Month: March 2024

What is a virtual assistant?

So what does a virtual assistant do? A virtual assistant is an independent contractor that offers administrative services to a company remotely. The term “virtual assistant” emerged in the 90s to describe the burgeoning trend of virtual work— thanks to major technological innovations, workers could begin sharing documents and taking important business calls from outside their offices.

Virtual assistants have surged in popularity over the last few decades due to the evolving nature of business. Many companies are opting to save money on large office spaces and bloated teams, and instead are investing in flexible work arrangements and schedules. The result is a more agile and modern approach to team organization and project management.

Types of Virtual Assistants

Virtual assistants come with different skills and specializations. Each one can help you with a specific function or department of your business. Below are just a few examples of the different types of virtual assistants available:

1. Bookkeeper – Great with accounting and tracking budgets for various projects.
2. Administrative Assistant – Schedules meetings, completes routine reporting, and handles communication between executives and outside entities.
3. Scribe – Types notes during meetings or presentations.
4. Social media manager – Handles the company’s various social accounts.
6. Designer – Designs presentations, infographics, logos, flyers, and other visual collateral.
7. Research Analyst – Conducts research tasks or interviews and analyzes business data.

The role of a virtual assistant can also change depending on the business. Some companies may even hire virtual assistants that handle multiple responsibilities at once.

4 Benefits Of Having A Virtual Assistant

Reduce operating costs

Virtual assistants can provide inexpensive yet invaluable services to your company, allowing your operations to reduce cost. They may also allow you to hire a freelance assistant on an as-needed, rather than full or part-time basis.

Save time on initiatives and projects

Many of the tasks undertaken by virtual assistants tend to be somewhat tactical or repetitive, such as taking notes or submitting weekly or monthly expense reports. These tasks can take away from more pressing issues, such as client meetings or lead generation. When leaders delegate time-consuming tasks to virtual assistants, they can focus on the more important tasks on their agenda.

Greater work efficiency

Leaders aren’t the only ones that benefit— other team members may also have a lot on their plate and need either temporary or more regular assistance. Social media managers, for instance, are most effective when they can assign writing, research, or graphic design to assistants, allowing them to focus on editing and delivery.

A healthier, more flexible work environment

Remote work has the potential to transform the culture of your company. Letting your team members work from wherever they are can have a tremendous impact on employee wellness. Consider a pregnant mother needing some time away from the office or a digital native that prefers working on the go. Both of these employees can accomplish their work like anyone else, but the ability to work remotely may give them greater satisfaction as they more easily balance other demands or desires.

5 Ways A Virtual Assistant Can Help Grow Your Business

Data entry

Finance, accounting, and data firms rely on carefully organized information, whether it’s a balance sheet or the results of a large-scale study. While the act of data entry is relatively simple, it can be monotonous, particularly if your skills are better applied elsewhere. Having a dedicated virtual assistant to focus on data entry can free up your schedule while developing a more accurate means of data collection.

Customer service

According to Microsoft, 96% of consumers say customer service is an important factor in their choice of loyalty to a brand. Customer service, despite its necessity in modern business, continues to be a secondary priority for many organizations. As a result, potential leads and loyal customers risk having negative experiences that can significantly impact their brand loyalty and satisfaction. Having someone, even if a virtual assistant, facilitate these customer inquiries can have real impact on a company’s reputation.

Administrative tasks

Scheduling meetings, following up on email communications, maintaining records… these are tasks simple enough that they can be done by just about anyone. But to do them well, it’s worth hiring someone that specializes in this type of work. With fewer administrative tasks to keep up with, your team will have more time to focus on areas where they can add real value based on their distinctive skillsets.

Sales outreach

Sales are vital to the lifeblood of a business, but outreach and activity tracking processes are often major time investments. Many virtual assistants are trained to handle cold calling, email campaigns, and other logistical efforts. Since many of these tasks can be done over the phone or on a laptop, it can be the perfect job for a virtual assistant.

Social media management

Despite the widespread use of social media in today’s society, many business leaders still fail to see its value – often this is because it takes so much time to deliver truly engaging content, consistently. A virtual assistant dedicated to social media can make all the difference—ensuring your company maintains an online presence while creating a two-way channel for loyal customers.

How Much Does A Virtual Assistant Cost?

Virtual assistant fees can vary greatly depending on several factors, including type and frequency of work, level of professional experience, country of origin, and technical expertise needed. Below are sample rates for different types of virtual assistants.

Administrative Professional, Data Entry

Description: Proofreading, data entry, clerical work, research, Excel, etc.
Average Hourly Rate: $12 – 20
Average Monthly Fee (20 hrs/wk): $960 – 1,600
Average Monthly Fee (40 hrs/wk): $1,920 – 3,200

Marketing VA, Customer Service, Accounting Support

Description: Copywriting, budgets/accounting, marketing support, customer support, CRM software experience, email marketing, social media marketing; software like PowerPoint, Quickbooks, Salesforce, WordPress, etc.
Average Hourly Rate: $20 – 35+
Average Monthly Fee (20 hrs/wk): $1,600 – 2,800
Average Monthly Fee (40 hrs/wk): $3,200 – 5,600

Advanced VA, Consultant, Executive Assistant

Description: Business consulting, content management, project management, advanced IT/site management, web development, and server management
Average Hourly Rate: $38 – 50
Average Monthly Fee (20 hrs/wk): $3,040 – 4,000
Average Monthly Fee (40 hrs/wk): $6,080 – 8,000

Source: Upwork, freelancers in North America with over 1,000 hours and 90% success rate.

Where Can You Find A Virtual Assistant?

Now that you know why to get a virtual assistant and how much it might cost, it’s time to find one. Just like searching for any other new hire, you have to look in several places.

Upwork

With over 12 million freelancers around the world, Upwork has built a reputation as the largest freelance marketplace in the world. With that status, however, comes a few challenges. For one, Upwork has a notorious support system that fails to assist both freelancers and companies in the event of a contract breach. Companies on Upwork will also have to deal with a tricky algorithm that prioritizes high-paying jobs. Nevertheless, you won’t find a more substantial pool of talent to source your next virtual assistant. We recommend carefully reviewing their profile and work history before contracting a VA to work.

Fiverr

Based in Tel-Aviv, Fiverr is another freelance platform that has become a household name. Fiverr freelancers offer a host of services, including website design, translation, copywriting, SEO, data entry, and much more. The platform is frequently used by companies like Facebook, Google, MIT, Netflix, and PayPal. Unlike Upwork, Fiverr services are charged as flat fees, starting at $5 up to several thousand.

Social Media

You’d be surprised how many assistants you can find on LinkedIn. LinkedIn’s Profinder works similarly to Upwork or Fiverr: list the service that you want, hash out the details (one-time project or ongoing, deadlines), and receive up to five free offers from on-demand professionals. Social media groups on Facebook and LinkedIn are also effective ways to find virtual assistants with specific talents.

Virtual Assistant Agency

Working with an agency is one of the quickest, most efficient, and reliable means of connecting with a virtual assistant. Places like Zirtual and VA Networking offer easy access to countless skilled assistants and have even been featured on Entrepreneur, StartupNation, Inc., and Reader’s Digest. Many VA agencies also provide additional resources, training, and coaching for these freelancers, so they will likely be more prepared and better fits for the job than someone you may find elsewhere.

How To Hire & Manage A Virtual Assistant

Set expectations from the start

Always start with the scope of the project and the responsibilities expected of the virtual assistant. How much time should the project take? How will the VA be paid? What is considered in-scope, and what is a stretch goal? These are the types of questions you want to be asking yourself because it is very likely your virtual assistant will ask once hired. That’s why it’s crucial to provide clear guidelines and process documents such as an SOW (Scope of Work) to set the scope and responsibilities; this prevents any confusion and enhances the likelihood of success.

Define a daily schedule

Once all the contracts are signed, the next step is to define a consistent schedule for work or checking in. Because virtual assistants are not physically present in the office, it can be challenging to ensure they stay on task or communicate clearly. Speak with the virtual assistant about their availability, and find overlaps between your company schedule and their schedule. If they live overseas, you’ll also have to take the time difference into account.

Define a budget

One of the most compelling reasons to hire a virtual assistant is cost—virtual assistants are by far more affordable than full-time hires. But without a budget, you can easily spend more than you intend to. In setting up a project for a VA, create estimates for how long each task should take, and accordingly, how much each task will cost based on the VA’s rate. Be as upfront as possible about your budget, and you can avoid potential fallouts or disagreements regarding compensation.

Track time and tasks

Accountability is key when it comes to remote work. Nothing stops a virtual assistant from claiming to have worked on something when they haven’t, or conversely, spending hours on a project but not having it tracked. While self-tracking is based on a code of honor, it’s still an effective way to keep tabs on project completion and overall workload. Use project management apps like Mavenlink, Asana, or Basecamp to evaluate the overall progress and efficiency of your virtual assistants.

Provide useful performance feedback

To truly support and push your virtual assistants to improve, provide them with monthly or even quarterly reports; this can be as simple as a quick one-on-one conversation, but it is most important to address the greatest strengths and opportunities for improvement. Your virtual assistant will appreciate the honesty and repay the gesture through their efforts.

Virtual assistants are more than just remote workers. They can form the backbone of your business even as you work on other tasks. Their work may not always impact the bottom line directly. Still, their presence can be felt by everyone on the team, particularly when they can shift their focus from more repetitive tasks (such as social media or data entry) to other priorities. Give them the proper goals and guidance, and virtual assistants can genuinely transform the way your team operates.

7 Reasons Why Outsourcing Procurement Services is Exactly What Your Business Needs

If you’re in a product-based business, procurement is key to your success. It’d be tough to manufacture all your own parts and materials. In some cases, it might even be impossible. Either way, things run much more smoothly if you can work with other reliable companies to supply the parts and materials needed in your business. Finding those suppliers and working with them is the job of the procurement department.

Though procurement is vital for companies, coming up with an effective procurement solution can be a hassle. As your business grows and procurement becomes more complex, it can quickly turn into more work than you and your existing employees can manage in the time you have. One solution is to hire more people. However, that’s going to cost your company money as well as time to train new employees. It’s not necessarily going to solve all your problems, either. Procurement outsourcing services are an alternative solution that might be a great fit for your company.

Why Outsourcing Can Be Better Than Hiring

If you’re noticing issues in your procurement process, just having more people working there won’t automatically simplify the process or solve the problems you’re facing. If there are issues in your procurement process, then you’d need to overhaul your system as well as hire additional help.

One solution to problems in procurement is to automate the procurement process through a Software as a Service company. This can be a great choice if you want to keep your procurement in-house but outsource the process automation. However, that solution still means you’ll need people working in the procurement department. If you’d rather focus on doing something else instead of worrying about whether or not your procurement system is working, there’s another solution that might work better for you.

To avoid difficulties associated with in-house procurement, you can outsource your procurement solutions. Letting another company handle your procurement system might seem odd at first. You know what your company needs, and it isn’t unusual to want to stay in control of procuring the supplies essential to your business. But using procurement outsourcing companies to outsource procurement doesn’t necessarily mean you’re losing control. It also comes with quite a few benefits. Keep reading to discover seven reasons why outsourcing can be better than do-it-yourself procurement.

1) Choose Your Level of Control

When you’re looking at the possibility of outsourcing procurement, there are a couple of things to consider. The first option is that you can outsource all your procurement so that a third-party outsourcing company handles the purchases for you. With this option, you also get to decide whether to outsource all your purchases or to only outsource your non-core spend and keep more sensitive procurement in-house.

Another option is to outsource your procurement management system to an online Software as a Service program that is easy for your in-house staff to handle. Using online procurement software lets you retain more direct control over everyday purchasing. There are some great advantages to automating, but choosing this option means you miss out on some other advantages of outsourcing your procurement. With more direct control comes more time spent on procurement and more responsibility that falls on your employees.

If procurement is something you’d rather not have to worry about, then outsourcing is the way you’ll want to go. In this article, we’ll be focusing on the advantages of outsourcing your procurement. You can learn more about the benefits of procurement automation by clicking here.

2) Gain Procurement Expertise

The people working in your company are experts on the products you create and the services you provide. They might not be experts in procurement, though, especially if you’re trying to keep your expenses low. Maintaining a department that’s exclusively devoted to managing procurement just isn’t practical for every business. This is why outsourcing is an excellent idea.

Instead of trusting your procurement solutions to someone who’d be better suited for another job, you can turn them over to a real expert. Procurement outsourcing companies have the experience needed to give you the best possible procurement solutions. They also have the skills, resources, and knowledge to strategize more efficiently. All of this comes together to make your company’s procurements as successful as possible.

3) Lower Your Costs

You probably already know that managing procurement from within your organization can be expensive. In contrast, companies that specialize in creating procurement solutions face much smaller expenses. Instead of wasting money in-house, you could save by relying on a procurement outsourcing service provider with lower overhead costs. That lets you cut your own overhead.

In addition, you’ll also be saving money in more ways than just processing costs. Outsourcing procurement lowers costs because you won’t be devoting office space or IT resources to maintaining an in-house procurement system. You’re also cutting back in terms of headcount and training. You won’t have to hire anyone new to run procurement. You’ll also free up the employees already working on procurement so they can focus on other tasks.

Taken together, all these cutbacks lower your transaction cost per procurement. Even if the amount saved per procurement is small, it’s going to quickly add up to significant savings.

4) Return To Your Core Focus

Outsourcing means your procurement system will be handled by purchasing experts. By shifting those responsibilities, you’ll also enable the experts at your company to focus on their own specialties. They’ll no longer be distracted by tracking down the best suppliers, comparing costs, and generating purchase orders. They get to focus on value-added areas where they use their unique skills to the best advantage.

As a result of outsourcing, you’ll have more time to spend on providing better products and services to your customers. The procurement outsourcing company will take care of purchasing tasks essential to your business while freeing up your people to focus on delivering the best possible customer experience. Since you’re cutting back on costs, you’ll also get to enjoy increased profits while supplying better service.

5) Enjoy Greater Access

Procurement experts have access to supplier databases both international and local. This means that they can help you choose from among a far greater number of suppliers than you might find working on your own. They also have the contacts and market leverage necessary to make sure you always get the best deal on products you need for your business.

With this increased access, you will be able to ensure better quality and prices on all your procurements. You’ll have a whole team of procurement experts working for you, giving your company access to the best possible opportunities. And you’ll get all that without having to set up a separate procurement department inside your own company or hire additional employees.

6) Adapt To Change More Quickly

Being able to adapt to change quickly is a definite advantage in today’s business world. This is particularly true in the wake of the COVID-19 pandemic and ongoing supply chain issues. However, adapting is hard to do in procurement if you’re using a manual, in-house system. Setting up an agile procurement system using an automated software solution is one option. But this would still require your employees to spend quite a bit of time keeping on top of things.

Outsourcing will give you the advantages of agile procurement without the extra in-house work. Agile procurement responds quickly to supply chain disruptions and changing prices. It’s one of the big advantages you should be looking for when implementing a new procurement solution.

When you outsource procurement, you’re hiring a team to keep track of all these procurement concerns for your business. They’ll be on top of catching price reductions and doing their best to make sure you aren’t stuck without needed supplies if one of your suppliers runs out.

7) Streamline Productivity

When you outsource your procurement solution, all the advantages that we just talked about are going to help streamline your company’s productivity. Outsourcing lets your employees focus on using their strengths by skipping over dealing with purchasing. That helps streamline their workflow as well as company operations.

In addition, the expertise and adaptability of the procurement outsourcing company you hire allow for increased productivity and efficiency. Procurement experts can move things along more smoothly than most in-house departments could. They have a decided advantage in terms of access to information and expertise. In short, things are simply going to run more smoothly when you don’t have to worry about managing procurement.

Pros and Cons of Procurement Outsourcing Services

Though there are many great things about outsourcing procurement, there are also a few risks. For example, there may be legal or security risks if you accidentally partner with an unreliable supplier. You can avoid most potential downsides by choosing a reliable provider for procurement outsourcing.

It’s important to thoroughly vet the company you’re going to work with. Make sure you retain a reliable outsourcer that stands behind their procurement solutions and offers responsive customer service. You want someone who’s going to help you make sure your new procurement solution improves things for your company.

This is where errandables can help. We have a history of providing reliable business process outsourcing solutions. By outsourcing with us or using our procurement and purchase orders software, you’ll keep your data secure and streamline the procurement process. Our customer’s satisfaction and security are our highest concerns. We aim to make sure that when you choose to outsource your procurement solutions with us, it will mean increased success for your company. We’re with you every step of the way, making sure your procurement solution delivers all the benefits you’re looking for. Contact us today for more information on outsourcing your procurement!

Today’s busy professionals can rarely find enough time to do all their errands, and that’s where you come in, with a business able to check a few boxes off their to-do list. You could be a virtual assistant, start a courier or delivery service, remove junk, prepare meals or do personal shopping.

In this era of convenience, more and more people like to delegate their minor tasks, which means greater demand and real opportunity for the capable entrepreneur. Start down the road to success by checking out our list of excellent errand business ideas below.

1. Virtual Assistant

The job didn’t even exist 20 years ago, but now, thanks to new technologies and the sharp increase in remote work during the pandemic, the virtual assistant industry is booming. After years of strong growth, the market is expected to be worth more than $4 billion by 2025. That means now is a fantastic time to start your own virtual assistant business.

To be clear, we’re talking about a human, not a digital or AI-powered, assistant, who provides administrative, technical, and creative services to clients remotely, via the internet. If you have a strong business skillset, you can get started with a minimal investment and run the company out of your own home while serving clients anywhere in the world. You could also add more skills over time, increasing your revenue streams and the rates you’re able to charge.

With hard work and a bit of luck, you’ll soon be helping businesses run more smoothly and efficiently while making good money for yourself.

2. Cargo Van Delivery

Thanks to the increasing popularity of online shopping and the corresponding need for last-mile services, cargo van delivery offers great potential. The US retail e-commerce market is set to continue growing rapidly and exceed $1.3 trillion in value by 2025. If you have a cargo van, you can take advantage of this stellar market performance by starting your own cargo delivery business.

There are many ways to get going. Aside from a van, it would be wise to invest in the tools and equipment needed to secure your cargo as well as load or unload this safely. You’ll also need to comply with applicable laws as well as licensing and insurance requirements. Since you’ll be competing with established brands, it is important to differentiate your business. For example, you can offer several options like door-to-door delivery or same-day delivery services. With a lot of hard work and a good marketing strategy, you can deliver serious success!

3. Errand Running

Busy executives and older adults who find it hard to move about will likely be your top clients if you start an errand running business. Just focusing on the older population provides the errand services industry a huge potential customer base. More than 50 million Americans are age 65 and older, and that number is rising fast.

So what does an errand runner do? You take or pick up clothes from the cleaners, fill the car with gas, pick up a prescription, and get groceries. You might want to focus on a few services and develop your own niche, or do whatever your client asks you to do. It will be a matter of time management and you will have the flexibility to set your own schedule. You will need to research the market, though, and find out the prevailing rates. Most errand runners charge by the hour instead of by task.

4. Senior Transportation