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A virtual assistant is an individual who provides business services to other professionals. They’re considered virtual because they perform their services from a remote location. Communications with their clients take place through telephone, fax, email, and snail mail. As a business owner, you can save time, money, and energy by hiring a virtual assistant. Best of all, you’ll have more time to do what you do best – running a business!

1. You do not need to provide a physical workspace. A virtual assistant works from their own home or office. This is especially convenient if you are running a business from home or if you have limited space at your own office.

2. You do not need to provide costly equipment. Virtual assistants use their own equipment to provide services to you. This can result is tremendous savings especially if the virtual assistant has access to equipment that you don’t already own. Also, you don’t have the worries of dealing with the maintenance and upkeep of office equipment.

3. You save valuable time not performing tasks you don’t have time for or are not able to do. As a business owner, the highest and best use of your time is to work in your business. Delegating important and necessary administrative tasks like web design and maintenance, bookkeeping, writing, shopping cart setup, and other tasks will allow you to spend time developing your business and building relationships with your customers or clients.

4. You do not have to deal with payroll, taxes or benefits. You can hire a virtual assistant as an independent contractor which frees you from spending time dealing with tax filings and compliance issues. You also have the added benefit of hiring them just for the task at hand, paying them at an hourly rate or by the project. This is much more cost efficient than having a full time employee who you might not be able to fully utilize.

5. You can accelerate growth by finally having the time to focus on the most important issues of your business. The administrative tasks related to running a business are overwhelming, even for a one-person business! The best way to grow your business fast is to concentrate your energies working on your business and leaving everything else to your virtual assistant.
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One problem that many small business owners run into is simply thinking too small. I often have readers writing to me asking for helping getting their business ideas off the ground. I also often hear from folks who have run their small businesses into the ground. There are five key areas where you can think too small — and doom your business to failure.

Niche Too Small

Is your niche too small? Finding a small market to target with your business is key to success, but sometimes people narrow their niche too much. While doggy dental products could be a wonderful niche (as almost any dog owner can attest) you could even narrow your focus down to a certain type of dog (such as lap dogs) but going for one specific breed would be taking it too far.

Target Market Too Small

Is your target market too small? If you are looking only at one community or small geographic region then you may well doom your product to failure. It is far too easy to saturate a small market and it is far too easy for any marketing mistakes to end your campaign before it gets off the ground. In today’s economy with the availability of global marketing you need to think big when you are planning your target market.
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While developing your pricing strategy, it is important to remember that there is an implicit relationship between price and value. We expect to pay more for gourmet food than for fast food and for a luxury car than for an economy model. At the same time, value is a matter of opinion, not fact. I prefer a new Subaru to a ‘95 Cadillac; my husband prefers the opposite. His wardrobe is built around Dickies; my taste runs to rather more eclectic (and non-synthetic) clothing. Given that there is a relationship between price and value and that value is a matter of opinion, I had always priced my products and services by triangulating three factors: what I wanted or needed to earn, my costs, and what the market would bear. That’s what I had taught countless other people to do, and it worked fine. All else being equal, quality, price, and market generally reached a dynamic balance where prosperity and service overlapped.

But, once came the day when something felt out of synch in the way I used that marketing strategy, and I felt some gritchiness around the prices of products I recommended. I kept examining my assumptions, and everything seemed right. Still, the feeling that something wasn’t quite right persisted.

Never one to ignore an itch, I kept scratching until this week I realized what the problem is. I had been using quite different “markets” to assess what the market would bear. That is, I’d been looking at markets that had different values from the values of many of the people I attract. I based my pricing strategy and marketing on the proven best practices of other respected “info product” gurus, but those practices were designed to address the values of people who didn’t, and probably never would, be attracted to my e-zine.

Readers of my e-zine were a special case. From their emails and phone calls, I knew that they placed a high value on authenticity, intelligence, and creativity. I knew they had high standards for courtesy, honesty, and what I might call “finish.” They were tolerant of mistakes (assuming they were acknowledged). They had a sense of humor, a hunger for spirit, and a fundamental commitment to growth. At the same time they tended to be a frugal lot, willing to pay for high quality, but unmoved by hype and positively turned off by pressure tactics.

The generic information marketing model is designed to address the needs of people for whom profit is an over-riding value. These folks — many of them good souls indeed — thrive in the hyper-stimulating atmosphere of the motivational circuit: loud, upbeat music, extravagant challenges to dare to be great and simple formulas for achieving success. The more costly the package, the more this customer tends to believe in its value. And I’m willing to suppose that for the right person, that value can be substantial.

But this model didn’t fit me and it probably didn’t fit my e-zine readers, either. More than likely, they were past believing in “7 Steps to Instant Gratification.” They probably didn’t believe in easy answers, however much they might sometimes long for them. (Me, too.)

The bottom line is that, in that case, so-called “best practices” just didn’t apply. The sophistication, values, and life experience of this community constituted a different market, and we would just have to develop our own best practices.
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It is often said that it is not who you know that matters, it is who knows you. Well I would like to extend this statement by saying that it is not only who you know and who knows you, but how well do you know them and they you?

In business, networking is the ultimate form of promotion. It can help you to obtain new clients, a new job, or even help you to move up the corporate ladder. It is the process of building relationships. Any time that you attend a meeting, trade show, or a social function, you are networking whether you realize it or not. It is the relationship that you have with people, a prospect or a client that makes the difference between success and failure.

Often we fail to realize the reasons that we have for doing business with an individual or a company. In the case of products that we regularly buy, what helps us to make the buying decision? There are those that will buy a specific brand of product because they trust that brand to be of a high quality or durability. There are others that will make a buying decision based on price, although this is less frequently the case. Often we simply do business because we feel good about it. In fact most purchases or decisions to do business are based on two things. Trust and comfort. Trust is a very intangible emotion or feeling. How do you measure it? How do you develop it?

Trust is measured by the feelings that are generated by a process of letting someone get to know more about you than just product, features and price. I know a gentleman who provides a seminar on selling to C-level executives. He says that to sell to the C-level executive you have to be more than a salesperson selling a product or service. To sell to the executive level, you have to be more of an advisor. You have to find needs other than the ones that you can fulfill and help them to fulfill these needs. In doing this, you become a “trusted advisor”. They feel “comfortable” that you have their interests in mind more than just making a quick sale and a commission.

In our daily process of seeking prospective clients, do we often just look for a person to pitch, or do we spend a bit more time getting to know them before we try to sell?

When we take the time to know a persons desires, dreams, and needs, and make an honest effort to help them realize that these things are important to us, we are really on the fast track to doing business with them. We are building the trust, confidence, comfort level, and most importantly the relationship that is needed to not only make the sale, but to create in them a resource for endless referrals.
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