I’m sure you’re thinking that there’s a mistake in the title. How can a business owner possibly take a day off every week and continue to grow their business – and to top it off, while the economy is struggling? This is not a riddle. Let’s start explaining with some facts.
Small businesses spend about one-third of the year on admin tasks
Research from enterprise software company Unit4 (https://www.hrmagazine.co.uk/article-details/administration-taking-up-a-third-of-working-year) found that office workers in the UK spend roughly one-third of their working year on administrative or repetitive tasks. Closer to home, a 2017 survey which included South Africa found that small businesses spend up to 240 days per year working on admin tasks.
With the above information in mind, would it be safe to assume that business admin is holding small business owners back from growing their business? If they could actually spend that time on marketing and networking opportunities to put them in touch with their ideal customers, how would that impact their business growth, and ultimately their revenue?
Grab your calculator and let’s do a little math:
52 weeks x 5 working days = 260 working days a year.
Divide 260 by 3. That totals just over 86 working days a year spent on admin (based on the one-third statistic). Divide 86 by 12 months, and you’re left with about seven days a month spent on business admin.
Keeping these statistics and calculations in mind, why would any savvy business owner even think about employing a full-time admin person, if they have to pay a salary for someone to only work seven days a month? That does not make any financial sense.
Every potential problem has a solution
What does make sense for a business owner, is to outsource their business admin to a Virtual Assistant (or VA).Wikipedia provides a short explanation of what a VA is: “A virtual assistant (typically abbreviated to VA, also called a virtual office assistant) is generally self-employed and provides professional administrative, technical, or creative (social) assistance to clients remotely from a home office. Because virtual assistants are independent contractors rather than employees, clients are not responsible for any employee-related taxes, insurance or benefits, except in the context that those indirect expenses are included in the VA’s fees. Clients also avoid the logistical problem of providing extra office space, equipment or supplies. Clients pay for 100% productive work, and can work with Virtual Assistants, individually, or in multi-VA firms to meet their exact needs. Virtual Assistants usually work for other small businesses, but can also support busy executives.”
Jack of all trades, master of…
As business owners cannot possibly know everything about everything and stay on top of the latest developments, it makes time and money sense to outsource mundane tasks that fall outside their area of expertise to someone with the right experience to support their business.
In our next blog, we will take a look at common tasks that can be outsourced to a Virtual Assistant.