How a Virtual Assistant Can Make You More Money 7 Secrets Successful Business Owners Already Know By Yvonne Weld - Your VA Matchmaker http://www.yvonneweld.com
Can I really make money with a Virtual Assistant? The simple answer is yes you can! For many of us our first introduction to the world of Virtual Assistance is when our Business Coach says you need to get a VA. Like many as soon as you heard this statement your mind immediately filled with questions such as What s a VA? Where do I find one? and How am I going to afford one? So let s start there first! Let s get back to basics and answer some of those questions before I share the secrets successful business owners already know about how to use your Virtual Assistant to make more money. What s a VA? A Virtual Assistant is someone who owns their own business and provides customer service, administrative and/or technical support to business owners virtually. When I was a Virtual Assistant myself, I used to simplify that description even more by simply saying I can do anything an in-house secretary can do and thanks to today s technology, and especially the internet, I can do it from my own home! What can they do for your business? Virtual Assistants provide a variety of services for their clients including any or all of the following: Administrative support such as basic typing and/or transcriptions, spreadsheet work, powerpoint presentations, formatting, editing and proofreading documents, etc. Social media (Facebook, Twitter, LinkedIn, etc.) support including monitoring your networks, posting to your networks, building your list of followers, creating Facebook ads, etc. 7 Secrets Successful Business Owners Already Know Page 2
Customer support such as phoning your clients, sending out contracts and other documents, answering your customers inquiries, handling customer complaints, etc. Technical support such as website maintenance, setting up templates for email newsletters, creating images for Facebook ads, troubleshooting email issues, etc. Online marketing such as blogging, email newsletters, setting up email campaigns (also known as autoresponders), teleclasses, webinars, turning your knowledge into sellable products, etc. Where do you find one? Of course the best place (okay I am biased) to find a Virtual Assistant is with Yvonne Weld, Your VA Matchmaker (www.yvonneweld.com) but there are a few other places you can look too. Do a google search for virtual assistant Ask your friends and colleagues for recommendations Submit an RFP to an online directory such as IVAA (www.ivaa.org) When is the best time for you to get one? I always say it s like the ole chicken and egg story. Do you get your first VA before you get busy, become successful and are making lots of money or when you are so busy trying to run your business that although you can now afford a VA trying to find the time to find a VA and train them just is a concept you can t imagine. Why a VA and not an employee? There are many advantages to choosing a VA vs. an employee. Here are 3 of my top reasons: 1. With a VA you only pay for what you need, when you need it. For example one month you may need a lot of support and the next month you may need very little, most can offer the flexibility 7 Secrets Successful Business Owners Already Know Page 3
you need. With employees there is often some sort of guarantee of hours in order for them to stay with you. 2. VAs take care of their own employee related expenses including taxes, benefits and sick time. 3. With a Virtual Assistant, you don t need a physical space, equipment and software for them to do their job. How much do they cost? Most Virtual Assistants charge anywhere from $25 - $75 hour, but I have also found VAs that charge less (and also a few who charge more). Keep in mind though that I always remind my clients that hourly pricing is irrelevant; you may find a VA who charges $50 per hour that will take an hour to do a task and another VA who charges $25 per hour, but takes 3 hours to do the same task. Try not to fall into the trap and get caught up in how much the VA charges per hour. Once you ve read my report you will see why hourly cost is secondary when deciding to work with a Virtual Assistant!! How can I afford a VA? For most of us our first reaction is to pause and convince ourselves we can t afford a VA (whether it be we can t afford the cost or the time), but the honest truth is you can t afford not to have a VA. The true root of the problem with all of this is, like most entrepreneurs, you are looking at Virtual Assistants in the wrong light; you see a Virtual Assistant as an expense and not an investment. I know it s a hard concept to understand and that is why I wrote this report to show you exactly how you can use a Virtual Assistant to make more money in your business. Read on to learn the secrets successful entrepreneurs know, about just how to do exactly that 7 Secrets Successful Business Owners Already Know Page 4
SECRET #1 VAs can help you automate systems to cut down costs incurred from repetitive tasks There are many tasks that we perform as an entrepreneur that are repetitive. Problem is most entrepreneurs just keep repeating the tasks over and over again. Some examples of these tasks are: Scheduling client appointments Maintaining our calendars for upcoming events Staying in touch with our clients (present, past and future) Internet Marketing such as social media (facebook, twitter, LinkedIn, pinterest, etc.), blogging and newsletters, etc. Selling products and services easily from the point of your first interaction with a potential client right through to their purchase and even the follow up to ensure they are satisfied with their purchase Sending out forms, documents and resources to clients (both existing and potential) When you begin to automate some of these tasks the amount of time you are able to gain back in your business is amazing. Even better, the time savings will equate into endless dollars saved for your business. Having your Virtual Assistant look at the systems in your business and suggest ways to automate is a fantastic investment in your outsourcing dollars. It may take time to setup these systems, but the money they will save you over time will provide you with a huge return on this cost. 7 Secrets Successful Business Owners Already Know Page 5
What Successful Entrepreneurs Know About Secret #1 By automating your systems you don t have to constantly try to remember how you did it the last time; your systems can do the remembering for you! Automation allows you to create a business which runs on its own. You hear about people that make money when they sleep and/or are on vacation, this could be you too! Automation can mean reducing the overwhelm and stress caused from trying to fit everything you need to do into a day to not only meet, but exceed your client s expectations. The right automated systems can automatically touch not only your clients, but your prospects too and keep you top of mind all the time! By getting the how to s of your business out of your head and leaving them up to automation you are able to leave room for ideas to blossom, especially the ideas that can generate even more income. Most importantly, when you have an automated business, anyone with the right knowledge can step in to help you manage your business. You no longer have to worry about being the only one who knows your business. What specific difference will this make for your business The time savings gained from automation is HUGE and this time ultimately means more freedom for you imagine being able to take a holiday without the worry your business will fall apart in your absence. Even better imagine making money while you sleep, vacation and better yet attend a networking event or conference without any extra time investment from you! 7 Secrets Successful Business Owners Already Know Page 6
SECRET #2 VAs have a lot of experience you can tap into so you don t have to reinvent the wheel I am sure as an entrepreneur that you have come up with several fantastic ideas to implement in your business. Even though your idea may be a one-of-a-kind thought, program or invention, the process to get you there will never be unique! There are tried and true methods to implementing just about any idea in business and your Virtual Assistant is probably one of the best resources for helping you bring your ideas to fruition. When you begin to harness your Virtual Assistant s previous experiences with other entrepreneurs to assist you in bringing your ideas to life you will be amazed at the time and energy you can save yourself. Ask yourself: Do you know how to create and implement a successful online marketing plan and do you even know what an online marketing plan looks like? Do you know how to setup a system to accept payment and deliver your product or idea seamlessly to your potential purchasers? Do you know how to make it easy for people to pay you and decide (on the spot) to work with you whenever they are ready (even if it is 3am)? Do you know how to get the word out about your business or idea or are you still the best kept secret? 7 Secrets Successful Business Owners Already Know Page 7
A Virtual Assistant does know the answer to these questions and even more! So stop wasting time (and dollars) trying to figure it out on your own and ask a Virtual Assistant to help! What Successful Entrepreneurs Know About Secret #2 How many times have you thought I see everyone else doing in their business with success, but I wouldn t know where to start? Stop trying to figure things out and just start trying some of these things. Leave it to the experts who already know how to make it work! Quite often when you share your idea with your Virtual Assistant you will find them saying things such as I know what can make this even better. Remember your VA has been there, done that with others, many in your industry, and knows what is likely to work and what isn t. Rely on their expertise and what could have been a great idea for your business can be even better than you first imagined. Figuring out as you go and learning for yourself can mean you come off as inexperienced and unprofessional not a reputation you want to try to recover from. Way too many times entrepreneurs put together sales pages and create campaigns where links don t work or where steps in a sequence are missed, simply due to lack of expertise. Doing things like this can cost you money and your reputation! What specific difference will this make for your business Time is money and with a Virtual Assistant there will be no more reinventing the wheel and figuring it out as you go! Even more importantly imagine the money you can make from knowing you can jump on any opportunity that comes your way as you have someone in your corner to help you with the behind the scenes no more figuring out if you can make it work in your schedule hire the team and you can make anything work! You can buy time!!! 7 Secrets Successful Business Owners Already Know Page 8
SECRET #3 VAs can use their expertise to cut down on the time it takes to do tasks Many times we hold back from delegating a task because we convince ourselves we can t afford to delegate that task. Here is a simple fact you are likely overlooking. It takes us a lot longer to do tasks that we lack an expertise to complete!! So many times we look simply at how long we take to do a task when we consider delegating that task. Perhaps it takes you 4 hours to complete your invoicing each month. A Virtual Assistant with expertise in this area will know shortcuts for completing the tasks and may very well complete the task in a fraction of the time. When determining what tasks to delegate never look at how long a task takes you in order to budget the cost that task will take. In most cases this number will be largely skewed. Instead consider this When you don t have to spend those 4 hours doing invoicing, what money generating tasks could you perform where only you have the expertise needed? Utilizing your Virtual Assistant s expertise and having them complete tasks that you lack the expertise to complete will pay off in the long run and free your time to generate even more money for your business! 7 Secrets Successful Business Owners Already Know Page 9
What Successful Entrepreneurs Know About Secret #3 Entrepreneurs are spending way, way too much time learning techy programs and troubleshooting things that are over our heads. To be a success you need to realize that you need to spend the time where you belong in front of your clients and on other money generating activities. There are many hats to wear in business, but not every hat will have a good fit. Reduce the stress of trying to be perfect in every aspect of your business and admit there are things a) you don t like and more importantly b) you just have no desire to learn. Once you admit to the fact that you don t have to do everything in your business, the success will quickly follow. In this techy world things are constantly changing, especially with social media. Remember, you don t have time to keep on top of the changes because I guarantee just as you figure something out they are bound to change it! This seems to be how technology works. Your time is definitely better spent elsewhere! What specific difference will this make for your business If you are like most entrepreneurs you are wasting way too much time on the wrong things and spending time learning things we really shouldn t be taking the time to learn. Way too often I hear entrepreneurs talking about how they spent money attending classes to learn about how to use social media or they spent hours trying to teach themselves how to post a video to YouTube. Instead imagine what your business could look like if you were spending your time and your money on events which will get you in front of your ideal client. Doing just that should be your only focus when choosing where to spend both your time and your money. 7 Secrets Successful Business Owners Already Know Page 10
SECRET #4 VAs can find business opportunities for you that will grow your business Perhaps one of the best (and most under-utilized) ways to use the services of a Virtual Assistant is to research opportunities for your business growth. Here are just a few examples: Researching speaking, sponsoring and exhibiting opportunities where you can get in front of your ideal clients Sourcing potential partners in your business who can help you spread the word about your business and bring in client referrals because they have a similar target market as yours Setting up LinkedIn groups where your ideal clients are hanging out so you can participate in these groups and show your expertise to your ideal clients Imagine the opportunities that could come to your business on a monthly (and even weekly) basis from just a small investment of your outsourcing dollars. These opportunities are likely to generate amazing results for your business and the opportunities alone will mean added dollars to your bottom line! What Successful Entrepreneurs Know About Secret #4 We all know that businesses are built best by not only showing your expertise, but by building your know, like and trust factor. Your Virtual Assistant can assist with this by monitoring your Facebook and LinkedIn groups and bring to your attention questions that are being asked where you have an expertise to share. This simple step is a great way to increase your know, like and 7 Secrets Successful Business Owners Already Know Page 11
trust factor and lead to many opportunities for your business without investing your own time, especially for those of you who wouldn t have a clue where to start! When your Virtual Assistant is spending the time sourcing opportunities this step of the sales process is removed from your daily task list. You can concentrate on showing your expertise, rather than trying to source the best resources for capturing leads and opportunities. Once you have your Virtual Assistant staying on top of upcoming opportunities you can take it one step further as well. A great way to build your reputation and make people feel important is to let them know you sought them out! Imagine how you would feel if you attended a conference next week and an attendee came up to you and said Hey, [insert your name here] I saw your name on the attendee list and I ve been anxious to meet you because I was really impressed with your website and wanted to learn more about your business. Wouldn t that make you feel pretty great? A Virtual Assistant can give you the opportunity to give people this feeling. Take the time to let your VA know about upcoming events you will be attending and they can look at the attendee list for people you absolutely must connect with! They can create a list for you of 5-10 must connect with people at each event and arm you with background information so you can get the most out of the event and make those contacts feel special! What specific difference will this make for your business: Just a small investment of your VAs time can lead to 100 times the investment and more! If you do anything for your business I suggest doing this one small thing. Find a Virtual Assistant to take just 5 hours per month to source opportunities for you. 5 hours per month may cost you anywhere from $100 to $250, but what income could just one opportunity garner for your business? Ultimately it is important for you to remember that increased opportunities = increased revenue! 7 Secrets Successful Business Owners Already Know Page 12
SECRET #5 VAs are invested in your business success you need to make more money and they want to help you do just that Virtual Assistants are business owners too! The bottom line is, if their clients are not successful then they will not be successful in their own business. They need you to make more money because more money means a higher budget for their services! Start seeing (and treating) your Virtual Assistant as a true partner in your business. Bring them into your dreams, your goals and your vision! When you begin to treat them as so much more than an assistant the results will be amazing! Providing them a vested interest in your business and making them a part of your success will mean a loyalty which will bring amazing results to your business! Consider this are you more likely to work harder for a boss or a business partner? The same holds true for your Virtual Assistant. It has been proven time and again that when you begin to treat your Virtual Assistant as an integral part of your business this investment will create loyalty and having a loyal team is priceless for the success of your business. What Successful Entrepreneurs Know About Secret #5 As an entrepreneur many of us suffer from shiny object syndrome. There always seems to be some new gadget, some new program, some new way to make more money in our business that 7 Secrets Successful Business Owners Already Know Page 13
keeps us distracted. When you share your ideas and your big picture with your Virtual Assistant, they can keep you in-line and accountable to those ideas. Way too often we don t make money as an entrepreneur because we have way too many unfinished projects. Unfinished projects mean zero income. Finishing just one project can provide you with the income you need to cover the expenses needed to move onto the next project! Every Virtual Assistant knows that as your bottom line increases your VA budget will increase as well and it s like the snowball effect! Virtual Assistants want you to succeed because they know success means an increased need for their services! A VA gets it more than an employee ever will and the simple reason is because they are business owners too! As a fellow business owner they understand the ups and downs, the demands and are often more willing to help you ride the ebbs and flows! They can help you plan for these ups and downs and help you time your new product/program launches to smooth out those ups and downs! What specific difference will this make for your business: Having a Virtual Assistant in your corner means you can focus on where you are needed the most. Increased focus = better results = increased income! Increased income = increased budget for your VA = increased income for them too! It s a win-win for everyone! Just one last thought when your VA is truly your valued team member your clients will quickly learn their role in your business and see them as the go to person for the administration leaving your relationship to how you serve them best sharing your gifts = Better relationships with your clients! 7 Secrets Successful Business Owners Already Know Page 14
SECRET #6 VAs can help you love your business again and help you get out of Entrepreneur burnout When we went into business on our own many of us didn t realize all of the hats we needed to wear. Business isn t just about following your passion and doing what you love, but rather there are a lot of aspects (most equally as important) which most business owners absolutely hate! When you try to keep up with all the needs of your business you can quickly begin to suffer from Entrepreneur burnout and this can lead to begrudging your business. Many eventually begin to hate their business and find it very hard to be passionate once again. These people need a Virtual Assistant. Imagine how rejuvenated and energized you could feel if each day you only needed to concentrate on those tasks which you loved imagine where your business could go! The sky truly is the limit (especially financially) when you have the energy and the enthusiasm to develop and nurture new ideas for your business. For this reason alone you really need to stop convincing yourself no one can do it as well as you and begin concentrating on only that which truly no one but you can do for your business. What Successful Entrepreneurs Know About Secret #6 Remember that feeling when first started your business? For those suffering the effects of burnout you may feel like you will never be that excited again. As someone who has been there, 7 Secrets Successful Business Owners Already Know Page 15
I m here to say, you can get back to it! Once you begin to feel passion and excitement for your business again and release the things which are draining on you right now, this is when ideas will flow and once again your business will begin to increase! If you are telling yourself your clients don t know you are stressed and close to burnout, believe this statement is probably not true. Clients are perceptive, especially those who have been with you for a long time. They can feel when you lose the excitement. Would you want to work with someone who wasn t excited? Maybe your long-term clients are staying with you for loyalty, but it will be very hard to attract new clients when your passion just isn t shining through any more. Ask any business coach and they will agree mindset is everything in business. Stress and exhaustion can play tricks on your mind and convince you of things which just aren t true. Reducing your stress and moving away from burnout with the help of a Virtual Assistant will get you in the right mindset for success. Burnout is caused by constantly having to do things we hate, things we aren t good at and the frustration caused by this! When you stick to what you do best and delegate the rest this will move you one step closer to loving your business again! What specific difference will this make for your business: There are 3 stages in business birth, growth and death. Stress from entrepreneurial burnout will ultimately lead to death. When you can reduce stress you can get back to growth! Growth is where the money is! No one wants to see their business (and their dreams) die! Perhaps the best way to avoid entrepreneurial burnout is to find more time in a day to spend on life, on the things you love and with your loved ones! VAs give you this opportunity! 7 Secrets Successful Business Owners Already Know Page 16
SECRET #7 VAs are actually an investment and not a cost!! This is definitely a mindset issue for most entrepreneurs. They forget to look at their Virtual Assistant as an investment in their business and not a cost. If you contract with a Virtual Assistant (or added more hours to your VA budget), what could you do with that extra time? Attend an event and meet new potential clients Develop a new idea to increase your residual income Spend the time on billable projects rather than non-billable tasks Instead of looking at the costs associated with your Virtual Assistant begin to look at how you can invest that time back into your business to grow it exponentially. Remember the sky is the limit stop complaining you don t have enough hours in the day! When you contract with a Virtual Assistant and take the tasks off your list you hate, or more importantly are not a good use of your time, your business will take off. It will be at this point you will truly understand and see your Virtual Assistant as a business investment! What Successful Entrepreneurs Know About Secret #7 We all hear again and again about the 80/20 rule 80% of your results are the direct effect of just 20% of your efforts. Why not focus your time on the 20% which are money generating activities imagine the results you could have not only in your business, but in your life! 7 Secrets Successful Business Owners Already Know Page 17
One of the biggest advantages of working with a Virtual Assistant is flexibility; you only pay for what you use! VAs are willing to work on your schedule; if you need 50 hours this month and only 10 the next this is possible with a VA. This will allow you to budget for the ebbs and flows of your business and when you know your income will be greater, you can invest in more time with your Virtual Assistant. In business everything is about ROI (return on investment); the ROI of a Virtual Assistant can be huge, if you take the time to look at it the right way. Ask yourself these questions o o o What is your time worth? What is your business worth as it is today? What money are you leaving on the table each day? Spending time on mundane tasks and not money-generating tasks which move your business forward is costing you money every single day! The most important thing about a Virtual Assistant is to just start. Don t be afraid to start small because with a Virtual Assistant this is a possibility. What could you do with just 5 extra hours a month? 5 hours could be spent o o o To attend a new weekly networking event and attract clients. To take on a new client. To work on a new product that has been shelved for months because you just don t have the time! The hardest step will be to delegate that first task and I guarantee it will get easier from there! If you don t know where to start, let me give you a suggestion. Put a pad of paper beside your computer for the next week and every time you do something you hate doing, don t have the skills for or fall under the category of time-sucker and/or time-waster, write it down. This will be a great starting point to creating your task list for your VA. 7 Secrets Successful Business Owners Already Know Page 18
What specific difference will this make for your business: Ask yourself this question, What is not having a VA costing you? Take a good hard look at your bottom line what are the time suckers and wasters you are presently giving into? Imagine if the time spent on those tasks was freed to do something else, in particular a money-generating task. Take a look at this final example, which better shows how using a Virtual Assistant actually increases your income in your business. Yes your costs are increased by having a Virtual Assistant, but so too is your income bottom line you are making more money and YES! A Virtual Assistant is an Investment NOT an expense! Let me show you what I mean INCOME GENERATED (A) COST INCURRED (B) NET INCOME (A B) You do a task yourself because you have not invested in a Virtual Assistant and the task takes you one hour to complete You hire a Virtual Assistant and she spends one hour doing the task and you are able to spend this time on a money-generating activity $0 $0 $0 $300 $50 $250 * Note this example uses a VA hourly rate of $50 and an hourly rate for yourself of $300. Please feel free to substitute your own rates for more accurate calculations 7 Secrets Successful Business Owners Already Know Page 19
NEXT STEPS: If the content in this report hasn t yet convinced you how you can make money with a Virtual Assistant, perhaps seeing it in this charts will. Secret #1 Automating systems Just one task is automated and saves you 5 hours each week 5 hours x $300 per hour = $1,500 per week Potential Savings/ Increase in Income $1,500/week Secret #2 Reduced Training Time Time saved in Secret #1 allows you to use the time to create a new product You sell 1 product per week x $247 each = $247 per week $247/week Secret #3 Time spent on money generation You attend a networking event instead of figuring out Facebook New client = $500 per week income Secret #4 New business opportunities Speak at an event your VA found for you through their research 10 attendees purchase your produce @ $247 each Secret #5 Loyal partner in your business Your VA keeps you focused and encourages you to finish a project you previously shelved Sell the new product to 5 of your existing clients @ $1000 each Secret #6 Decreased entrepreneurial burnout Your new passion for your business shines through and your existing clients are excited and eager to refer you to others 3 new referrals @ $1,000 each. $500/week $2,470 $5,000 $3,000 Secret #7 Investment not cost! See the example on page 17 of this report $250/hour * Note: These numbers are for example purposes only and not a guarantee. Please feel free to substitute your own fees and time to get accurate numbers. 7 Secrets Successful Business Owners Already Know Page 20
One Last Note Worthy of Repeating: As entrepreneurs we are constantly saying there doesn t seem to be enough time in the day to get everything done we would like to do. Not enough time to attend networking events and schmooze with potential clients Not enough time to turn our ideas into profit-making products Not enough time to relax and enjoy what we have built! Bottom line just not enough time for anything! What could you do if I was to give you an extra 6 weeks this year? Imagine what your business would look like Giving yourself the gift of a Virtual Assistant can do just that! Consider this if your Virtual Assistant took just one task off your plate (you choose the task) and you are currently spending 1 hour each day on that task, here are the calculations 1 hour per day = 5 hours per week = 20 hours per month = 240 hours per year = 6 weeks! Now that I know you are ready to take the next step, call me at 519-243-1312 so we can talk about how working with a Virtual Assistant can put more money in your pocket and reduce your stress! What will you do with your extra time? 7 Secrets Successful Business Owners Already Know Page 21
ABOUT THE AUTHOR: Yvonne Weld has become known as the VA Matchmaker. In her role, Yvonne helps entrepreneurs find (and learn how to work with) their ideal virtual assistant, based on their own unique needs. She is passionate about helping mompreneurs like her find their ideal VA so they can discover the freedom (just as she has) to enjoy family time without guilt, knowing their business is still growing and producing an income without having to give into their previous workaholic ways! Like many of her clients, before finding her own first Virtual Assistant, Yvonne had become a workaholic by chance and certainly not by choice. She was tired of working way too hard for very little returns and knew it was time for a change! Yvonne brings 8 years of experience running a successful VA business and the understanding of what does and doesn t work in a successful VA-client relationship into her business. During her years as a VA she quickly became an icon in the industry and mentored several VAs through her roles as Success Partner with Canadian VA Networking (2006-2010), VA-Insider President with VAnetworking (2010-2012) and Director of IVAA (International Virtual Assistants Association) (2012-2016) including as President in 2015/2016. This status in the VA world allows her to hand-pick an ideal VA for you from the many personal connections she has made over the year with top-notch Virtual Assistants. 7 Secrets Successful Business Owners Already Know Page 22