Focusing on admin and low-value tasks can have a significant impact on your Business!
Are you spending too much time running your business, focusing on email replies, admin, sending out quotes and not enough time generating new leads, and converting sales? If yes, we’ve got you covered!
We see too many business owners fall into the trap of ‘I can do it myself’ or ‘I can’t afford support’, yet to grow a profitable business today you need need to switch the mindset to build a support team around you!
Switch your focus to what you do best – selling, building houses, closing deals, and let business support aka ‘Virtual Assistant’ pick up the rest!
Running a business requires many different tasks and can be very challenging. There’s also a lot of pressure to make sure every job is completed successfully.
It may sound easy said than done, but what if there was a way to find someone to do the low-value tasks for you so that you could focus on the high-value ones? The ones that generate $$, that build your profitability!
But first, you need to understand the difference between high-value and low-value tasks;
What are high-value tasks?
It’s easy to get caught up in the day-to-day and lose sight of what really matters. You might have a long list of things that need to get done, but if you’re not identifying which tasks are most crucial for you to accomplish in order for your business to be successful, then you’re missing out on an important part of the equation.
High-value tasks are the ones that will have the biggest impact on your organisation—the ones that will drive revenue growth and increase efficiency. They could also be the tasks that help prevent costly mistakes from happening down the line. It’s important that everyone knows what these tasks are so they can be prioritised accordingly.
These tasks could include:
- Project Management
- Company Growth and Planning
- Creation of New Products or Services
- Expanding Into New Markets, etc.
In other words, these are the tasks that are most beneficial to your business and can contribute to success and profitability. If you are not getting time to do these, and are too caught up focusing on admin and low-value tasks, it is time to switch that focus!
What are low-value tasks?
Low-value tasks are the things you do at work that are unnecessary and can be removed to make place for more important duties. Often, these tasks can be automated or outsourced, and once you’ve done it, you can go back to doing more important things.
Low-value tasks include things like:
- Answering Emails
- Doing Data Entry
- Scheduling Meetings
- Reorganizing Spreadsheets
- Research And Data Gathering, etc.
Basically, these are things that don’t contribute directly to making money; they’re more about maintaining relationships and keeping up with your responsibilities in general.
The problem with low-value tasks is that they take up time that could be spent doing something else—like working on a high-value task! So it’s important to be aware of what kinds of things fall into each category so that when it comes time to prioritise your day, you know which things need to come first and which can wait until later.
Why focusing more on low-Value tasks can limit your business growth
Focusing on the low-value tasks in your business can be a huge time-suck, and it can also hurt your ability to grow as a business over time.
They might be necessary, but they don’t move the needle much when it comes to making an impact on your business’s overall performance. Low-value tasks can also make it harder for you to prioritise what matters most, which can lead to burnout and frustration later on.
In contrast, high-value tasks are those that help propel your company forward and make an impact on its bottom line—things like hiring new employees or conducting market research.
Focusing on the high-value tasks will have the biggest impact on your business and are often complex and time-consuming, but they’re also where you’ll find your greatest rewards.
So this is where hiring a Virtual Assistant comes in.
Why Every Growing Business Needs Virtual Assistant Services
If you’re a growing business, you know that it’s not always easy to keep up with the demands of your business. You have customers to please, employees, to manage, and all sorts of other tasks that need to get done.
One way to lighten the load is by hiring a virtual assistant—someone who can help with all those little things that are so important but can easily get lost in the shuffle of day-to-day operations.
Virtual Assistants (VAs) are trained professionals who help you manage all tasks that come with being an entrepreneur—scheduling appointments and meetings; managing your email inbox; taking care of customer service issues; tracking important paperwork like invoices or contracts; and much more. They’re also great at helping you stay organised by setting up calendars and maintaining databases.
From answering customer emails to making sure all your social media posts are up to snuff, they can take care of everything so that all you have to do is focus on making your business better.
If you want to make sure that each task is worth its weight in gold–or at least doesn’t cost more than its value–you need to identify the high-value vs. low-value tasks in your business.
Cost vs. Return of Hiring a Virtual Assistant
The cost of hiring an assistant is going to vary based on location, experience level, and other factors. But generally speaking, you’ll probably be looking at spending around $10–$25 per hour for a full-time employee (whether they’re remote or local).
Still not sure a VA is an answer? Here is another way to look at it.
Let’s say you make $5,000 per client. With your current marketing strategy, you’re getting about 10 leads per month. Your conversion ratio is 10%, so you’re converting 1 of those 10 leads into a client, which puts $5000/month in your pocket.
After getting a client, you arrange onboarding, documentation, the final scope of work, and admin tasks that take all your time! You don’t have any more space left for a new client. You can’t generate more leads. And even if you did manage to get two clients, you’ll just slave yourself to the bone.
So, you are stuck at making $5,000/mo.
But imagine you had a VA who could handle your clients, complete the admin, fill up the docs, submit them, follow up when needed, and do the ad hoc and other stuff for $2.5K/mo.
Now, you are free to take on more clients. You focus on lead gen and now you get 20 leads instead of 10, which simply means that you are making $10K/month now. After paying $2.5K to the VA, you are making $2.5K extra!
Maximising Efficiency And Business Growth
The two most important factors in business growth are efficiency and innovation. When you can combine these two things, you will have a successful business.
Efficiency is the ability to get things done quickly and effectively with little wasted time or resources. On the other hand, innovation is the implementation of new ideas into your business that will help it grow.
You need both these factors to make your business a success. It’s important that you do not focus on one or the other too much because it could cause problems for your business in the future if one of them suffers due to lack of attention.
Maximising efficiency and business growth are one of the most important aspects of running a successful business. While there are many ways to do this, one of the most effective ways is by delegating the low-value tasks to an outsourced assistant and focusing on the high-value ones.
When you have an efficient workflow in place, you can reduce the amount of time it takes to complete tasks and save money on unnecessary costs. With every minute that passes, your profit margin shrinks as well. An efficient workflow will allow you to reduce costs while increasing revenue and improving customer satisfaction.
Hire Virtual Assistants with Koruna Assist
It’s no secret that hiring a Virtual Assistant can help you improve your business efficiency.
At Koruna Assist, we make it easy for you to hire virtual assistants who can help manage your business operations. We are an outsourcing company that assists time-strapped SME owners in eliminating bottlenecks in their organizations by streamlining back-office procedures and offloading low-value tasks so they may devote more time to their areas of expertise.
Our assistants have years of experience in a wide range of industries, so they’ll be able to handle almost any task. They’re trained and would definitely help you with your back-office tasks.
Once you get into the habit of delegating more work to your VA, it’ll be easier than ever for them to grow your business by taking on new clients or projects. You don’t need to worry about whether or not they’ll have time for additional clients; just set up a clear process for how they’ll handle those requests and let them go at it!
Interested in what you can outsource? Download our guide https://www.korunaassist.com/outsourceguide/
Book a free discovery call with our knowledgeable team today to find out more information!