I WISH that I'd factored that in as soon as I started my business(es)!
When we start a business, we put a bunch of things in place;
- Register your business name
- Set up a business bank account
- Look into insurance requirements
- ... and a bunch of legal matters
- Set up your office
- Buy your equipment
- Purchase or subscribe to specific software and online tools
- Register a domain name
- Build a website
- Claim your Facebook and Instagram handles
- Work on your branding, logo and all those visual assets to present yourself to the world in the best possible way
- ... and so much more!
And right from the beginning, while all that is going on, there's work to be done!
You've possibly already realised you need to outsource your books to an Accountant and a bookkeeper, but what about all the other things that are either;
1. Not your forte
2. Not enjoyable
3. Not creating revenue
4. Things that someone else can do a better job at/of
5. Tasks that you need to do over and over
So let's break it down;
Scenario 1: You're consulting or coaching for $300 per hour.
It's Monday, and you have your first client. You've made $300.
But you then spend four hours writing the quote and proposal, sending the agreement, preparing the invoice, following up with emails, writing notes on the client, entering their details into your CRM.
PLUS you're also scrambling to create content to promote yourself, engage with your audience, create newsletters, update your website, write blog posts, network, get on sales calls and chase up leads. Aarrgghh the list is endless!
If you are charging $300 an hour, then you just earned -$200!!! You're going backwards, and you've only just begun!
When you set up your business with a VA as part of your team, that's someone else who is supporting you, handling the tasks that are not revenue-producing, so you'll see GROWTH right from the start!
So now, you have a virtual assistant, it's the following Monday, and you have another client. You charge that client $300.
Behind the scenes, your virtual assistant is doing three of those hours of admin work that you did yesterday, PLUS another three hours on marketing!
You can then use those SIX hours to get on sales calls, to write your awesome webinar, to go live on Instagram and Facebook, to CONNECT, to NETWORK, to see more clients, because your time is free'd up to do what you do best! ... you have the potential to grow your business FAST because THOSE ARE THE REVENUE-PRODUCING TASKS.
More often than not, we look at it in reverse. "When I make x amount of revenue, I'll hire someone to help" but the problem with that way of thinking is that it takes so much longer to get to x if you are spending so much of your time doing the things that aren't in your genius zone, and DON'T CREATE REVENUE.
If only I'd realised this when I started my business, but it took me years to figure it out! I've hired part-time admin help, and sub contractors to work on various projects with me, even a couple of part-time VA's for contract work and set periods of time ... and I did ALL THE THINGS myself! I couldn't grow as quickly as I needed to, and I was spending all my weekends catching up on the admin. It was sink or swim time. So, I put my floaties on, and I decided to SWIM!
... and do the things that I'm best at, that also bring me JOY! Like making promotional video's in between meeting with clients, because that's my jam!
Don't think that getting my first VA was all smooth sailing though ... I was nervous at the commitment, both financially and personally, but my first VA Merlyn jumped in boots and all and we've not just been swimming but SAILING ever since! We've had more VA's join us since, which has enabled Hello Media to grow and grow. Merlyn is now our Chief Operations Manager, and trains our team. They all start as marketing assistants, and move through the ranks as the company grows, and we discover together where they're talent, skills and joy lies. We are all part of a TEAM, we chat daily, we hang out on zoom, we laugh together and we have one goal in mind - to support each other and soar, because we're all about growing and giving. (Find out more about that here)
I know business owners who have been in business for YEARS and are STILL splashing around in the shallows because they don't yet get the formula;
If you're ready to grow your business, expand your team, and hand over some of the tasks, then book a free discovery zoom and let me tell you all about what you can do ... it'll be a game changer!
OR you could get in touch directly with the amazing Melonie Taylor who recruits and trains VA's and can tell you all about her VIRTUAL ANGELS through her business, Success On Purpose.
Make 2023 your best year yet - hire a VA and prepare for growth!