal aspect of the changing business environment. As a result, you business takes advantage the opportunities whenever change comes along.
5 – Virtual Assistant Services Increase Efficiency
Among the virtual assistant services benefits is that it helps increase the efficiency of a business. Efficiency measures how well a business converts inputs like capital, labor and materials into outputs like revenue, products and services.
There are three main areas of business efficiency that greatly benefit by using virtual assistant services: financial, labor and operations. Let’s discuss each in greater detail.
Your business financial efficiency is measured as expenses as a percentage of revenue. Consequently virtual assistant services save time, reduce labor costs, simplify business scaling and increase flexibility. So, this reduces a business’ expenses and increases its revenue.
The labor efficiency of a business is the measure of employee output in an hour of work. As shown above, redistributing labor activities based on priority, value, skill set and cost improves the total level of work group output. Additionally, adapting technology improvements to a distributed work group allows for increased productivity and flexibility.
Operations efficiency is related to the core business processes such as manufacturing and services delivery, since this is where the majority of business costs occur. Because virtual assistant services save time, lower labor costs, and strengthen adaptability to changes in processes and procedures. As a result, the whole area of operations is streamlined over time.
As a business owner you are constantly being challenged by your employees, customers, competition and investors to improve the performance of the business. Consequently, we have presented different virtual assistant services benefits that can help improve your business performance. Lastly the business owner gains valuable experience and reduces risks in the process since virtual assistant services can be done in distinct stages .
Please call us at (888) 339-6699 to discuss how our nearshore virtual assistant services will serve your business needs or Contact Us.