'Virtual Assistants' in Higher Demand

Down Economy and Need to Cut Costs Have Employers Turning to Telecommuters
By Emma L. Carew
Washington Post Staff Writer
Wednesday, July 8, 2009

Michael Hanik used to have 12 employees, a warehouse and trucks to run his medical devices catalogue company. But four years ago, he turned to the Internet to look for ways to reduce overhead costs for his Rockville-based Total Medical Systems. He now has just three employees on the company payroll but as many as 50 contractors working for him, some of them known as "virtual assistants."

The term, around since the Internet became widely available, encompasses anyone who telecommutes and does administrative tasks for other businesses, usually on a contractual basis. Most do tasks such as document preparation, paperwork and accounting. Some have niche areas, such as bilingual translation or creative services.

In the current economy, Jane Weizmann, a senior consultant at Arlington-based human resources consultant Watson Wyatt, said she's seeing more businesses with a "part-time cadre or network of people" who telecommute and bring different skill sets to projects as needed. "It's a lot less expensive than having resources on staff, sitting on the bench and waiting," she said.

Virtual assistants allow companies to save on real estate and equipment, as well as on benefits, which can add 35 percent to a base salary, Weizmann said. She cautioned, however, against businesses relying entirely on outsourced work and contractors. The high levels of turnover can create an unstable workforce. "You can supplement your core capability, but you can't replace it completely with 100 percent outsourced work," she said.

The numbers are difficult to track, because there is no formal certification and not all people doing similar work call themselves virtual assistants, but one small trade group, the International Virtual Assistants Association, said its number of new members doubled from 2007 to 2008. To date this year, IVAA has added 160 new members, bringing membership to about 900. With no warehouse space to rent, no salaries or health benefits to pay, and no supply cabinets to keep stocked, Hanik estimates he's decreased his business costs by 65 percent through outsourcing and using virtual assistants. "It's a tremendous revolution," he said.

IVAA officials say the number of virtual assistants is increasing as companies lay off their administrative and executive assistants. Plus, the barrier to entry is low, because most people already own the equipment they need, such as computers, printers, fax machines and Internet access. "You meet people at the conferences who say, 'Oh, after I was laid off four times, I decided to become a virtual assistant,' " said Lauren Hidden, marketing director for IVAA. "They get tired of the insecurity of being an employee." Even though the real estate agency that Pharice Brown used to work for laid her off, it still needed someone to complete her old tasks. That started her career as a virtual assistant and president of Bladensburg-based Pharice Brown and Associates. "Even though the Realtor wasn't able to pay me the salary, he actually helped me get my start," she said. She said many of their customers are small, independently owned businesses that found her online or through recommendations. Brown now makes less than half her former $50,000-per-year salary and has cut back on spending so she can afford paper, printer ink and software. She has been without health insurance for nearly a year. "I carried my own insurance until I just couldn't afford it anymore," she said. Brown said she loves the flexibility of the work and being her own boss, but money is tight, and when there are bills to be paid, she'll occasionally work below her normal fees just to get paid.

Rosa Pichardo, who runs a virtual assistant business in Silver Spring, said part of her success through the recession has been her niche: working with Spanish-speaking business owners, largely translating documents. Pichardo, who was a travel agent in her native Dominican Republic, said that when she started up Rossie's Enterprises in 2004, it was hard to find customers. But now the business has grown to include Pichardo, her son and another employee.

Starting your own business can be difficult, IVAA officials caution. "Some people join and never really get off the ground," Hidden said. Salaries can vary based on qualifications, what people charge and how frequently they work. Hourly wages may range from $20 to $75. Brown said she has coped by starting other businesses. Right now, demand for her interior design firm is low because people are not redecorating their homes, but the demand for the résumé-writing services of her virtual assistant business has increased. Catalogue-company owner Hanik found Kim Lazernik, a former computer software tester, on Craigslist. When Lazernik was laid off in 2007, she formed Silver Spring-based Virtual Computer Services and put her skills to work on projects for small businesses, such as photo scanning and data entry. Lazernik has definitely taken a pay cut since starting her own firm. (Her old job paid more than $100,000 a year.) She now works about 20 hours per week, charging $35 to $40 per hour. But, she says her expenses for the business balance out with the money she saves on commuting and career clothing. Like Brown, she currently does not make enough to be saving for retirement. "I love what I do. I wake up happy every morning," she said, but added, "I'm thankful for the years I had a 401(k)." At 49 years old, Lazernik said the career change is permanent. "There's no reason for me to stop doing this."

New Variety of Services Starting This Month

administrative partners, llc has enhanced their services to better meet the needs of small business owners. Please refer to the list attached for new services we are offering starting this month.

Project Management
Do you have multiple incomplete projects- just waiting for your attention? To distracted to see a project through to the end? Having a designated owner of your projects and task makes all the difference. A project manager manages resources, time, money and scope of projects. administrative partners, llc keeps your projects moving while you focus your time and energy on thing that only they can do.

This service includes:
-o- Responsible for a projects from start to finish
-o- Leads teams in negotiating multiple relationships within any project
-o- Functions as the “hub” of the project
-o- Maintain a healthy client relationship throughout project
-o- People Management: Find, Hire and Manage Virtual Teams

Administrative/Productivity Consulting
Work more efficiently. Revaluate methods that are not working so that you can continue to grow your business.

This service includes:
-o- Productivity analysis
-o- Recommendations for productivity
-o- Streamline and simplify systems and processes
-o- Maintain accurate reports of the business metrics – helps business owners make informed decisions about their business
-o- Implementing and managing new revenue streams

Getting Started Package*
(6 month trajectory)

The Getting Started Package assists small business owners in realizing their vision of owning their own business. The package coordinates the start up activities that need to occur. These services include:
-o- Registration of Company Name
-o- Research and secure domain name registration
-o- Business Plan Consulting
-o- Marketing Strategy
-o- Pricing Strategy
-o- Logo Design
-o- Business Card Design
-o- Letterhead Design
-o- Website design
-o- Marketing brochure

Next Level Business Package
(6 month trajectory)

The Growing Your Business Package is designed for the business owner who has been in business for a while and who is looking to streamline their business.
-o- Includes our Productivity Consulting service (3 months)
-o- SEO Management
-o- SEO Reports and Analysis
-o- Website Optimization
-o- Link Building Website Promotion
-o- Virtual Assistant services (10hrs/mo)
-o- Internet Marketing
-o- Upload a Video
-o- Set-up and maintain social networking profiles
-o- Website maintenance
-o- Autoresponders
-o- 1Shopping Cart set up
-o- Newsletter template design (print or online)

Specialized Services

-o- Order entry
-o- Order tracking and follow up
-o- Marketing campaigns
-o- Billing and invoicing
-o- Manage Company Store capabilities


Transaction Coordination
-o- Keeping tasks on schedule
-o- Tracking contingencies
-o- Listing Presentations
-o- Buyer Consultations
-o- Manage Drip Campaigns
-o- Design and mailing of postcards
-o- Management of farming areas
-o- Website updates
-o- Special Projects as needed

Updating Business Plan

This first year of business has been outstanding for administrative partners. We've gained a book of diverse and dynamic clients and have cultivated and grown many strategic partnerships. Now its time revamp... just a little bit. This year has helped us understand our strengths, passions and we will continue to provide the same types of services, but on an even deeper level.

So... I have to update my business plan ALREADY.

I say this to say that many times you don't know where your business is going to end up. You may start with one vision, only to find that you can achieve much greater success than you first imagined. Along the way it is important to update your business plan. When you start a new path or level of service - update your business plan.

Your business plan is your pathway to success. Not to say that you can't deviate from it at all, but its primary goal is to keep you focuses on growing your business.

As we update, in some areas re-write the business plan for administrative partners, looked forward to a more in-depth level of service for our exisiting clients and an more valuable position in taking care of our new target markets.

Trying to Decide What Email Marketing Service to Use?

This wonderful resource was shared with me by another virtual assistant.

With so many options out there, sometimes its hard to know which product would best meet the needs of your business. Attached is a link to an email marketing comparison chart. I found it helpful in just checking if I was using the right product for my business. I hope you will find it helpful as well.

http://email-marketing-service-review.toptenreviews.com/

As the Business Turns...

Is your business always evolving? When was the last time you looked at your business plan? Is it totally different now? Did you think you want to offer a specific service only to find out that it isn’t quite where you want to end up.

As business owners we may often find ourselves in that state of mind. This isn’t all bad because typically that innovative thinking and ability to create is what made us small business owners to begin with.

I believe I’m experiencing a metamorphosis of my business. Being an executive assistant is what I know, but acting more as productivity, efficiency consultant for my clients is what I enjoy more. Thinking about those years of basically running the operations for Vice Presidents for many years, I’m finding that the more in depth avenues of business is what I enjoy – perhaps that’s why I got a business degree – go figure. I enjoy helping them brainstorm for a new marketing tag lines, helping them put together a request for proposal, apply for government certifications and just basically anything that will improve the operations of their business, while they continue working on it.

Because of that I’m looking deeper into online business management services for my new, existing and future clients, who want to go beyond what they are doing but don’t have the time to give to doing to. I’m looking forward to sharing more about these plans in the next month or two.. in the meantime, I guess I had better update my business plan.

Meet administrative partners, llc's Newest Client

Doris E. McMillon is the President and Chief Strategist Officer for McMillon Communications, Inc., a full-service communications and marketing firm specializing in strategic positioning, branding and effective communications. Ms. McMillon has co-anchored and reported in prime-time news hour slots including tenure at Metromedia/Fox New York flagship station, WNTW-TV, where she went undercover as a welfare recipient for the hard-hitting, Emmy Award winning series, The Welfare Rip-off. For more information, please visit her website at www.mcmilloncommunications.com.

administrative partners, llc will be assisting McMillon Communications prepare for a request for proposal as well as all administrative tasks that will assist Ms. McMillon in growing her business.

We are happy to welcome Ms. McMillon into the administrative partner’s family.

Business Proposals

What should go into a business proposal?

There are some things that tend to be similar across business proposals. These are tendencies and not rules. The only time there are rules is when the customer issues a Request for Proposals (RFP). An RFP, if it has sufficient detail, will tell you what should go into your proposal and how it should be presented. Sometimes, the nature of a product or service being offered or industry practices provide some guidelines for proposal composition and/or layout.

A typical business proposal might include:

* An Executive Summary introducing your company, what you will do or provide to the customer, and how the customer will benefit from what you propose.
* A statement of work or technical approach describing what you will do or provide to the customer. An implementation schedule and description of deliverables is usually included. If products are being proposed, then product descriptions are usually provided (the amount of detail depends on the customer’s requirements).
* A management plan describing how you will organize and supervise any work to be performed. A schedule of major milestones and allocation of resources may be provided.
* Corporate qualifications that describe your capability to do or provide what you are proposing. Relevant prior experience is usually highlighted.
* A Staffing Plan that describes how the project will be staffed is sometimes on large service contracts. If particular people are important to the approach, their resumes are usually provided.
* Contracts and Pricing. If the proposal is being used to close a business deal, then business and contractual terms are usually provided.

Some RFPs will set a page limit on the proposal. Some don’t. Some RFPs will tell you the format/layout to use, and some won’t. Some RFPs will tell you what evaluation criteria and process the customer will follow. And some won’t. The customer sets the standards and defines the rules.

If your proposal is going to be submitted to a Government agency, then the composition and layout of the proposal may have regulatory requirements to comply with. In the case of the Federal Government, these are usually based on the Federal Acquisition Regulation (FAR).

(Taken from www.captureplanning.com)

Fostering and Effective Relationship with Your Virtual Assistant

Celine Rogue wrote an article that I totally agree with called The Art of Delegating Tasks to a Virtual Assistant. This article laid out good information on how to work with a virtual assistant for the most effective working relationship.

A few simple/basic tips that might come in handy are:

B.0Be specific about your expectations. This will save both you and your virtual assistant time. She/He will not have to try and decipher what you mean by your instructions and then go back and forth via email or other medium for clarification. Expectations should address the timeframe of completion or check in as well as any information necessary that you might have in order to complete the task in a timely manner.

Partner for Growth.You will see the best result of your relationship if you partner for growth – not just a task here or there, but trust assistant to actually work with you on the nuances of administrative issues that will help you become more effective

Give it time to work. With every new relationship there are often growing pains. Work with an assistant for at least a few months to work through some of the growing pains. Many of those issues may be due to a lack of effective communication, which can be tweaked over time. Make sure to check in every other week or so, to determine how the relationship can be improved over time.

Sign up with an administrative partner today. Watch your business soar.

Managing Multiple Clients and Projects

Managing multiple projects for multiple clients can be a little daunting for new or even experienced solo and small business professionals. Without a system for keeping track of deadlines, client feedback, and team activity, you might quickly find yourself on the other end of an angry phone call with an unhappy client.

Here are three tips to help you work more effectively with multiple client projects:

Communicate More Efficiently
Clients are like everybody else, they get stressed and uncomfortable when they don’t hear from you. But they don’t want to hear from you just because of your charming wit and soothing voice, they want to know the status of their important projects!

A weekly status call or email might be sufficient when you have just a couple of low-key clients. However, when your client and project load increases, you could quickly find yourself spending precious hours on the phone just to provide status updates.

One easy solution is to keep task information online so that clients can login at their convenience (even at 3am) to find out the latest status of their tasks, and even more detailed information (optionally) like time tracking information or how much retainer time they have remaining.

Keep Files and Comments in One Place
Another simple way to keep things organized is to gently move your clients towards accessing files and giving feedback in a central location. Online project management software can help your clients easily upload or download project documents that you’re collaborating on, as well as make comments on a specific project or file without sending dozens of emails back and forth.

The key advantages of this approach is that your responses won’t get lost or misplaced - you’ll have a clear, coherent record of your project conversations. You’ll also be able to reference the latest version of your files in a consistent way.

This winds up saving lots of time that might otherwise be spent with a client providing feedback about the wrong version of a file, or missing your response to a query.

Track Deadlines Proactively
Even with the above measures in place, you still need to keep an eye on the dates you’ve committed to clients. At a minimum, you can adopt a simple system to prompt you about upcoming deadlines, and also to update clients if you are unable to meet those due dates.

One way of doing this is to keep a project or task calendar for each client that shows each upcoming deadline. You can refer to this calendar once a week or more frequently as needed to make sure you’re clear on client commitments. If you have a team, you can also add their commitments for more timely followup.

If you are using an online project management service like ClientSpot, you can also have the system remind you and your team of upcoming deadlines by email a couple of days before the fact. You can also monitor the status of tasks across all projects, clients and team members, or check just the work assigned to a specific person.

By staying on top of deadlines, you can also pro-actively notify your clients if things start to slip. Most clients will not only be understanding of an occasional delay, but will appreciate the early notice so that they can adjust. Not that you want to make a habit of missed deadlines, but at least by monitoring them carefully, you can still provide excellent customer service by informing clients early and giving them options to reschedule work.

These tips were written by Client Spot. No doubt they want you to use their service, but I think the overall message is the same. In order to provide a better more efficient process of tracking projects and keeping clients in the loop, there has to to be some type of system in place and an online project management tool, such as Client Spot or Basecamp can do wonders for your productivity.

Happy Holidays!!

Remember to take time out to share with family and friends the Holiday season. Happy holidays and I look forward to working with all business owners looking to grow their businesses in the coming year.

Outsourcing for Small Business

The phone’s ringing off the hook, employees are working overtime to handle the overload, and your website is buzzing with activity. These are all “good” problems we wish for, but are you ready if they become a reality? Today’s business happens at warp speed, and efficiency is a key hallmark of success. One way to gain efficiency is to focus your energy on the things that are of core value to your business. Keep those activities in-house, and put your non-core functions on the hot seat – even small business outsourcing is a reality in today’s business environment.

To make outsourcing work for your business, try the following:

Analyze your expertise

Take a look at the value you offer your customers and where you focus your efforts. Are you spending too much time on areas that are outside of your expertise? Many times, it is more cost-effective to have someone outside of the company take care of these non-core activities. Research various service providers and ask for referrals so you can start outsourcing functions such as logistics, accounting, IT services, payroll, public relations, and more.

"A small business owner should evaluate outsourcing just as any other business decision,” states Walter Turek, senior vice president, sales and marketing for Paychex, a national provider of payroll, human resource and benefits outsourcing solutions. “Criteria should include:expertise in performing the function, confidence in the service provider, return on time invested, risk versus reward, and peace of mind consideration."

Outsourced but not out of mind

Once you find an outsourcing vendor, be sure to keep your eye on the ball! Since you can’t just walk down the hall to oversee the quality and timeliness of outsourced work, continue to tightly manage whatever functions you outsource. Arrange for regular reporting to ensure accountability and effectiveness.

Move “fixed costs” to “variable costs”

Some functions in your business require only part-time work. An example might be bookkeeping. If your needs add up to only four days a week in bookkeeping work, then consider outsourcing. That will allow you to move the burden of “fixed” costs (in this case, a full-time salary) to the “variable” side (an outsourced vendor). In essence, you pay for the outsourced functions only when you need them.

Jump on opportunities from downsizers

Be aware that the rigors of this economy are forcing big business to shed non-core functions. After all, corporations must find ways to maximize profitability, which they do in part by reducing their expenses. Just as in small businesses, outsourcing allows big companies to move fixed costs to the variable column. Like you, they pay for the outsourced functions only when they need them. From a business development perspective, this may represent a trove of opportunity for you. You can develop an entire business model centered on providing services that used to be in-house at large companies.

Our Bottom Line

The primary message here is that outsourcing is here to stay and it should be something you entertain for your business. Concentrate on the key aspects of your small business, where customers find value, and outsource other business functions to outside experts. If you monitor vendors carefully and focus on efficiency, you’ll be positioned for rapid growth and success.

http://www.startupnation.com/articles/1276/1/small-business-outsourcing.asp

Taking a Break Can Help Grow Your Business

One of the strategies of business growth highlighted on the popular website startupnation.com, suggested that a business growth strategy was “taking a break”. With the holidays just around the corner, this might just be the encouragement you need to take a break and spend time with your family and plan for the coming year’s business opportunities.

The article mentioned that there is too much of a good thing. The same things that give you a mental buzz can also stress you out if you don’t take a breath and relax now and then. This will also ensure that you don’t’ lose the fun factor in your work or the passion for what you do. This is why mental time outs are an important part of business.

This mental break may not come in the form of a physical vacation, but perhaps just taking a few minutes away for the madness during the day to take a walk around the block. You must give yourself permission to stop. Some ways to deal with this mentioned were:

1. 1. Keep a time log. This will help you keep track of the time you wasted and you can use this time to do something that will help you relax.

2. Plan for each activity. Pad extra time around meetings and task to account for time-killers such as traffic.

3.3. Evaluate the quality of your clients. Only do business with clients who don’t take advantage of you, who pay you on time and who are pleasant.

www.startupnation.com

Consider Employment Agreement for Your Stars

One of the main issues that I hear from some of my clients is the concern that an employee will run away with their clients and become competition. A recent article in the Washington Business Journal addressed this concerned, stating that the critical assets for success are the key people, their confidential information and their goodwill. Losing any of these and your bottom line will be affected.

One way to prevent this is by addressing these issues in a “well crafted employment agreement”. It can prevent employees from unfairly competing or from misappropriating confidential information upon their departure. Employee agreements can include restrictions on taking or using confidential information or “trade secrets”. This can include anything from price lists to marketing strategies.

Non compete agreements generally prohibit or limit employees from engaging in unfair competitive practices, such as soliciting customers or using sensitive information gained from their previous employment. Restrictions on contacting customers who are current customers of the business or who were customers during a recent time frame are generally also included.

Remember for an employment agreement to be most effective, it must be tailed to the specific needs of the particular business. For example, non-compete clauses must be clear and unambiguous and should specifically state what types of conduct are prohibited. They should include a specific geographic scope and duration.

Taken from the Washington Business Journal – Edward Sharkey

Virtual Assistants in the News - Entrepreneur.com

Virtual Help for Real Entrepreneurs
Learn the many roles a virtual staff can fill to help grow your business. By Pattie Simone | October 14, 2008

If you're like most entrepreneurs, you've got piles of paper cluttering your office and to-do lists that seem to be multiplying like rabbits. The good news is that many of the tasks that keep you from being as productive (and profitable) as you could be can be outsourced. You may not think you can afford to hire help, especially in these economically turbulent times. But the fact is you can't afford not to.

Today's Profit Formula
The internet lets you access scads of talented folks with a click of your mouse. And while some tasks, such as filing or greeting clients, might require on-site work, many administrative, marketing and sales functions can be handily accomplished using the services of one or more Virtual Assistants (VAs).

Having a VA frees you up to do what you do best. The smart profit formula for lots of successful entrepreneurs (whether they're a firm of one or many) involves a little front-end investment for maximum returns.

For example, Danny Bradbury, a Canadian freelance writer with clients in his home country, the UK and the Middle East, has seen his workload decrease by 25 percent and business increase 30 percent since using a VA for administrative tasks, such as scheduling interviews, transcribing interviews, tracking down contacts, doing back research and registering him for webinars. Sounds like a darn good deal, right?

Three More Takes Regarding VA's
Laurie Macomber, president of Colo.-based Blue Skies Marketing, an SEO company serving clients across the country, uses a team of virtual workers from different areas (including Canada) to handle diverse functions. Her VA, Melissa Silva, [works] out of her Georgia home. She accomplishes an impressive list of tasks for Macomber, including:

• Team management and communications
• Scheduling and tracking jobs
• Setting up virtual password protected communications and file sharing system
• Sending presents to clients for referrals, writing and sending out handwritten thank you notes
• Research

Proofreading and "prettying up" documents
According the Macomber, aka the Google Guru, along with the benefit of having time to run her business, she loves that she doesn't have to deal with any personnel or HR issues typically associated with a part-time or full-time employee.

"At first I thought it was outrageous when I discovered the cost would range from $30 to $35 an hour, but their hour is so efficient," Macomber says. "Their 15 minutes is another person's hour."

Michael Katz, chief penguin of Blue Penguin Development, an electronic newsletter relationship marketing firm in Massachusetts) concurs. He went back to work with a VA after a three-month stint with a less productive employee. His L.A.-based VA, who works for Ohio-based Coaches Marketing Source, handles behind-the-scenes tasks that include the mail server and shopping cart, as well as projects related to spell checking and what Katz calls "important detail work."

Katz found his VA through a friend's recommendation. Katz says his VA experience has been purely positive. "She allows me to be more effective. I know that there's a direct connection between the increased income I see coming in," Katz says, adding it covers the expense of paying his VA.

Kim Beasley is the owner and senior developer of several businesses, including CustomizeWordPress and Agape3 Business Services, a five-year-old web design and business consulting firm in St. Louis. She has clients all over the world, including Australia and Canada, due in no small part to her team of VAs. Unlike Katz, who prefers to utilize his VA for back-end tasks, Beasley assembled a VA team of professionals with specific skill sets that directly handle many of the services she offers. Her three VAs take care of graphic design, content management, audio and video editing, as well as a range of internal administrative work like managing Beasley's calendar, scheduling webinars and training, putting networking information on Facebook, etc.

"I believe in using the strengths of my VAs, and those things I feel I can outsource, I do," Beasley says.

Because of the web and the various business-related portals and programs (such as Basecamp, GotoMeeting, Twitter
and Facebook) these entrepreneurs can do everything a traditional brick-and-mortar does, and more; including client prospecting, account management, selling products and providing services. Effective VAs are worth their weight in gold.

Turning Your Office into a Green Place to Work

According to the Environmental Protection Agency, a typical business office employee generates 1.5 pounds of waste paper every day. With the emphasis on "going green" it is more important than ever to adopt a "paperless office". Here are ten steps to reduce your impact on the environment

• Use both sides.
  
  • Make double sided copies, which will cut consumption in half.
    
• New life for old paper. Use shredded paper to pack materials.
  
  • Use sides of paper that have not been used for draft paper.
    
• Don't have a nervous breakdown.
  
  • Breakdown boxes and reuse them for sending packages back out.
    
• Choose the draft.
  
  • Print in "draft" mode. It saves ink.
    
• Go black and white.
  
  • Save ink and print in black and white as often as possible.
    
• Donate outdated computers and supplies to schools or nonprofit organizations.
  
• Buy refillable ink cartridges and recycled toner. Consider trying some papers made with recycled products such as hemp, bamboo or organic cotton.
  
• Build virtual filing cabinets.
  
  • Don't distribute paper. Encourage emailing and organized digital filing.
    
• PDF
  
  • Put handbooks and manuals online.
    
• Power down.
  
  • Turn your computer off at the end of the day and on weekends. You can save as much as 50% of energy use.
    

    
    

Inspired by Smart Business Ideas Magazine, July 2008

10 Tasks a Virtual Assistant Can Do That Would Make Your Life Easier

1. Check phone messages
2. Check emails
3. Follow up - on phone messages and emails
4. Prepare Newsletter (either online or print)
5. Manage your contact list (keeping it current/accurate)
6. Introduce you to products in the marketplace to help you run your business more effectively.
7. Manage calendar/appointments
8. Research opportunities for you to showcase your business.
9. Customer invoicing
10. Prepare marketing and advertising.

These rules are not set in stone, but rather just an example of how a Virtual Assistant can give the busy business owner time back so that they can focus on growing the business.

10 Mistakes We Make at Networking Events

For most small business owners/entrepreneurs we realize that we must network and in order to continue to build our network which will grow our businesses. Admittedly, at times it is difficult to find the time to do just that. But whats worse is, when we finally make the time to go to a “networking event” we don’t take full advantage of the experience.

Recently I went to one such event, the Bowie Business Start-up and Support Meetup (http://www.entrepreneur.meetup.com/). At the May meeting, we talked about the 10 mistakes individuals make at networking events. This was presented by Glenn Garnes, a relationship guru.

1. We go, but we don’t know why we are there. Really think about what your purpose is when going to a networking affair. The real purpose should be to be a good listener and get to know people well enough to access whether they are worth the follow up.

2. We hang out with people that we already know. It should be obvious as to why this is a mistake. You can’t expect to extend your network if you just socialize/communicate with in the one your already have.

3. We talk too much about ourselves. Okay, sometimes this is a normal reaction because we practiced our elevator speeches and we really do want to use them or we are the one subject that we know best. But we have to careful of this. When we speak to others we should be asking good questions and again, being a good listener.

4. When we do talk about ourselves we don’t describe it in a way that’s meaningful to people. We need to always highlight how the end client benefits. For example, as a virtual assistant I give time back to the busy business owner by taking care of the administrative tasks that are necessary to keep a business growing.

5. We don’t have an effective follow up system. No one is saying you have to go out and by fancy computerized systems – even though it is an effective option – but some sort of follow- up process must be in place in order to reconnect with people and in turn grow your business.

6. We don’t take the time to meet the “center of influence” or the person who is hosting the event. What Mr. Garnes said was that, we should always want to meet the host because they know enough to get all of these people in a room; wouldn’t we want to be in that network.

7. We aren’t good matchmakers. Be a connector. If you met someone on one side of the room that fills a need or provides a service that someone you met earlier can benefit from, take them to meet each other.

8. We show up to be seen. It most effectively to actively participate in the event; show up on time and stay until the end.

9. We don’t ask the right questions. The right questions are ones that will keep the conversation going. I’ll admit this was/is a fear of mine during networking events. However, I found the book Endless Referrals by Bob Burg, and invaluable resource in preparing me to actively participate in these events.

10. We don’t go to enough networking events. We should make a commitment to do at least 1 per month and then increase it.

Next topic: Top 10 tasks a VA can do to make your life easier.

Surviving a Recession With a Virtual Assistant

Through the various media outlets, and more importantly, via our bottom lines, we find mounting concern about the economy and see the affects of a recession. In fact, according to a January 27, 2008 article entitled, Small Business Planning for Slump written by Jim Wyss of the Miami Herald.com; "Among a dozen small business owners interviewed last week, most said they expect things to get worse before they get better -- and many doubted the new economic stimulus package, which includes rebates for consumers and tax breaks on business expenses, will do much for their bottom line." Then what will help small businesses in this economic slump? How can small business take on this challenge when every indicator says that they should be saving money rather than spending it?

One such way is to outsource administrative responsibilities to a Virtual Assistant. Virtual Assistants are independent entrepreneurs who provide creative long-term collaborative and professional administrative support to their clients. Virtual Assistants are paid only for the time spent on tasks and utilize time-tracking software that records such information. Therefore, a client is not charged for downtime, breaks or distractions that may occur during the day.

You may be thinking, "This sounds good, but what about the costs?" Well, if you compare the compensation rate of a highly skilled Virtual Assistant to how much it would cost you to hire a full time staffer, or even a temp; paying taxes, benefits and other associated expenses, you will immediately see the cost savings.

Click here for a cost comparision of employees versus Virtual Assistants.

Independent Contractor vs. Employee

The IRS has recently started an initiative to educate new small business owners on their federal tax responsibilities. One area in which new small businesses can get caught up is when advancing to the point where they need add additional “hands in the pot”. According to the IRS, “it is critical that you, the employer, correctly determine whether the individuals providing services are employees or independent contractors. Generally, you must withhold income taxes, withhold and pay Social Security and Medicare taxes, and pay unemployment tax on wages paid to an employee. You do not generally have to withhold or pay any taxes on payments to independent contractors.” (http://www.irs.gov/businesses/small/article/0,,id=99921,00.html)

Filing at 1099-MISC of Independent Contractors

According to IRS.gov, if you paid someone who is not your employee, such as a subcontractor/independent contractor, attorney or accountant $600 or more for services provided during the year, a Form 1099-MISC (PDF) needs to be completed, and a copy of 1099-MISC (PDF) must be provided to the independent contractor by January 31o f the year following payment. You must also send a copy of this form to the IRS by February 28.

Preparing and Filing Form W-2 for Employees

At the end of the year, the employer must complete Form W-2, Wage and Tax Statement (PDF). A copy of this form must be given to the employee by January 31st after the end of the year. You must also send a copy of the W-2 to the Social Security Administration (SSA) by February 28th (after the end of the year) unless you file it electronically -- then it is due on March 31st. Employers can prepare and file up to 20 W-2s at a time, free of charge, at the Social Security Administration’s Web site. Using SSA’s online W-2 filing, employers can also print out all the necessary copies of the W-2 for their employees, state taxing agencies, etc.

Click here to see a cost comparison of using full time employee versus a virtual assistant for your administrative needs.

Delegate Your Way to a More Productive Business

As business owners you are no doubt always looking for the most effective way to spend your time. It is important to truthfully assess how productive hours are spent on a daily basis. Keep in mind that there is a distinct difference between busy and productive. Busy entrepreneurs can quickly get caught up in the “busywork” of running a business. Tasks such as checking emails, handling invoices or other payments, making travel arrangements, preparing handouts (instead of preparing your presentation), etc. can rob one of many productive hours each day. These tasks, though necessary to keep a busy running, are not the elements that provide the sustainability to keep a business growing.

With that said, here is a word that any student of business has heard heard millions of times – DELEGATE. Of course it would be in the best interest of your business if you could focus your more productive hours on the things that yield the most return. Ask yourself, “What limits me?” and make sure you find ways to address those limitations. It may be a good idea to start setting times monthly to access and readjust if necessary – check-in with yourself and your business to make sure you are staying on track. By delegating some of these tasks to someone with a lower rate per hour, the busy entrepreneur is free to concentrate his/her hours on more productive tasks; therefore seeing an increase in productivity, prospects, clients, and income.