I don’t have enough time
I don’t make enough money
And I just can’t get the staff
Now obviously as a virtual assistant business, we save people time, and we give them “virtual staff” (although they are real people – I promise!). But we don’t often get asked about what we can do to make them money. Which is a shame, because our job is to give them more time, to allow them to make more money and offset the cost of hiring us so we become an essential part of their team.
So here are 10 ways you can instantly make money – all of which a virtual assistant can help with:
1. Credit control: Retrieve any outstanding debt – after all it’s your money they have, and it isn’t doing you any good in their bank account. Your VA can chase up non-payers, get a payment date, send reminders, and even bank the cheques for you.
2. Affiliate schemes: Join relevant affiliate schemes to sell products online and earn passive income. Examples include Amazon, Tradedoubler and, of course, Virtually Sorted. From experience, some schemes are better than others at paying out – do your research (or get us to do it!).
3. Increase Prices: This is an obvious one – charge more and earn more. Your virtual assistant can help manage the change and if you are worried about raising prices, perform competitive analysis and research to justify your new prices.
4. Bundle Products: This comes under the simplistic title of “Sell more”. If you can sell a bundle of products rather than a single one you can charge more per transaction. Your VA can suggest trends from existing clients, and help you to market the new product.
5. Revisit old clients: It’s 10 times cheaper and 16 times easier to sell to an existing client than to recruit a new one. Get your old contacts out and send them an email, pick up the phone or send them a special offer. Check out our marketing options.
6. PR: Have a great story or a unique angle on something? We had an excellent ½ page article in the Daily Record (which has over half a million readers) on “21st Century Office Angels” – the equivalent advert would have cost of minimum of £7,000 – for free. Come up with an interesting angle – a competition, a survey you have done, a great headline, a cute picture. It’s impossible to buy the kind of credibility that good PR gives your business – well worth some investigation.
7. After Sales Service: After someone buys something from you what happens? Do they get directed to a thank you page recommending other products they might like? Do you send them a reminder to buy another 30 days supply from you? How about an email a month after their purchase to ask for a testimonial? I was really impressed the other day to get a phone call from a supplier to check how I was finding the product about a week after buying it – fantastic customer service, and I just told all of you about it!
8. Cut Costs: Review all your outgoings each month. Are those phone bills too high? What about your stationery supplies? Could you email rather than post your invoices? Every cost you can minimise means more money in your pocket. Our specialist finance assistants can analyse your outgoings and highlight where savings can be made. One of our clients saved £1,000/month in paper, postage, envelopes and overtime, simply by switching to emailing their invoices instead of posting – there’s real savings in automating some elements of your business.
9. Network: If you can get 5 people to tell 5 of their friends about your business, and they tell just 5 of their friends, then that’s 125 people all talking about your business! We have a specific way of online networking to get people talking about your business.
10. Stop Being Active – be productive instead: Think – is it really worth your time to sit doing the books (which you hate) rather than going out there and getting more clients? Hire a VA and use your time to do what you are best at – running your business!