Are you one of the 55% of business owners who believe that the burden of admin is holding back the growth of your company? If so, a VIRTUAL ASSISTANT could be the answer to your prayers!
According to the Centre for Economics and Business Research if small businesses spent just 10% more of their time on activities that generate revenue they could earn, on average, AN EXTRA £4,000. But how do you know if you and your business are ready to invest in out-sourced administrative support?
Here are 5 telltale signs that you NEED a virtual assistant for your business:
1) You're spending less than 65% of your time on activities that generate revenue
It might feel uncomfortable to admit it, but we’re all in business to make money. As an entrepreneur you need to structure your business so that you’re bringing in as much money as possible within the time you have available. This means you want to spend as much time as you can doing whatever it is you need to do to get out there and GENERATE REVENUE.
Inevitably, as your business grows so does all the red tape, admin and the number of processes you need to put in place to keep yourself on the right track. But for some entrepreneurs there comes a TIPPING POINT when the admin monster has started to take over the whole business.
And let me tell you, the admin monster has an insatiable appetite – he won’t stop until he’s gobbled up ALL OF YOUR TIME!
Have you reached the point where you’re spending more than 35% of your time working on jobs that support the back end of your business? Don’t get me wrong, these jobs are important and you definitely don’t want to ignore them but they’re not going to help you SUSTAIN AND GROW your company.
If this is you, it’s a sure sign that you need a virtual assistant for your business. A virtual assistant can swoop in and save you before the admin monster saps the last of your depleted time reserves and smothers your business in red tape!
2) Spending time on your business feels like a drag
I was recently at a networking event where we sat around a large table, in a group and had a sort of business trouble-shooting session. In it, we asked each other what the greatest challenges were in our business and helped each other to work through those issues.
Admin is what fires a Virtual Assistant up in the morning - let them take it on so that you can wake up to a to do list full of the jobs you LOVE again.
Without naming names, one of the business owners sighed and started to refer to the business that she’d built from the ground up as her 9-5, and everything in her body language said that she’d FALLEN OUT OF LOVE with what she was doing. Her passion had completely gone.
As we dug deeper it turned out that she still LOVED THE CORE of her business, but she’d become so bogged down in admin and the back end that she’d begun to dread switching on her computer every morning and wading through it all.
If this sounds like you, then this is a sure fire sign that you need a virtual assistant pronto! If you feel like you want to give up on your business because the burden of administration has taken the joy out of your job, then let a virtual assistant take the load for you. Admin is what fires a Virtual Assistant up in the morning – let them take it on so that you can wake up to a to do list full of the jobs you love again.
3) You feel like you're about to burn out
Burnout or chronic stress can be a scary condition which can happen when you’ve been pushing yourself too hard and not giving yourself to chance to REST AND RELAX. (For more details on the symptoms of burnout Thrive Global has an excellent blog to help you spot the signs).
As an entrepreneur it can be very difficult to know when to stop working and take a break, and to know when you’re trying to do too much on your own. If you’re showing symptoms such as chronic fatigue, insomnia, or even some physical symptoms such as stomach pain or headaches this could be a sign that you’re reaching burn out.
Many entrepreneurs are scared to hand over parts of their business to a virtual assistant because they might LOSE CONTROL of something that they love and have worked really hard for. But hiring a virtual assistant will allow you to take back some of your free time and spend it on recharging yourself, ready for the stuff that needs your special blend of entrepreneurial magic!
4) You're working harder than ever but not bringing in enough money
Does it sometimes feel like you’re working harder than ever but that the money still isn’t coming in like it should? This is another sign that you and your business need a virtual assistant.
You'll start to feel that you're working less but seeing better results from your labours.
As you move forward in your business there will be new processes to learn, new methods to adopt and new systems to put in place. All of these things are absolutely necessary to build a sustainable business BUT they’re not going to bring in the money you need to grow.
A virtual assistant can step in to manage your new systems and processes and free up your time to go out and generate revenue. And you’ll start to feel that you’re WORKING LESS but seeing better results from your labours.
5) You feel like your expertise is going to waste
Do you ever open up your laptop and wonder WHY ON EARTH you’re spending your precious hours manually inputting data into a spreadsheet?
If you’re a highly talented entrepreneur with a unique gift to share with the world – but you’re too bogged down in admin to share it – you need a virtual assistant!
A virtual assistant’s unique gift is their ability to prioritise, organise and get things done so let them share that gift with you so that you’re not letting your great skills go to waste. With the help of a virtual assistant feel more energised and fulfilled in your work because you’re doing what you do best.
When you’re running your own business it can be tempting to try to DO IT ALL. You might be anxious about bringing outsiders in to your business, or you might worry that you can’t afford the help.
But as you scale your company you’re likely to reach a tipping point where you’re spending less time generating revenue and more time working on the back-end of your business.
If you feel overwhelmed by admin, like you’re working too hard on jobs that you don’t enjoy, or that you’re falling out of love with your business it’s a telltale sign that you NEED A VIRTUAL ASSISTANT to support you in your business. So why not invest in the growth of your business and your personal well-being by bringing in the administrative help you need?
Make sure you come back for our next blog where I’ll be talking about where you should go to find the right virtual assistant for your business.
Enjoy the blog? Then make sure you download our FREE Ultimate 5-Step Cheat Sheet to Hire the Perfect Virtual Assistant
If you want to learn more about how to get more productive in your business, and how to out-source effectively, here are some of my favourite LEARNING RESOURCES to help you:
The Foundr Podcast – How to do your best work by working less – with Nathan Chan and Jason Fried of Basecamp
Entrepreneurs on Fire – Build Your Business in Short Blocks of Time – John Lee Dumas and Abbi Perets