Virtual Pro vs Employee
There are a ton of reasons why it makes sense to partner with a Virtual Professional rather than taking on a full time employee, but topping the list for most business owners is cost savings.
Here is a simple example based on hiring a virtual assistant to look after basic administrative tasks for you:
| COST – Administrative Services | Full Time Employee (40hrs/wk) | Virtual Assistant |
| Hourly Rate of Pay | $15.00 | $60.00 |
| Perks @ 35% (Health, Dental, Life Insurance, RSPs, Bonuses, Paid Sick Days, etc.) | $ 5.25 | $ 0.00 |
| Employer Overhead @ 50% (Unemployment, Pension, Office Space, Office Equipment & Supplies, Training, Vacation, Overtime, Administrative Costs etc.) | $ 7.50 | $ 0.00 |
| TOTAL EFFECTIVE RATE OF PAY | $27.75 | $60.00 |
| ** Hours per year | 2080 | 480 |
| TOTAL ANNUAL LABOR COST | $57,720 ++ | $28,800 |
(**Virtual Assistants are skilled professionals who dedicate focused hours to your tasks. In general they are able to accomplish the same functions as an employee in a shorter period of time, and you are no longer paying for lunch & coffee breaks, office socializing time, smoking/restroom breaks, or other non-productive time associated with having payrolled staff. As a result, you pay only for hours worked to complete your tasks.)
As you can see the cost savings is considerable. Though an online professional’s base rate for virtual administrative services is higher than that of an employee, they perform the same functions in a condensed time frame because they have dedicated that time to your business and you pay only for time on task.
If that is not enough…
Virtual Assistants and Online Business Managers can help your business reach new heights by saving you TIME (priceless!), as well as money!
You will spend less time on training and overseeing.
Virtual Professionals are experienced & skilled already. They don’t need managing, just direction on your desired goals, visions, and outcome for a task.
~ MORE TIME for income producing activities
~ MORE TIME for marketing
~ MORE TIME for more clients
~ MORE TIME to develop new products & services
~ MORE TIME for client follow-up and retention
~ MORE TIME for YOURSELF!
Virtual Assistant vs Virtual Business Manager
You may be puzzled by some of the terms that you come across in your search for the perfect virtual support professional. There are basically two different levels of virtual assistance falling under a number of different names. Let’s sort it out…
| NAME | ROLE | HIRE ONE WHEN… |
| Virtual Assistant, Online Assistant, Online Support Specialist, Virtual Administrative Assistant, VA | The focus is on “doing”. Normally hired to perform specific tasks (i.e. customer service, shopping cart maintenance etc) or complete specific projects (i.e. setup a blog, or create a member area). Responsible for their own tasks being completed and delivered on time. | You are in the start-up, or early stages of your business. You need help to set up websites, shopping carts, and perform administrative functions & tasks, and this support is normally required on an ongoing basis as the business grows. |
| Online Business Manager, Virtual Business Manager, Virtual Team Coordinator, Online Project Manager, OBM, VBM, OMP | Focus is on “management”. Keep an eye on the big picture & coordinate and oversee all of the pieces (projects, team members, operations, expenses, etc). Responsible for making sure everyone’s tasks and projects are being completed and delivered on time and that systems run smoothly and efficiently. | You are “tapped-out”. You have grown your business as far as you possibly can as the only one in charge. You can no longer manage the day-to-day activities and still have time for growth activities. You are working too much IN your business and not working ON it. You have reached an income ceiling and are working too many hours just “maintaining the status quo”. |
**Excerpted with thanks from Online Business Managers & Virtual Assistants: A Comparison Chart by Tina Forsyth at Online Business Manager.com
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