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What is Your Time Worth?

Growing businesses are finding outsourcing is becoming a regular necessity to keep up with increasing demands. Over the past few years, a new resource has emerged and is gaining momentum as the word spreads; that is, the services of a Virtual Assistant (VA).   

With the advances of technology, it is becoming easier for businesses to outsource some of their administrative tasks, without the need of having a person in house. No need to provide a desk and computer.  A VA is able to provide administrative support to businesses all over the world. Distance is never an issue. VA’s communicate with their clients by email, telephone, fax, instant messenger or file transfer.

So what is a Virtual Assistant?

Since 1996, more than 5,000 professionals around the world have become Virtual Assistants. A Virtual Assistant is an independent business owner who works from their home office environment. Many have chosen to leave the corporate world and start their own business, giving them freedom to better balance family and work time. VA’s are highly skilled professionals, who keep up to date with the latest software and trends.  They provide a wide range of general administrative services but often specialize in areas such as Web Design, Marketing, Strategic Planning, Project Management or Real Estate Assistance.

Training to become a Virtual Assistant can be found through several organizations; International Virtual Assistant Association, Assist U, International Association of Virtual Office Assistants, and Red Deer College, to name a few.  Through the intensive 2-year curriculum, a VA can obtain Certification or progress even further to obtain the status of Master Virtual Assistant.  

Business owners only pay a VA for work performed, which is billed hourly. Being responsible for their own taxes, training, health care, insurance, and overhead costs makes hiring a VA an affordable option.  

Business owners often find they are doing many administrative tasks themselves, leaving very little time to devote to developing their business or planning for future growth.  By hiring a Virtual Assistant and delegating daily routine tasks, you can free up time for higher priorities.

 As an example: 

·        You charge $75 per hour for your services. You spend a total of 5 hours on administrative tasks.  $75/hr X 5 hours = $375.00 time value

      Costs of  hiring a virtual assistant to handle these tasks:

·    $40/hr X 5 hours = $200.00

·    $375 - $200 = $175 time value saved by enabling you to devote your time on revenue producing tasks, which could generate additional profits     

The second International Virtual Assistant’s Day was celebrated on May 19, 2007 to recognize this new profession.  There are about 170 VA’s in Ontario and this number is growing rapidly.  Two associations in Canada provide support to VA’s; the Canadian Virtual Assistant Connection, www.cvac.ca and the Canadian Virtual Assistant Network, www.canadianva.net. These associations provide a “Request for Proposal” service for businesses looking to hire a VA through the association’s on-line directory.

As the Virtual Assistant industry profile increases through media coverage and word of mouth from satisfied clients, the face of outsourcing in the new millennium is changing.♦

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