Handling the Business Growing Pains
It’s exciting when you grow your business. Things pick up, you make more sales—you are in demand. You are reaching more people than ever before who are then sending even more people your way. It’s great, right?
The only downside to growing your business is the growing pains. Now that you’re so busy, you have limited time. You have a to-do list that is so long it can be seen from outer space. You can’t keep up with the demand, and you find yourself ignoring your administrative duties so you can provide the customer service you’re known for.
Hitting the milestone of being able to afford office support is one you’ll never forget. But before you jump into the employer pool, explore your options. We are so accustomed to the idea of hiring employees, that it’s often the only option we consider when we need help. It’s the standard approach, with tried-and-true pros and cons. But the times are a’changing, and you aren’t limited to becoming someone’s boss anymore.
What are the options?
Have you ever worked for a company that didn’t do their own payroll? They outsourced to another company who would turn every employees’ hours worked into a professional-looking paycheck with pay stub attached. By outsourcing payroll processing, the company is saving itself a lot of time and (in most cases) money. They don’t have to hire someone on, train them, and find other work to keep them busy for the hours they are scheduled (or worse, hope they don’t need extended hours to run payroll).
Just as outsourcing payroll provides those companies with a list of benefits, outsourcing your administrative support will provide all of the same benefits to you. You can outsource an entire administrative function of your business to another company.
Most people often think of accounting and bookkeeping, because it requires a skill set many business owners lack. It’s also really important to stay on top of bookkeeping and accounting. Otherwise, you could financially cripple your business and never know it until it’s too late to remedy.
The trouble with outsourcing is consistency of service. It’s terribly hard to develop a relationship with firms that take on an entire function for your business.
Think of an accounting firm you’ve called recently. If you’ve called more than once, you probably noticed someone different answered your call each time. Work is typically assigned to whomever is available at the moment the phone rings or you walk through the door. So even if you find someone within the company that understands and works well with you, that may not be the person you deal with consistently. You’ll spend time explaining yourself over and over every time you need something completed.
Hiring an employee is what most people opt to do because it is familiar. While you’ll have an employee to perform the work, you’re adding an additional role to your plate as business owner. You’ll become the HR department and supervisor.
You need to consider an appropriate salary and benefit package to keep your employee satisfied because it can be more costly to constantly train help than it is to pay the right help well. Also, be sure to talk to your accountant about paying quarterly employment taxes, and consult with your insurance agent about carrying work comp insurance.
Traditional employment is by far the most expensive option. But only you know what would be best for you and your business.
This option provides support by one person, providing consistency as well as affordability. The virtual assistant is not onsite, but is available by phone, email, text, Skype, and occasional onsite meetings if in the same vicinity. A virtual assistant is already schooled in professionalism, confidentiality, and many of the soft skills business owners need.
They also have the hard skills desired to perform the work—Microsoft Office, Internet, calendar management, email management, database management—and a nearly never-ending list of other skills needed to assist business owners with the growth of their business.
We live in a fast, technologically-advancing society. Virtual support is keeping up with the advancements. The number of people working from home is growing. Studies have shown that in addition to the benefits virtual support provides to business owners, it also provides benefits to the virtual assistant. People working from home are more satisfied with their work, are able to perform at a higher level because they are able to be more focused, and they are more flexible just to name a few of the benefits.
Do you know what’s right for you and your business? If you’re still not sure, think about your own personality for a moment. Do you dread having to explain yourself over and over? Does the thought of disciplining an employee leave you nauseated? Would you rather have a professional who already has all the skills? If you answered yes to those questions, then a virtual assistant is right for you.
At Signature Virtual Assistance, we provide a free consultation to anyone considering virtual support. Contact us today for your free consultation to see if this is the right fit for your growing business!