How can I afford to hire a Virtual Assistant?
Cost is one of the top reasons why business owners and entrepreneurs wonder if they can afford to hire a Virtual Assistant. And that’s perfectly understandable. If you’re used to working alone and only worrying about paying yourself, there’s no doubt been times where you haven’t paid yourself or kept your wages low, to help the business finances out!
When you start thinking about outsourcing, there’s often a fear that you’ll not only stretch your resources too far, but that you’ll let someone else down, if funds get tight. This then enables you to lean towards delaying that first outsourcing investment and ‘play it safe’ with your finances.
However, here’s the reality. If you’re already thinking about how you can afford to hire a Virtual Assistant, there’s a good chance you need a Virtual Assistant in your business! So how can you get past that fear around affording one, and actually take action towards hiring one?
7 steps to affording a Virtual Assistant
Here’s 7 steps you can take, to get you past that fear, focus on the reality of your situation and find the funds to afford to hire a Virtual Assistant!
#1: Establish what you’ll use a Virtual Assistant for
This first step is an easy one – establish what you can outsource to a Virtual Assistant. Take money out of the equation and look at how a Virtual Assistant can help you and your business.
#2: Know the standard rate and what you’re looking at
I often find that lots of business owners worry about whether they can afford to hire a Virtual Assistant, without knowing how much it’s likely to cost them! The industry standard base rate for a Virtual Assistant somewhere between £25 and £35 per hour – but that rate can fluctuate, depending on their skills, location and experience etc.
#3: See the bigger picture
If you want your business to grow, what are your options? I’m sure you have a big picture in mind, so what will it take for you to get there? Is it something you can (and want) to do alone, or will you need an extra set of hands?
#4: Work out the cost of not hiring a Virtual Assistant
Playing devil’s advocate, if you don’t hire a Virtual Assistant, what will happen? If things stay as they currently are, is that good or bad for you? Are you currently spending your time the way you want it spent – or is your time better spent elsewhere?
#5: Up your game to afford the investment
If you’re thinking you need to hire a Virtual Assistant, but are struggling to find the money, what can you do to find the investment? Could you take on an extra client, have a sale or promote your products a little more? Do you need to make that leap towards growth and trust that having a Virtual Assistant onboard will enable you to sell more?
#6: Implement in stages
Sometimes it’s easier on your finances to gradually introduce a Virtual Assistant into your business. Start with just hiring for a couple of hours a month, before committing to a larger retainer package. What one thing could you hire a Virtual Assistant for, to take off your hands now?
#7: Focus on the return on investment
Know that in hiring a Virtual Assistant, you’re making room for larger growth. If you’re not doing everything on your own, you can focus on what you’re great at, whilst hiring someone to handle the other aspects – meaning a better return on your time and your initial investment, as well as a greater opportunity for financial growth.
If you’re currently questioning whether you can afford a Virtual Assistant, it is a dilemma that can leave you stuck. But if you use the steps above, you’ll find a solution that works for you, as well as a way to move your business forward!
If you’d like to discuss this further – get in touch – my inbox is always open!