As a business owner, we need to spend time on our strengths – the activities that increase sales (like creating content and big picture strategy). We need to let go of the tasks that do not require our expertise, such as:
• Rekeying of information
• Graphic design (if you're not a designer - stop using Canva and hire a professional)
1) Type in What Your Time is Worth (Most Entrepreneurs value their time at least $100/hr)
2) Type in the time spent on a specific task (i.e. Imagine you spend 1 hour on graphic design in Canva)
Section 2: VA’s Time
1) Type in Your VA’s Hourly Rate ($30/hr is more than conservative, you likely could be paying far less)
2) Type in the time spent by your VA to do the same task you would have done (i.e. in the example above where you spent 1 hour on graphic design, it’s fair to say your VA would spend half that – 30 mins – because that is their expertise).
BOOM! Look at the results and the total savings!
Here's another example, just in case you're still not convinced...
Have you ever thought about podcasting?
Whether you're a current podcaster or you've thought about podcasting I'm sure you can understand how much extra time you'd have to spend on your podcast.
I have 3 podcasts and have helped launch over 8 podcasts. I get how much time and effort goes into podcasting. But, here's the thing if you just focus on doing the podcasts and not the back-end work; then podcasting can be extremely simple!
Let's say you decide to get into podcasting with no background in any sort of audio editing. Well, what are you going to do? If you teach yourself on YouTube it could take you a minimum of 5 hours and as we know your time is worth $100/hr. So, let's say $500 just to get an idea of how to edit your pods.
Well, if you decide to hire a Virtual Assistant to edit your podcast; they can do it for less than $25/hr (and that's a high price!). An hour is more than enough time for your VA to edit one podcast, but let's say two hours to be conservative.
Plug these numbers into the calculator on the right and you'll see that you can save over $400 on upfront costs to get your podcast off the ground!
It doesn't end there though. As you advance in your "Virtual Assistant Journey", you'll begin to see all the other ways VA's can support your podcast (i.e. creating your graphics, writing your show notes, scheduling pods to go live and posting to social media etc).
This is just the beginning my friends...
Spend time on your Strengths and Hire out for your weaknesses and the tasks that keep you doing the busy work. Your business will only grow if you spend time on big picture strategy and the tasks/projects that require your specific skill set.