Have you ever heard the saying ‘You have to spend money to make money’? Well, it’s true. Some spend a little to make a little and others spend a lot to make a lot. What’s really fun is to spend a little to make a lot … that seems to be the formula that we all like best.
So how do you know what the right investments are for your business? Well that my friend is different for every professional in every business. But for the most part the easiest way to make more money is to hire an assistant. As your business grows there are things that MUST be done but are either taking up too much of your time or aren’t making you as much money as other things you could be doing. Now I understand not everyone has the money or space to hire a part-time or full-time employee so that’s where virtual assistants come into play as a great investment. Virtual assistants are contract employees who work a certain number of hours per month from their home office. They take care of their own office space, equipment, supplies, insurance and taxes.
So how do virtual employees make you money? Well, if you are a sales professional you must set appointments and meet with clients. The act of setting the appointments isn’t making you the money, it’s sitting with the client and selling them your product or service that is. So let’s say you spend one full day setting appointments and four days selling. You had to set the appointments on day one to make all the money you did on days 2-5 but what if you hired someone to set your appointments so you could get in five days of selling? If you are a good salesperson your fifth day of selling will make you a lot more money than the cost of hiring a person to schedule those appointments for you so it’s well worth it. You are now money ahead. You had to spend money to make money.
Another example of how you could increase your business is by using social media. Social media is a great marketing tool but it can be time consuming, it’s always changing and there is a lot to learn. Who has time to learn how to make social media marketing successful for your business? A social media assistant would. You don’t get paid to sit on Facebook and Twitter but the revenue it could generate for you could be well worth you hiring an assistant to do it for you.
Remember to be smart about your investments and track their success. If you are spending money on an appointment setter make sure that the revenue you are making for the appointments she is making is at a bare minimum paying for the service. This goes for all products and services. If you pay $200 per month for a social media assistant make sure you are generating a minimum of $200 per month from social media. Of course the goal is to make money, not break even but you certainly don’t want to loose money. A lot of companies are losing money on products and services every day and they don’t realize it because they aren’t taking the steps to measure the success. If you don’t have the time to measure the success of your investments than that’s what your assistant is for, right? If you don’t have one I guess it’s time to hire one. And I might just know a person who can help.