| Work smarter, not harder | | | | 401K Matching, Profit Sharing & Stock Options): |
| What is one of the best ways to work smarter | | | | >$3,000 |
| without working harder? The answer is outsourcing. | | | | ·Office Space, Equipment, and Software (100 |
| Whether you need occasional or ongoing assistance, | | | | sq. Ft. @ applicable rate): $2500 ($25/sq. ft. is |
| outsourcing can save you money and time. Graphic | | | | conservative) |
| designers, copywriters, bookkeepers, website | | | | ·Annual Bonus (1 mo. salary): $3000 |
| programmers, office assistants, and other types of | | | | ·Sick Time (10 days/year): $1385 |
| professionals are all readily available. | | | | ·Other intangible costs (furniture, testing, training |
| And, there's a new way of hiring people - the World | | | | & fees, sick children, etc.): $1200 |
| Wide Web connects independent professionals and | | | | Total Typical Costs: $53,553/ $25.75/hr. total effective |
| small businesses that don't need or want full-time help. | | | | hourly rate at 100% productivity |
| Try typing "Virtual Assistant" into a search engine. You | | | | At a 75% productivity level, this employee's cost for |
| will find a vast array of online resources. According to | | | | actual work becomes $34.33/hour and at a 50% |
| the International Virtual Assistants Association, | | | | productivity level, it's $51.50/hour. A full-time staff |
| - "A Virtual Assistant (VA) is an independent | | | | person is very unlikely to be 100% productive because |
| entrepreneur providing administrative, creative, and/or | | | | of idle time, errands, tasks, personal matters, and a |
| technical services. Utilizing advanced technological | | | | learning curve for certain functions. This is combined |
| modes of communication and data delivery, a | | | | with an employer's inability to generate work due to |
| professional VA assists clients in his/her area of | | | | distractions, staff meetings, company functions, lack of |
| expertise from his/her own office on a contractual | | | | time to delegate or supervise, and sales fluctuations. |
| basis." This means you can find a virtual assistant for | | | | So, depending on the productivity level of a full-time |
| almost any type of work. Are you a plumber who | | | | employee, you may be paying up to 3 times his or her |
| needs accounting? Or a professional speaker who | | | | actual salary! You do the math! What's the wise |
| needs help arranging your appointments? Perhaps you | | | | choice? Does an in-house employee save money? In |
| would like some help writing proposals, designing a new | | | | most small businesses, this method simply is not the |
| website, or sending out press releases. You can find | | | | most cost effective. |
| someone online for all of these services. | | | | Entrepreneur, get your life back! |
| For many "around the office" types of jobs, virtual | | | | Outsourcing will save you money, time, and energy. |
| assistants get paid $20 to $50 an hour. More | | | | Virtual assistants and other out-of-office professionals |
| specialized services such as programming, legal | | | | own their own equipment with the latest software, |
| assistance, graphic design, or coaching can cost $75 | | | | they pay their own taxes and benefits, they are |
| to $125 an hour. This may sound expensive at first. | | | | experts in their field, they don't require morale building |
| However, if you are not in need of a person in your | | | | or training, and they aren't going to bring their personal |
| office 40 hours every week, it becomes a very | | | | problems into your work space. Virtual assistants and |
| cost-effective solution. | | | | outsourced professionals offer even more |
| While I realize, costs fluctuate widely, let's look at some | | | | advantages: they are loyal to their client companies |
| sample numbers to compare the typical costs of | | | | and will support your goals - they will help you |
| maintaining an employee versus outsourcing: | | | | generate ideas and allow you more time to make your |
| Sample costs of a full-time employee | | | | business more profitable. |
| Employee Salary: $36,000/ $17.31/hr. | | | | So, if you have employees that you are happy with, |
| ·Two-week paid vacation: $1,385 to cover | | | | then of course that's perfect for your business. Don't |
| your employee's role (more if a temp is hired) | | | | fix what ain't broke. However, if you find you are |
| ·Health Insurance (employer portion for 12 | | | | paying too much overhead or spending too much time |
| mos.@$150): $1,800 | | | | managing, try a virtual assistant. If you need a new |
| ·FICA Taxes (7.65%): $2,754 | | | | type of service, but don't have the in-house expertise, |
| ·Worker's Comp. (.61%): $220 | | | | outsourcing is a great option. There's a world of online |
| ·Unemployment (State & Fed): $309 | | | | help available at your fingertips. |
| ·Misc. costs (Vision, Dental, Disability & | | | | |